Question about Interest

[~PalmTreeGurl~ 154]

Ok heres what Im not understanding about my car payments. Over on the far right side is how much money per month I paid on my car note. Payments are due by the 19th of each month so clearly none has ever been late. The amounts on the left is what goes to the principle and the 2nd amount is what goes to the interest. How come when I paid $200 on 7/14 10/15 and 11/17 the interest is almost higher and higher? I thought the interest should be going down each time I make payments. My car note is only $193 a month... any ideas???

11/17/2009 Payment received $128.97 $71.03 $200.00

10/15/2009 Payment received $140.96 $59.04 $200.00

09/18/2009 Payment received $131.58 $77.65 $209.23

08/14/2009 Payment received $135.12 $69.80 $204.92

07/14/2009 Payment received $140.57 $59.43 $200.00

06/18/2009 Payment received $81.61 $78.39 $160.00

[w¡n9Nµ7 §£@¥€r 123]

That does look odd. Have you asked your lender?

[*julez* 124]

maybe because you didn't pay enough in June?

[~PalmTreeGurl~ 154]

I asked them last week, that if I pay anything extra towards my car note would it go to the principle and she said yes. But then I just made a payment and check online and the interest took over 33% of the payment I made!

[w¡n9Nµ7 §£@¥€r 123]

I asked them last week, that if I pay anything extra towards my car note would it go to the principle and she said yes. But then I just made a payment and check online and the interest took over 33% of the payment I made!

Don't ask the monkeys that answer the phone. Ask for a supervisor.

[~PalmTreeGurl~ 154]

Well in May I paid about $30 or so extra, so in June I didnt have to pay the full $193 bcz I knew I had a medical bill to pay. So then when I paid in June it said I only had to pay the $160 bcz I had the $30 credit from May.

[~PalmTreeGurl~ 154]

Ok heres what Im not understanding about my car payments. Over on the far right side is how much money per month I paid on my car note. Payments are due by the 19th of each month so clearly none has ever been late. The amounts on the left is what goes to the principle and the 2nd amount is what goes to the interest. How come when I paid $200 on 7/14 10/15 and 11/17 the interest is almost higher and higher? I thought the interest should be going down each time I make payments. My car note is only $193 a month... any ideas???

11/17/2009 Payment received $128.97 $71.03 $200.00

10/15/2009 Payment received $140.96 $59.04 $200.00

09/18/2009 Payment received $131.58 $77.65 $209.23

08/14/2009 Payment received $135.12 $69.80 $204.92

07/14/2009 Payment received $140.57 $59.43 $200.00

06/18/2009 Payment received $81.61 $78.39 $160.00

even 7/14 came out better by paying only $200 bcz I see the interest was alot less then 8/14 when I paid over $10 extra on my car note they ate more interest from it. hmmm So a call to BBT bank pointing this out would be a good idea?

[Niels Bohr 72]

I remembered with my first car, we signed off on the total cost of the car with interest on the sales contract. It showed the sales of the car with all the interest totaled in. So, when I applied $500 on the car sometimes $200 gets applied to the principle, sometimes $100. One year, the interest were deducted at increasing order of value. Example, $100 in January, $111 in Feb, 211 in March. But, in the end it came out as the sales contract showed totaled with interest. So, the situation depened.

[w¡n9Nµ7 §£@¥€r 123]

bbt has actual branches, why not go in and ask?

[~PalmTreeGurl~ 154]

bbt has actual branches, why not go in and ask?

Yes I see that now, theres one about 23 miles away.