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I would like to pay more on the principal of my car payment. How do I do that? I want to pay it off earlier.

I currently make 45,000 a year. the only debt I have is my car and I pay 262 per month for four years. I have only made 6 payments. how can I pay about 150 more per month and how long would it take to pay it off?

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If you are paying 262 per month for four years, then if you pay 150 more, you'd pay 412 per month. There are 12 months in a year, (12 x 4) = 48 months. This means that your debt is worth 12,576 (262 x 48). If you have only made 6 payments, then (48 - 6) = 42. (42 x 262) = 11,004; this is what you've left with to clear. You will have to divide 11,004 by (262 + 150) = 412, to get the remaining time to clear the balance. You'll have 26.70873786407767 months to clear the balance.

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Thad. I have to think about that. So once interest is added notated what you are going to pay it.
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