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Unread 2017-01-31, 12:32 PM   #39
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Location: NE KS
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Originally Posted by phreakdna View Post
they should be but places like Mint, etc still warn about it so I figured it wouldn't hurt to mention even if it likely had nothing to do with Scooby himself

the addl payments not going to principal deal is still the case with Nelnet for student loans (based on my experience with their site/organization) and was the case for Honda America with paying off my car as recently has 3 years ago.
Ah, student loans. On those we always had to specify and double check that we were paying principal on those. Even with documentation they are hell to deal with. I felt I could never trust them enough to do what they said they were going to do. After a few years, we started just saving money in an account and paying them off in full, one at a time. It was a little more interest, but a lot less headache. With the dollar amount of interest and the protections that they are awarded, I would think that the least they could do is treat people fair and respectfully.

I really like how Hyundai does it. If I pay extra, it is applied towards any accrued interest since the last payment, then the rest goes to principal (as it should be). They also consider it a future payment. So since I have paid ahead, I don't have to pay anything until Nov/Dec of this year (which is a nice thought) but if I do that, then the interest will keep accruing and I am back at square one, not having gained a thing.
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Last edited by 69Mach351; 2017-01-31 at 12:34 PM..
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