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No, you do not have to do anything extra to pay principal on your car loan
No, you do not have to do anything extra to pay principal on your car loan Generally, all you have to do is pay extra and the overpayment will get applied to principal. I see this misconception all the time that if you don't jump through hoops and write/call/send a smoke signal to make a 'principal only' payment, that your payment will just get applied to future payments and not save you money on interest. I've never s...
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