| Loan Amount - | (no down payment) - $28,508 | |
| Life of Loan - | 60 Months | |
| Total Cost of Loan - | $31,905 | |
| Total Interest Charges - | $3,397 | |
| Actual Cost of Loan - | $29,729 | |
| Actual Life of Loan - | 22 months | |
| Interest Saved - | $2,176 | |
This may not be for everyone but it has been my experience that a little extra every month over your regular payment will make a difference. I was lucky enough to send at least an extra full payment every month. Now comes the hard part, what am I going to do with this new found cash?... spend it on the MINI of course! ;-)
2 comments:
Nice job.. Start putting some of that extra $$$ away so you can buy your next car with no loan.
We are doing the same thing on our house and our 30 year loan should be paid off in under 15 if all goes well (and we will save a quite a bit more than 2K)
yup, I'm doing the same thing with my mortgage, too. :-)
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