Savings Mathematics

Negative equity means you owe more on your car loan than the car is currently worth. It is more common than most people realize, especially in the first two years of a loan when depreciation is fastest and your balance is still high. The short version of what this means for refinancing: it does not … Read more

Most people think of a car payment as a fixed monthly obligation. Same number every month until the loan is done. But your loan balance is not fixed. It changes every single month, and how fast it changes depends partly on you. Making extra payments toward the principal of your car loan does two things. … Read more