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A Gmac 72month Loan

user3657

By user3657
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user3657 Enthusiast

user3657

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i have a gmac 72month loan at 1.9%. as soon as i get the bill i rush to transfer the funds to my bank so i can pay it. my thinking is if i pay it as soon as it comes vs when it is due, i save that interest. or is my thinking way out there and it doesnt matter, as long as i pay by the due date i would still owe the same at 72months?

J-man67 Senior Enthusiast

J-man67

Posted
Posted
It doesnt matter as the interest is calculated in your monthly payment.

 

Correct! The only way to avoid some interest charges is to pay it off early.

txab Senior Enthusiast

txab

Posted
Posted
It doesnt matter as the interest is calculated in your monthly payment.

 

Correct! The only way to avoid some interest charges is to pay it off early.

 

 

 

+1

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