macchiaz-o
Well-Known Member
- First Name
- Jonathan
- Joined
- Nov 25, 2019
- Threads
- 169
- Messages
- 8,175
- Reaction score
- 15,337
- Vehicles
- MY21 J1 Premium RWD SR
By sending in $600 instead of the smaller amount that was scheduled to be due, is this causing a reduction in the balloon amount?No, if you pay more than your scheduled monthly payment the next months payment will be reduced.
My first monthly payment was $589.49. Because I like round numbers I have scheduled $600 sent in monthly. $10.51 more than my normal payment. My second monthly billing statement arrived and the payment due was $578.98. ($10.51 less) I paid $600 again.... third payment statement says $568.47 due next month, $21.02 less. And so it goes.
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