dfw

**garner** · 10-06-2013, 01:39 PM

Yeah that's what happens with tons of rollover due to stupid people :/ But I do like the car. Plus side is that even with that loan payment, the total operating cost is a few hundred dollars less than my last truck was. Bad part is we can't put that money towards the loan cause according to navy federal it goes to interest and not principle, lame

**Dan12GT** · 10-06-2013, 08:01 PM

Car was listed around $29500 with 3k miles used. Original sticker price was $35k+. Premium with with comfort / lighting package. I ended up financing around $26k @ 2.2% I'm paying $415/month 6 year loan.

**2012mustang76123** · 10-07-2013, 12:15 AM

Originally Posted by garner

Yeah that's what happens with tons of rollover due to stupid people :/ But I do like the car. Plus side is that even with that loan payment, the total operating cost is a few hundred dollars less than my last truck was. Bad part is we can't put that money towards the loan cause according to navy federal it goes to interest and not principle, lame

are you sure about that? Everyone loan car/house always went to principle or you can specify that a certain amount go to principle only.

**DirtyD** · 10-07-2013, 08:58 AM

Originally Posted by 2012mustang76123

are you sure about that? Everyone loan car/house always went to principle or you can specify that a certain amount go to principle only.

Typically you monthly payment goes more towards both interest and principle. Any extra amount paid after your payment go straight to principle, since you've already paid the interest for that term.

**garner** · 10-07-2013, 12:44 PM

Originally Posted by 2012mustang76123

are you sure about that? Everyone loan car/house always went to principle or you can specify that a certain amount go to principle only.

That's what the loan officer told us when we went to turn in the promissory note. Said any extra on top of the requirement payment would pay down interest

**DirtyD** · 10-07-2013, 01:10 PM

Originally Posted by garner

That's what the loan officer told us when we went to turn in the promissory note. Said any extra on top of the requirement payment would pay down interest

He must be an idiot. Your monthly payment factors in paying off both interest and principle each term. Any extra payment made AFTER your monthly payment pays strictly to principle, which is why you can pay extra and pay off a loan early.