answersLogoWhite

0

I think you are referring to the principal on a car loan. The principal is the amount actually due on the loan. When you make a monthly payment, the first part of the payment is applied to interest and then to the principal. Example: You have an outstanding balance of $1000 this month at 12% interest, and your payments are $100 per month: From your $100 payment, $10 is for interest, and $90 is applied to the principal.

User Avatar

Wiki User

15y ago

Still curious? Ask our experts.

Chat with our AI personalities

TaigaTaiga
Every great hero faces trials, and you—yes, YOU—are no exception!
Chat with Taiga
JudyJudy
Simplicity is my specialty.
Chat with Judy
ProfessorProfessor
I will give you the most educated answer.
Chat with Professor

Add your answer:

Earn +20 pts
Q: What is the principal payment on a car?
Write your answer...
Submit
Still have questions?
magnify glass
imp