Amortization?? - Page 3 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

bumblebee123 · 07-15-2009, 12:29 AM

yep. I won't do any Amortization. That's a lot of wasted money.

Sidewinder · 07-15-2009, 11:31 AM

Suggest you visit the person who is setting this up for you and demand an explanation of the financing fine print. Also suggest that if you are new to the process of purchasing and financing a car you may want to have a knowledgable person with you. Usually a balloon payment consists of interest payments only with the principle due in one lump payment and the end of the contract. /B]

Vash · 07-15-2009, 11:39 AM

Quote:

Originally Posted by bumblebee123

yep. I won't do any Amortization. That's a lot of wasted money.

Well Amortization means a loan schedule. Depends on how you use the word. It can also mean a schedule containing different payments. But it's more of a generic word.

If you get a loan your doing an Amortization, reguardless of type of loan or terms.

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
How much are you paying monthly for car & insurance?	StlRomAniaN	5th Gen Camaro SS LS LT General Discussions	79	09-29-2009 01:59 PM

07-15-2009, 12:29 AM	#29
bumblebee123 Drives: Fast & the Furious Join Date: Feb 2009 Location: Burnaby Posts: 116	yep. I won't do any Amortization. That's a lot of wasted money.

07-15-2009, 11:31 AM	#30
Sidewinder Drives: 2SS/RJT/A6/Received 09/09/09 Join Date: Jun 2009 Location: Frederick County, VA Posts: 597 View My Garage	Suggest you visit the person who is setting this up for you and demand an explanation of the financing fine print. Also suggest that if you are new to the process of purchasing and financing a car you may want to have a knowledgable person with you. Usually a balloon payment consists of interest payments only with the principle due in one lump payment and the end of the contract. /B]