Car payment amortization schedule
The longer you take to repay a car loan the more interest youll pay. In fact youll be paying much more in interest.
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And yet youre not paying any less for the car.
. Suddenly a 470 car payment becomes a 350 car payment. But thats not all. An amortization schedule is a complete table of periodic loan payments showing the amount of principal and the amount of interest that comprise each payment until the loan.
Many times banks will charge higher interest rates for longer loans further increasing your.
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