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GMAC / Pontiac Sunfire / Over paying a loan!

1 United States Review updated:

About 3 years back, I had no choice but to get my wife a new car. To make this as short as I can. I been doubling up on the payments every chance I get. I came in to a few dollars so I thought to pay the car off early. I added up all off the payment slips that were left in the book and mailed in that amount. Now to me that should be payed in full. The finice company says that is not the case. that I have to send in a payment with each slip. Now at this time they say I do not have to make a payment for another 7 months. yet there are only 5 payment slips left. can you help me to understand this.

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  • An
      12th of Jun, 2008
    0 Votes

    The amount of coupons you have in your book does not add up to the payoff. Coupon books are sent out yearly with only 12 coupons. Even if you have a 60 month loan, for example, you are only going to get 12 coupons in a book. It doesn't make sense that you would just add up the coupons you have left in your book and think that's the payoff. It would be nice if it worked that way, but it doesn't. Unfortunately, you don't have a valid complaint here. You are in the wrong, not GMAC.

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