According to an auto loan amortization calculator I should have had $126.00 towards interest for the 1st payment. My interest rate is 8.59%. Why so low for the 1st payment? Are they using a different amortization schedule?
Did you get the amortization from the loan co or did you get your own? Call the loan co and ask how much the break down was between interest/principle.
My auto loan amount is $17,629.23 and my monthly payment is $304.59, they only took $66.19 interest?
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Is it a partial month payment?
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I came up with the same as you… you should check to see if the amount towards the principle adds up.
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Did you get the amortization from the loan co or did you get your own? Call the loan co and ask how much the break down was between interest/principle.
References :
Retired bill collector 35 years.