Payments. Here's my plan
Elite HDF Member
Joined: Mar 2006
Posts: 3,673
Likes: 606
From:
RE: Payments. Here's my plan
ORIGINAL: Biggzed
One rule of thumb I have tried to live by to pay things off early is:
Figure out what the principal and interest are separately. When making your payment each month, try to double the interest portion every month. You will pay it off in less than half the time. For example:
Monthly payment (principal + Interest) is $200
Principal is $50
Interest is $150
Try to pay $350 each month.
i always pay extra on the principle never on the interest. the principle is what you actually owe. reducing that reduces the interest you pay. the interest is going in someone elses pockets. the principle is going in yours. someone is going to explain paying extra on the interest to me cause i don't get it.
One rule of thumb I have tried to live by to pay things off early is:
Figure out what the principal and interest are separately. When making your payment each month, try to double the interest portion every month. You will pay it off in less than half the time. For example:
Monthly payment (principal + Interest) is $200
Principal is $50
Interest is $150
Try to pay $350 each month.
i always pay extra on the principle never on the interest. the principle is what you actually owe. reducing that reduces the interest you pay. the interest is going in someone elses pockets. the principle is going in yours. someone is going to explain paying extra on the interest to me cause i don't get it.
Road Master
Joined: Feb 2006
Posts: 893
Likes: 0
From:
RE: Payments. Here's my plan
SEVENTY MONTHS LEFT on a Bike?
Holy COW !!!
I've had (and paid off) house mortgages for less time than THAT !
However.....the sooner you get it paid off, the better you will be. Remember, that, a motor vehicle (yes, EVEN a Harley) is a Depreciating asset, and as such, should be farther down the list of things you should be doing. Fun is one thing...Security is another.
Holy COW !!!
I've had (and paid off) house mortgages for less time than THAT !
However.....the sooner you get it paid off, the better you will be. Remember, that, a motor vehicle (yes, EVEN a Harley) is a Depreciating asset, and as such, should be farther down the list of things you should be doing. Fun is one thing...Security is another.
Tourer
Joined: Dec 2006
Posts: 456
Likes: 1
RE: Payments. Here's my plan
ORIGINAL: dragonfiregirl
my car is paid for. 69 camaro was my dads until he let me have it. im only 18 and dont have much credit history so my bike loan is going to be my big test
my car is paid for. 69 camaro was my dads until he let me have it. im only 18 and dont have much credit history so my bike loan is going to be my big test
LOL
Extreme HDF Member
Joined: Sep 2006
Posts: 10,033
Likes: 29
RE: Payments. Here's my plan
ORIGINAL: whaap
If, as mentioned in an above post, your car is a Saturn coupe would you be considered an automobileposer for calling it a sports car??
If, as mentioned in an above post, your car is a Saturn coupe would you be considered an automobileposer for calling it a sports car??
Thread
Thread Starter
Forum
Replies
Last Post
Lightngsvt
General Harley Davidson Chat
96
Jun 5, 2007 05:10 PM
