Re: Paying off a car sooner?
$100 extra is ok but you have to ask the finance company if they will take it. I have a loan with GMAC and was told that I could send in extra payments but they have to be the same amount as my monthly payment. So if your payment is $290.32 then your extra payments might have to be just that. Other option is to put that $100 or any extra money into savings and then write a check when you have enough to pay it off. Thats what I'm doing. I'm making my monthly payments and saving all extra money into a savings account and then on June 16 I'll write one check to pay off my car.
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