Honda may be overcharging me on interested in first payment, any suggestion?
Honda may be overcharging me on interested in first payment, any suggestion? - 1
Maybe? So you have no idea
Yeah: Read your frakking sales and finance agreement THAT YOU SIGNED…
Most of your first payment will be interest. Interest is charged on the unpaid balance of the loan so more of your first payments go towards interest and a small amount goes towards the principle.
You can find loan amortization programs on line where you enter in the information about your loan (amount of load, term, and interest rate) and it will show you how much of each payment is for interest and how much is actually paying on the balance
Quit paying them… That'll show them!
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