Does making bi-monthly car payments help pay off an auto loan faster?

Does making bi-monthly car payments help pay off an auto loan faster?

I have always heard that making bi-monthly payments on a home loan will cut almost 7 years off of a 30 year home loan. For example: My mortgage is $1100 and due on the first of the month. I had some extra money one month and paid $550 in the middle of the month and then the other $550 on the first. Now instead of making one monthly payment of $1100 on the first, I make two payments of $550 during one month. My question: Is that true for an auto loan? My payment is $150 and I have been doing $75 each pay day instead. Now my statement says my next amount due is $25. So I know that by paying the bimonthly payment I have gotten the total amount due down. But I also know if I just paid that $25 next month, then the payment due would go back up to $150. But that doesn't really tell me if I am working to pay my loan off faster. I don't trust banks. Anybody got any facts?

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because insurance is a binding agreement that requires one parent to have a valid license, and neither of mine do, I cannot buy auto insurance. - My grandparents will not help me either I have 1000$ to buy insurance, and I will drive either way, insurance or not, is there any loophole around this law? thanks.

Will I need an SR-22 insurance?

My license was suspended for one year, I get it back this year. 18 year old male. Wisconsin. This is my record, 12-31-2011 Driving 1 to 10 miles per hour over the speed limit (3 POINTS) 04-15-2012 Imprudent speed (8 POINTS) 06-08-2012 Driving 20 miles per hour or more over the speed limit (12 POINTS) 08-19-2012 Imprudent Speed (8 POINTS) Also, what should I expect the insurance to cost and is it required?

Whats the cheapest auto insurance for someone in Texas?

Whats the cheapest auto insurance for someone in Texas?

Passed driving test recently... going on parents insurance question?

Hi, I passed my driving test last week and have been looking at insurances and they average around 8000, even on my parents car.... they are on admiral multi car one has a 2009 ford fiesta Ztec and another a 2010 ford mondeo.. But my dad who has the mondeo was quoted 2000 for me to be on his insurance and my mam with the fiesta was quoted 3500. What is the best things to do, insurance company to look at and ways to get the price down somehow

How do i get insurance?

ok i saw one i like what should i do next ? should i call them ? and i want to pay monthly, and how soon do you think my insurance can be started? and can i start today?

Home insurance automatically renewed can I get my money back?

Firstly, yes I am an idiot and should read my post more carefully.... I have just realised that I have been paying two sets of home insurance for a year because my previous years had been automatically renewed.....can I get my money back?

Is there health insurance for domestic partnerships?

My partner and i have been together for 4 and 1/2 years and he is in need of a full coverage insurance for his university. we wanted to try doing it together if at all possible.

Insurance after driving ban?

Does anybody know of any cheap car insurance company's that deal with drivers that have recantly been banned?

Question about changing term life insurance companies?

My term, no medical exam life insurance is almost up for the 10 years and it's going to renew higher than what I can get from another company, so I am going to apply at another company online and cancel the old one, but it says are you planning on replacing another policy? if yes, you can't buy this insurance, if no then you can buy it. I don't understand, why wouldn't they be happy to get another customer, is it illegal to change companies? I am in California. Should I just put no so it will accept it?

Do all auto insurance companies check with your DMV for your driving record?

I got some minor accident on my record, something like bumping into someone and leaving a dent, I don't even really remember it was like 4 years ago. Anyway, this car was a rental that I dented and a very expensive one at that, ended up being 2500 to fix even though I could have popped the dent out for free. But because of this incident, state farm and geico are charging me out the wazo because I'm a 20 year old male with speeding tickets and this accident thing that happened a long *** time ago. The difference without the accident on there is amazing, so I'm trying to find a place that will ignore this thing that happened in SEP of 04. Anyone know of a place? Thank you.

How much will car insurance cost me per month?

I'm 18, just passed my test in April and want to get insured on my mums car. I want to only get insured for the summer so lets say i want to be insured for one month on my mum's VW Golf 1.8. I know its a big engine but its an ancient car...i think its 18 years old and my mums insurance is quite cheap atm she has over 6 years NCB i think. So how much will it cost me to be insured for one month on my mums insurance?

Is it a legal requirement to have insurance when you are self employed?

I am about to sign a contract, as a self-employed contractor, and one of the point refers to me having liability insurance. Is it a legal requirement?

How much is a non owners sr 22 insurance?

I been court ordered to get a sr 22 insurance in order to get my licence back and i do not own a car.. so i have to get the non owners sr22. i have too keep it for three years . i was woundering how much that would be, monthly?

Generally speaking, what's the cheapest auto insurance you could get?

Generally speaking, what's the cheapest auto insurance you could get?

Small and cheap to insure ideal first cars?

first car for a 17 year old, no more then 1800, MUST be small and cheap to insure and preferably a respectable looking car :')

How does a Deductible on car insurance work?

Is it a good idea to have one on my car insurance ? And if i have one will my payments go up each month?

Car insurance for new drivers!?

Will car insurance for a 19 year old be allot cheaper than a 17 year old? Both being NEW drivers.

How much money does drivers ed save on car insurance?

Is the amount saved by drivers ed a lot, meaning does drivers ed pay for itself by helping lower your insurance cost?

Why do companies that claim to offer them the best insurance quotes sell leads?

I was shopping around for insurance quotes on my home and cars. Many of the websites that I came across claimed to offer the best quotes from different companies thereby getting me the best price. I started filling out a few forms and, for once, I decided to read the fine print ( you know that small font form we all click agree on). Basically what I found was that the company used 4 agencies that paid them to contact me. What the site was trying to advertise to me was that i would have he best possible quote in the world without having to call up the many insurance agencies around me individually. In reality the fine print ( which in the case of the Internet can be 25 clicks hidden) states that they offer quotes from companies that pay them. Why not state that the information I'm giving them is a lead and that people that get it pay for my information and those that don't do not get it. What about some insurance company that can't afford to pay for my information but can offer me cheaper insurance than those that do pay hat site? I wouldn't be so ticked off if these sites simply stated that they sell our information. Rather than try to make it seem as they find you the best price. False advertising is a cancer. http://www.4freequotes.com/web2000/agents/ http://www.netquote.com/about/media-kit.aspx http://www.netquote.com/affiliate/ http://www.2insure4less.com/insurance-leads http://adrianasinsurance.com/about_adrianas/terms/ Go to any free quote webite and read their privacy policy and the page that's made for affiliates/agents, you will clearly see how your information is sold.

What is the approx. monthly cost for a car insurance for a 19 year old?

i have about one year with my license, i dont have a car yet, but i want to learn more about car insurances before i get one, and i want an idea of what is the cost.

Does making bi-monthly car payments help pay off an auto loan faster?

I have always heard that making bi-monthly payments on a home loan will cut almost 7 years off of a 30 year home loan. For example: My mortgage is $1100 and due on the first of the month. I had some extra money one month and paid $550 in the middle of the month and then the other $550 on the first. Now instead of making one monthly payment of $1100 on the first, I make two payments of $550 during one month. My question: Is that true for an auto loan? My payment is $150 and I have been doing $75 each pay day instead. Now my statement says my next amount due is $25. So I know that by paying the bimonthly payment I have gotten the total amount due down. But I also know if I just paid that $25 next month, then the payment due would go back up to $150. But that doesn't really tell me if I am working to pay my loan off faster. I don't trust banks. Anybody got any facts?

https://www.linkedin.com/pulse/does-parking-ticket-raise-insurance-larry-baker/