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Vent: I stopped rounding my payment up and my 62 month loan on a 2019 Kia finally makes sense
I always figured paying $25 extra each month was chipping away at the interest. Then a guy at my credit union in Fort Wayne walked me through my actual statement and showed me it barely touched the interest, it just moved the payoff date a few weeks. What actually helped was splitting the payment in half and sending it every two weeks, which caught the interest sooner. My balance dropped about $400 faster over 5 months. Now I check the amortization chart before I feel proud of myself. Anyone else get fooled by the round-up thing?
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