So I think last time I got a car loan, my interest was accrued monthly, at least I think it did. I have another loan now and it's daily interest accrual, and it tells me how much interest has accured since my last payment. So if I make a payment on the 14th, and check my balance on the 30th, it'll show 16 days of accrual. Do all auto loans do it daily and I just didn't notice before? Is there much difference in the amount of interest paid?
I'm ahead of my payment by a month but as of right now it shows about $24 in "interest accrued since last payment."
