Hi,

Was wondering if someone could clarify a situation for me. I financed an 18-wheeler and begin making payments in Apr 05. My payments were to be $1115, but I sent in $1200 each month. My most recent statement shows a minimum payment of $932. Out of curiosity I called to see if the extra I had sent, with the instructions "apply extra to principle", went to principal. I was informed that it does not go to principal, but credited towards next months payment. The CSR said that it isn't normal for them to apply extra payment towards the principal since it is a fixed interest loan.
Does this sound right? I know the extra I pay towards my mortgage goes to paying down the principal, just thought that was the way things were done?

Please help.

I didn't find the right solution from the Internet.

References:-
https://bit.ly/2Hn1QFB
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Thanks