If you pay over your monthly car note does it count as a credit toward the next months bill?

Question

My car note is $188 a month through wachovia for a 2007 chevy aveo. I was wondering if I paid, say, $400 then would it be credited toward the next months bill too or would I owe $188 the next month too?

Answer 1

it wont go thru a computor like that so why not just save it til next month.. if its a place you drive up too and walk in type payment you can but still might get a note.. is smarter to pay off faster

Answer 2

You would still owe $188 next month. Its wise with any type of loan to pay more then what you owe every month to help it get paid off quicker, hence you will be shaving off a bit of the interest.

Answer 3

Your milage may vary depending on your choice of lender.  My car note is with Chase, and my bill has check boxes for credit toward next month (default), or to principal reduction.

For Wachovia, the first url below says:

"Consumers: For questions about your Wachovia Dealer Services account, please contact Customer Service online or by calling 800-289-8004."

Answer 4

it will go directly to the principal.