I bought a new car, around 21K ... my credit is not so good so I'm paying 17.999+% interest. I saw on my online payment website, that I pay roughly $10 a day in interest. So I want to pay off as much principle as I can. In the 'payment amount' section, it asks, how much additional I would like to pay (above my monthly payment) toward principle (if any). I've decided to add an additional $150 to pay toward principle.
MY QUESTION:
Ok, my payment is due on the 12th of each month (its auto debited from my checking account)...if after my 'payment+ additional' principle amount goes through on the 12th,..then I find that after I get paid on the 15th, I can pay, lets say, 200 more... and I mail that payment in (it does NOT have a 'pay online' option). Will that whole 200 go toward the principle?? ..**Of course, all this happening in the same month.
Hope that makes sense, lol
THANKS!!
MY QUESTION:
Ok, my payment is due on the 12th of each month (its auto debited from my checking account)...if after my 'payment+ additional' principle amount goes through on the 12th,..then I find that after I get paid on the 15th, I can pay, lets say, 200 more... and I mail that payment in (it does NOT have a 'pay online' option). Will that whole 200 go toward the principle?? ..**Of course, all this happening in the same month.
Hope that makes sense, lol
THANKS!!