On 7/20/05, I borrowed $10,000.00 @ 8.5% for four years to purchase a vehicle. Monthly payments were $246.56 beginning on 8/20/05. Considering the account was current as of 5/29/07, what would be the payoff amount on 5/29/07? Also, on 12/06/05, $24,916 was borrowed @ 11.75% for four years to purchase a vehicle (another, not the aforementioned, loan was refinanced into this loan also). Monthly payments were $653.12 beginning on 1/06/06. Again, considering the account was current as of 5/29/07, what would be the payoff amount on 5/29/07? Both loans had no early payoff penalty and interest was calculated as simple interest.
There are too many variables involved in the way loans are processed to provide you payoff figures on your loans. Your best bet is to contact the company or bank to whom you make payments, and ask them for a payoff figure. You can get a rough idea of what your balances should be using our Auto Loan Calculator.
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There are too many variables involved in the way loans are processed to provide you payoff figures on your loans. Your best bet is to contact the company or bank to whom you make payments, and ask them for a payoff figure. You can get a rough idea of what your balances should be using our 