Originally Posted by
wp23n
with my trade and cash saved i only had to finance 11K which i just paid off so i pay "0" and my title just arrived so i officially own it now.
Tattooed_Pariah,
don't know how long you have been making your payments but after about 8 months i would look in to refinancing, if you refi at another 60 months it will not only lower the payments that much more due to the amount you have already paid in to it but since you have made payments and so long as you been making them on time or early you should be able to get a lower percentage, even at 6.99% it would lower your payments quite a bit.
I'm actually on a deployment right now so I'm making two payments when I can and next year I'll be deployed for another 7 months so I'll be trying to double up on payments then too. If I pay early, my credit union won't count it towards my amount due, they only count it as an extra payment.
They also won't allow me to pay it directly to the principal
they calculate the interest daily so any payments I make go towards whatever the remaining balance is on that day.
It's kinda a bum deal, but they pre-approved me for 38K as a 26-year-old with no credit history, so I can't complain too much. Navy Federal Credit Union has it's ups and downs.. When I find an up I'll report on it ;P