How much do ya'll still owe
01-17-2006, 05:40 PM
#1
How much do ya'll still owe
I was wondering since a lot of us still have a car loan outstanding. What do ya'll currently owe on your maxima, and is there any way to pay off more loan principal instead of having your extra money go towards interest?
01-17-2006, 07:31 PM
#9
Originally Posted by imxelite
I was wondering since a lot of us still have a loan outstanding. What do ya'll currently owe, and is there any way to pay off more loan principal instead of having your extra money go towards interest?
01-17-2006, 08:15 PM
#14
Junior Member
Join Date: Nov 2004
Location: Burlington County, NJ
Posts: 22
i financed about 11000 on a 2000 maxima back in April 04. I currently owe about $6800. I took out a 5 year loan then, and just pay extra each month. I hope to have paid a 5 yr. loan in 3 or less.
01-17-2006, 08:21 PM
#16
If you want to make a prinicpal only payment, all you need to do is tell the teller that when you go to the bank and they will give you a special ticket or just process the transaction a certain way, so that it will go toward principal. It's really simple, you just have to ask. If it is not a local bank you should be able to contact the bank and they will give you any special instructions to make it happen.
Oh, by the way. I'm an assistant manager at bank and have been in the banking industry since I was 17.
Oh, by the way. I'm an assistant manager at bank and have been in the banking industry since I was 17.
01-17-2006, 08:25 PM
#17
Originally Posted by Icondapython
i got about 11 g's left. still got a while to go.........****!!!!!!!!!!
You in philly? what part man?
You in philly? what part man?
01-17-2006, 08:27 PM
#18
Originally Posted by Gjohnson
If you want to make a prinicpal only payment, all you need to do is tell the teller that when you go to the bank and they will give you a special ticket or just process the transaction a certain way, so that it will go toward principal. It's really simple, you just have to ask. If it is not a local bank you should be able to contact the bank and they will give you any special instructions to make it happen.
Oh, by the way. I'm an assistant manager at bank and have been in the banking industry since I was 17.
Oh, by the way. I'm an assistant manager at bank and have been in the banking industry since I was 17.
01-17-2006, 08:28 PM
#19
Mass_Media™
Join Date: Dec 2003
Posts: 2,812
Originally Posted by Gjohnson
If you want to make a prinicpal only payment, all you need to do is tell the teller that when you go to the bank and they will give you a special ticket or just process the transaction a certain way, so that it will go toward principal. It's really simple, you just have to ask. If it is not a local bank you should be able to contact the bank and they will give you any special instructions to make it happen.
Oh, by the way. I'm an assistant manager at bank and have been in the banking industry since I was 17.
Oh, by the way. I'm an assistant manager at bank and have been in the banking industry since I was 17.
01-17-2006, 08:38 PM
#20
Originally Posted by Mass_Media
so your saying that the bank accually cares about people enough that if the customer says so they will just pay off the principle and not interest (which is there sorce of income) Ive been in the banking busisness literly since I was born, my family owns a couple of community banks. If says in your loan docs thatyou are able to make a payment over the payment amount then it will go to principle.
Hmmm........ I don't know what to tell you. The two banks that I have worked at here in Oklahoma are major banks (one holding over 10 billion in assets and the bank that I am at now holding well over 30 billion in assets) and both allow principal only payments, but just require a certain ticket. Both banks are extremely customer orientented, so maybe that does have something to do with it. It doesn't hurt to just call and ask though.
01-17-2006, 08:41 PM
#21
Mass_Media™
Join Date: Dec 2003
Posts: 2,812
Originally Posted by Gjohnson
Yes. The banks that your family owns will not allow principal payments????
Hmmm........ I don't know what to tell you. The two banks that I have worked at here in Oklahoma are major banks (one holding over 10 billion in assets and the bank that I am at now holding well over 30 billion in assets) and both allow principal only payments, but just require a certain ticket. Both banks are extremely customer orientented, so maybe that does have something to do with it. It doesn't hurt to just call and ask though.
Hmmm........ I don't know what to tell you. The two banks that I have worked at here in Oklahoma are major banks (one holding over 10 billion in assets and the bank that I am at now holding well over 30 billion in assets) and both allow principal only payments, but just require a certain ticket. Both banks are extremely customer orientented, so maybe that does have something to do with it. It doesn't hurt to just call and ask though.
01-17-2006, 08:44 PM
#22
Originally Posted by Mass_Media
Im not saying we dont. Im just saying that the bank like to have there interest paid before they go down on principle. On some loans it says that you can't make pay over your payment amount. It all depends.
01-17-2006, 08:47 PM
#23
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Join Date: Nov 2004
Location: Clifton Park, NY
Posts: 4,035
Originally Posted by Mass_Media
Im not saying we dont. Im just saying that the bank like to have there interest paid before they go down on principle. On some loans it says that you can't make pay over your payment amount. It all depends.
They HAVE to make payment toward your principal on anything you pay over your required minimum required payment. If you send them anything over your payment, it WILL go toward your principal.
01-17-2006, 08:53 PM
#24
Mass_Media™
Join Date: Dec 2003
Posts: 2,812
Originally Posted by upstatemax
They HAVE to make payment toward your principal on anything you pay over your required minimum required payment. If you send them anything over your payment, it WILL go toward your principal.
01-17-2006, 08:58 PM
#25
Supporting Maxima.org Member
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Join Date: Nov 2004
Location: Clifton Park, NY
Posts: 4,035
Originally Posted by Mass_Media
No they still will. But you will get a fee for it
Incorrect, when you make your regualr payment, just add to it.
For example, mine is $406 a month, just make a monthly payment of $450 a money and you avoid the fine.
01-17-2006, 09:03 PM
#26
Mass_Media™
Join Date: Dec 2003
Posts: 2,812
Originally Posted by upstatemax
Incorrect, when you make your regualr payment, just add to it.
For example, mine is $406 a month, just make a monthly payment of $450 a money and you avoid the fine.
For example, mine is $406 a month, just make a monthly payment of $450 a money and you avoid the fine.
I have just heard people say that they get a fee or something like that (not late fees)
01-17-2006, 09:16 PM
#30
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Join Date: Nov 2004
Location: Clifton Park, NY
Posts: 4,035
Originally Posted by Mass_Media
I wanted to go into law.....how did you know? 
I have a "deep" family history in law and I have taken Quanitative Business Application Classes. QBA is a business "math" class. It is all about loans and business money... you can really learn quite a bit.
01-17-2006, 11:42 PM
#32
Originally Posted by upstatemax
Sure promote yourself...
Typical of a mod...
Typical of a mod...
Get off your anti-mod high horse.
01-18-2006, 08:22 AM
#40
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Location: Clifton Park, NY
Posts: 4,035
Originally Posted by SEmy2K2go
So show me where my response did not apply to his question or strayed from the topic or did not offer useful advice to his inquiry.
Get off your anti-mod high horse.
Get off your anti-mod high horse.
It was joke... dont be so sensative.
Since when have I been on an anti-mod high horse?