Flynrider
Phoeix,#2Consumer Comment
Fri, June 12, 2009
You can find out for yourself how much the loan balance should go down. The payments on loans (particularly high interest loans from places like Drive Time) tend to go mostly to interest in the early part of the loan. Google a loan calculator and enter your loan amount, interest rate and term. Most loan calculators will show you an amortization table that tells you how much of each month's payment goes to prinicple and interest.