Capital One Auto Refinance

[Anonymous]

That's awesome about your gap and your math does add up but you are not taking out the interest that you will have to pay every month. If you plan on paying $600 all together a month (that includes your minimum monthly payment) then all of it won't go straight to your principal....the interest gets taken out first then the rest goes to your principal is that makes sense.

I'm going to post a picture of a chart that will show how much of your payment will go to principal and how much will go to interest every month (just out of your minimum monthly payment) . Anything you pay over will go straight to your principal so just add that on top of the amount that is already going to principal (if that makes sense) I calculated this online and I don't know your exact numbers so I just put in 19.2K at 6.5% for 60 months with today as a starting day. Based on this chart it says that your monthly payments will be $375 which isn't what you posted but again this is just a estimate so u can see how much will go to principal every month and how much will be paid down in a year! Hope it helps.

[Anonymous]

[Anonymous]

Okay so it looks like In 12 months you will owe about $16,129 remaining by just making your monthly payment (nothing extra) if you pay $175 extra a month for 12 months then it looks like you will owe about about 14K still (because a portion of your regular monthly payment a month goes to interest)