What happens if I make more than one payment per month on my car from Ford?

I want to ferociously pay my car loan off as soon as possible. My car payment from Ford is due every 15 of every month, but I was wondering if I could make more than one payment per month. Lets say if I make 6 payments in one month of 100 dollars on top of the monthly payment due on the 15 of every month, is that allowed by ford, or do they charge a fee for making extra payments on their car loans?

There may be limitations in your loan agreement. Just pay extra principle every month.

Couldn't you simply write a larger check every month? The one large payment will cover the interest, the usual principal payment, and extra principal payment. Trickling the extra payments out like that won't do anything interesting for you unless you have no will power and would be tempted to spend the money instead.

You get credited for what you pay, unless your interest is fixed, you can cut that down a lot doubling up payments.

You'll just get done paying for it sooner

Check the loan agreement concerning extra payments. If they are allowed, make sure they are CREDITED every time you make the payments. And if you have that kind of money, open a brokerage account and start investing in stocks.

You pay interest and principle every month. Any added payment is all principle. Doing this early in a loan dramatically shortens said loan. Basic economics here.

Some loans have early payoff fees. There's only one way to know if yours does, and that is to talk to your lender.

Just make sure you stipulate that the extra payment or funds go to principal only

Don't know

Just save it all up until the 15th and pay it in one lump.