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Posted in Auto Loans
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dcloud906

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when making my car payment only 160 comes off the balance? whats going on

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How about the interest?  That is not considered as part of the balance (which is the original purchase price of the car).  Only the amount that is calculated as part of the principal will be deducted.  Ask the finance company for an amortization schedule so you get to see what part of each payment goes where. 

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