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Level 3

Can I only pay my principle on my car note and not be penalized?

I would love the excel spreadsheet you were talking about in this thread if you wouldn't mind, that sounds amazing! I'm in the process of building a house! Here is my email:
[email address removed]
Level 2

Can I only pay my principle on my car note and not be penalized?

you want to make your normal payment each month on time then within that same payment period make a principal only payment of as much as you want that will reduce how much you pay in interest by a lot while lowering you principal amount.

Level 2

Can I only pay my principle on my car note and not be penalized?

@Carl Also can you send me the graph?

[email address removed]

Level 2

Can I only pay my principle on my car note and not be penalized?

That sounds like you have a very high interest rate. The best thing you can do is pay more every month. Anything above your required payment will go towards your principal. You should also look into refinancing for a lower rate
Level 2

Can I only pay my principle on my car note and not be penalized?

You can pay as much as you want towards the principal if you car payment is 400 you can pay as much as you want after that and it will.go towards the principal
Level 2

Can I only pay my principle on my car note and not be penalized?

Unfortunately, no you can not.  The most common way to lower your loan balance faster is to pay your regularly scheduled payment

( principle & interest ) PLUS an additional amount on the principle, if you're financially able to do so.   Also, shop around for an auto loan which includes a lower interest rate (APR).  And remember to never miss a scheduled payment.  If it looks like you're going to miss a scheduled payment, call your lender to discuss any options they may offer.  Best Regards, me.

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Level 6

Can I only pay my principle on my car note and not be penalized?

This is somewhat true but you can make payments toward the principle at any time as long as your loan is current. 

Level 2

Can I only pay my principle on my car note and not be penalized?

I would like the link for that spreadsheet of you can please
Community Manager

Can I only pay my principle on my car note and not be penalized?

@Carl I made a change to the Community settings to allow Excel files as attachments, so you should be able to upload now! Let me know if it doesn't work, or if you come across any other file types you'd like to upload. 🙂

Level 15

Can I only pay my principle on my car note and not be penalized?

Here is the spreadsheet for anyone who needs it. It's also attached to this post.

https://ttlc.intuit.com/community/s/dcgfr56345/attachments/dcgfr56345/other-finance-talk/389/1/intra...

 

Blocks in yellow can be changed. All others are locked to prevent accidents. However, if you want to unlock those locked cells, the password is "password" without the quotation marks.