tetra316 0 #26 October 2, 2008 Quote Quote Right. It's going to next month's principle. not sure this is right I think that any extra funds that go towards principle reduce the principle balance and are subtracted from the final payment that would have been due at the end of the loan and to the original question, no you can not skip the next months payment You can if they apply it your next month's payment. I found they do that if you send a second check and do not specify what's its for. Then you are effectively skipping next month's payment, having prepaid it. Quote Share this post Link to post Share on other sites
wildcard451 0 #27 October 2, 2008 Quote Quote Quote Right. It's going to next month's principle. not sure this is right I think that any extra funds that go towards principle reduce the principle balance and are subtracted from the final payment that would have been due at the end of the loan and to the original question, no you can not skip the next months payment You can if they apply it your next month's payment. I found they do that if you send a second check and do not specify what's its for. Then you are effectively skipping next month's payment, having prepaid it. Bought in July. Monthly is 316. August 400 Sept 500 Received a bill this month - says Due 11/18 - $364 Effectively the 268 I have overpaid so far is enough to move the next due date up a month and applied to the total balance not just the principle. Otherwise I would still owe 316 this month. Fuckers. Gotta love learning life lessons. Quote Share this post Link to post Share on other sites
