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Posted in Auto Loans
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JarvisH19

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12 People Helped
when do my full amount start going towards my car note
I pay 299.28 monthly but when I look at my auto loan balance only a small portion is getting deducted from my auto loan. Why is this?

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 Because that's the way car loans go.  You are charged interest for the entire length of the loan and it will be paid off first, and the percentage of the amount going towards the interest will gradually decrease.

To see this for yourself (and see what the future amounts will be) try the amortization calculator on this site.  Play with it and see what extrsa you might have to send in to get the car paid off a whole lot sooner than originally scheduled.

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