Jumat, 17 Februari 2012

Paying more than monthly payment car loan...?

Question by genesis' mommy: Paying more than monthly payment car loan...?
Can paying more than your "minimum" monthly payment on a car loan ultimately help you pay it off? Value of Car is $ 11k - car dealership got them to buy it for $ 12,200 got financed at 26% due to bad credit... for 48 months payments of $ 379 (which means they end up paying about $ 18,240 for it!!!). If they pay $ 400/month instead of $ 379 will they pay less for the car? I don't know how that works... but i guess

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