Ducky_077 asked:


My interest rate is 2.9% and every month, the amount that goes towards interest fluctuates (up and down) by as much as 10 dollars even though I pay the same amount each month. Is the interest calculated monthly (.029/12) * Amount Remaining or is it calculated factoring days in the month and when I paid?

Hector

kevandcambria asked:


I’m 22, been working at my full-time career-type job since July (just graduated college in May)…my credit score is about 730, and I have had a coupel credit cards for about 2 years, been payign rent for a couple years as well…basically what I’m getting at is do you think I have enough credit history to get approved for an auto loan (without being burned with an inflated interest rate)? You can rule out a parent as a co-signer because my dads credit is probably much worse than mine.

Amber

Save Darfur! asked:


I want to buy a car from private party what are the requirements for a 15,000 loan?
credit score?
what are the best places to apply?
for how long should I make the loan so i have affordable payments?
Best Interest rate I can get for a poor-fair credit score?

Marvin

confusedmuffin asked:


I own $5000 in my car loan, and the interest rate is 8.25%, I think there are still 15 months to go. I am wondering should I pay it off or not. I have invested fully on my 401k and other retirement account, and still have plenty left in my savings account(enough for living off for one year). I am wondering should i pay it off or still pay month to month, about 100 dollars interest per month. If i pay it off, will that improve my credit score as well?

Gilbert

Sicks asked:


I have just started college. I am really enjoying it. Especially after being out of high school for 4 years. Anyhow, I am back into it and I have qualified for financial aid. It is an unsubsidized loan, with a total of a little over 6k. It is my first loan, and I intend to pay every bit of it.

My employer reimburses up to $5,200 a year, which is more than enough to pay for a year’s tuition at my college branch. If my calculations are correct, I should receive an overage check of about 4k, which is the same amount I have left on my auto loan.

I am being nailed on interest for the auto loan, which is 14.2 percent — I had no credit, no co-signer — so I had to bite the bullet of an extraordinary rate. So, I figure I will take the full amount of my award this once and pay off my auto loan. It will give me peace of mind because if I lose my job, I lose my car. But if I pay off the car, I can lose my job, but still keep going to school, for I do not have to pay back my loans until after I graduate. That way I can pay about $100 a month toward the overage check, paying it off well before I graduate.

So, for the people that have had much experience with their finances, been through many hardships, tell me, is this a good idea? Am I thinking on the right track for a young age — 23?

Andrea

lkg919 asked:


I have an auto loan with my credit union with a balance of 21,000, the loan term was for six years – began in 10/08, my payments are 370.00/month and I believe my interest rate is around 5%. Should I take my tax refund (6000) and apply it towards my loan?

Does anyone know how much time it would approx. take off the life of my loan? Would this benefit me in the long run? Or should I let my tax refund collect interest in a savings account?
i don’t need a loan!! i already have one.

i am not asking about what kind of loan i should get. i already have an auto loan, i am asking if i should make a large principle payment, and what the pros and cons are.

Keith

Loki asked:


My auto loan has about 5k and change left. I had no credit, nor a co-signer, so I had to bite the bullet of a high interest rate. 14% to be exact. High, I know. However, I want to pay this off by September buy sending in $1000 every 2 weeks. This is possible, but I need to know how this interest is applied. I don’t want to send in 1k and have it all go to interest. I believe the interest was precalculated, so how would this work? Paying 1k until September will leave me with a few payments, but I at least wanna have 12 payments made before I pay it off. Going back to school, so I will need the extra $230 a month, which is what I pay monthly. Any help would be greatly appreciated. Thanks.

Juan

Rush_Informer01 asked:


I’m looking for a car loan for about $10,000 so I can buy my new car before I sell my current one (which is paid off). I have a good credit score of 741 last I checked. I’m in the USMC reserves if that will help with interest rates. I don’t have very much monthly income however since I just quit my civillian security job.

Edwin

sis2sis asked:


I recently bought a car, and had to take a loan with an interest rate of 24.99%. That means that I’m going to pay double for my car once its payed off. I’ve been hearing that I can try refinancing after 6 months of “on time” payments, but I’ve applied twice now, and been turned down both times. Does anyone know anything about this. Who I can call? Or how long I should wait before I try again. The company that financed me does not offer a refinance option.

Tiffany

heather_ernst08 asked:


I don’t know if its possible to refinance my husbands auto loan if his auto loan has an attached loan. He recently needed a loan and the only way they offered him a loan was to refinance his auto loan and it left him with a high interest and such so is that still possible for refinancing? And if it was just refinanced for the additional loan just back in may is it possible to refinance in july for lower interest rate or is refinancing to close together bad? And if the bank that has the loan right now if they have lost the bill of sale and owner documentation does that make it impossible for me to refinance the car? thanks.

Sara