Comments

1. 
   On August 05, 2010 Bubblelips says:

   No it doesn’t seem so. You probably paid five months of loan note already so the loan company is allowing you five months of non payment b/c you already paid. It’s allowing you and the company to get at the same pace.

   LS

2. 
   On August 05, 2010 Jay R says:

   The previous poster is probably 100% right BUT…there usually is really a small penalty for early payment. But that small penalty is so much less than the interest would be that in the end, you are doing absolutely the right thing. Pay as much as you can as early as you can.

3. 
   On August 05, 2010 Found-1 says:

   Sounds to me like they are jipping you, by taking that extra money and applying it to the next payment rather than taking the extra off the principal. (Where you’d be charged less interest)
   Of course this way you are early on payments in case you ever have a situation and cant make a payment… but the other way would save you money… which is what you wanted to do in the first place right?