No, TFS uses a simple interest method with their loans. Any excess paid will be applied to the principle, and the principle goes down with each payment. So if you could afford to pay more than the monthly, you could pay it off for less and sooner. You don't owe a total of $27000, you owe the principle + interest calculated daily - the payments you make.Originally posted by starlitewalker@Oct 28 2005, 07:39 PM
but won't i, no matter what, always owe toyota $27000?