Paying extra on car loan?

I have car loan high interest only had 3 months now.

I plan to refinance in 6-12 months.

If I send extra 100 dollars every paymet I assume it is applied to principal right?

I noticed on a 385 dollar paymet less than 100 went to principal.

Am I doing the right thing sending extra money I noticed my payoff amount hardly went down from last month.

Should I send as much as I can every month or just pay exact amount till I refinance in 6-12 months.

Thanks

Paying extra on car loan?

Instead of making one monthly payment, make a payment as often as possible. For example, say you get paid weekly... Pay at least a quarter of your payment every week(i.e. make a weekly payment of 75 dollars instead of a 300 dollar monthly payment). I have mine set up electronically through my checking. That will bring down your principle quicker because less interest will be accrued through out the month, even if you are only paying to minimum.

Paying extra on car loan?

Save your money. Lenders look for payments paid on time and a lot of them. They want to see 12-18 months worth of reported payments. It's a time factor not a money one.

Paying extra on car loan?

Yes your money will be applied to principal. They will show you a discount on next months payment but you just need to ignore that and keep making your regular payment plus $100.