What is the easiest way to make a principal payment? Should I just write a check to Toyo for amount or should I call them?

Just not sure about the process. Trying to get my payoff down as I sell my mods to get it ready for the trade-in.

 

I would call and ask them. I think most financial places handle that a little differently. Like, with some of them you might be able to include a note or some you might have to do it over the phone. But I'd say call whoever it's with (TFS?) and just ask them the best way to do it.

 

talked with TFS... I asked because the few times I had paid extra, w/e amount I paid was just deducted from my following months payment.

The TFS Rep said that was an issue with the payment system, and that any amount paid over your monthly was in fact deducted from principal and not interest. Its just that the system reflects that amount in next months payment. She said they are going to fix that.

 

Ah, OK. So it's just a system glitch anyways.

 

Based on what I've been paying, 33% over the minimum, It looks like they take the extra and apply straight to the principal. I've made a year's worth of payments in only 8 months. It shows in your payoff on their website.

 

yea one time i put 2k in the envelope.. my next payment wasnt due for a year lol

 

I pay to much =( 1200 a month,the real payment is only 400 ish

 

I need to call on this as well. When I first started making payments, I paid $10 bucks over the minimum ($350) and since then I've continued to pay $350 every month. So every month it has compounded and I pay more and more over the "new" minimum. What I need to double check is to make sure the "extra" cash is going towards the principal...