Hi all -

Hopefully someone here can help identify what's going on with my auto loan. It has been going on since opened, but just find it a bit odd. What I show as my current balance vs. what they show is off by about $600 in their favor, so I thought I better take a closer look.

- Opened in 4/08, and I have a fixed 4.99% rate.
- Monthly payment is 456.53, but I always pay $500 and apply the additional to the principal

Here are the amounts from my last five statements:
Principal + Interest (Extra Principal is always $43.47)
387.80 + 68.73 (April)
354.28 + 102.25 (May)
382.73 + 73.80 (June)
366.30 + 90.23 (July)
385.92 + 70.61 (August)

I've seen some explain it by saying different number of days in the month, but there are $30 swings in there. Hopefully someone can lend assistance.

Thanks!

You should call the lender up to ask about this. There is no reason you shouldn't be getting fixed payments with minor swings in interest (because the principal is getting paid off quicker). I'm sorry I have no explanation for this other than calling them but I really think hounding the company is your best bet for a good answer.