Swordsmith
242hp/252 ft-lbs BNR EFI
Bought: 9/2012
Monthly minimum payment: $202.80
Amount left: $0
Mileage to date: 58563
Paid off today, they said $4080.96 if I mailed them a check, and a $6 charge to take it direct from my account. When I said take it from my account, they said the total including the $6 charge would be $4078.44. So... there's a hidden charge to mail them a check?
Anyway, I have been paying $500 per month, instead of the minimum, but there were months where they didn't charge me at all, because I didn't owe or something?! At any rate it was all screwed up and unpredictable.
Meanwhile, I make 95% of my income during August, September, and October, I have to live on that money the rest of the year. With around 4000 owed I would have the car paid off in 8 months more or less, before I have any further real income, so it made more sense to pay the money now, stop the interest and clarify my bank account.
The statements are not very clear, they just show what my current payment due is, without breaking it down at all. I owed $4550.44 as of last month, then made a $500 payment, and owed $4080.96 as of this month. That implies $30.52 in interest per month, which means I saved $244.16 by paying off the car now?
(edit to add) the month before that I owed $5029.40, and again paid $500, $21.04 difference. So I really don't know how much my monthly vig was. Why would it be larger when I owed less?
Monthly minimum payment: $202.80
Amount left: $0
Mileage to date: 58563
Paid off today, they said $4080.96 if I mailed them a check, and a $6 charge to take it direct from my account. When I said take it from my account, they said the total including the $6 charge would be $4078.44. So... there's a hidden charge to mail them a check?
Anyway, I have been paying $500 per month, instead of the minimum, but there were months where they didn't charge me at all, because I didn't owe or something?! At any rate it was all screwed up and unpredictable.
Meanwhile, I make 95% of my income during August, September, and October, I have to live on that money the rest of the year. With around 4000 owed I would have the car paid off in 8 months more or less, before I have any further real income, so it made more sense to pay the money now, stop the interest and clarify my bank account.
The statements are not very clear, they just show what my current payment due is, without breaking it down at all. I owed $4550.44 as of last month, then made a $500 payment, and owed $4080.96 as of this month. That implies $30.52 in interest per month, which means I saved $244.16 by paying off the car now?
(edit to add) the month before that I owed $5029.40, and again paid $500, $21.04 difference. So I really don't know how much my monthly vig was. Why would it be larger when I owed less?
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