Ask a Lawyer and Get Answers to Your Legal Questions
Hello. My name is Alex.Thank you for your question.I will be happy to provide you with information you are seeking for educational purposes only.
Unfortunately, that is common accounting / billing practice when it comes to the auto financing and even major auto finance companies do apply extra payments toward the future payments and not toward the balance left and unfortunately, unless otherwise stated in the written finance agreement, such practice is not only legal but also very common with auto finance loans.
I wish you the best of luck!
Please let me know if you have any related follow up questions?If not, please positively rate and accept my answer, so I can be compensated for my work.Thank you.