Quote Originally Posted by CBR
On a simple interest loan, your initial payments pay interest only and it eventually tapers off to pay towards principal. Interest is computed daily. Therefore, if you pay even the slightest amount over your monthly payment, it will cut principle and lower your overall interest costs.

If money is tight, pay as much as you can over your car payment, it will cut down on your loan amount quite a bit. If you do this for a few months, you may be able to catch up to your car's actual cash value.

Even if you pay 5-10 dollars a month extra, it will make a big difference.

I didnt know it would make that much of a difference thanks!!!!!!!!!!1