There's something to be said about not reading or understanding the contract, but let's assume the original poster did understand everything.
Not to hijack the thread, but I recently purchased a John Deere riding mower. It's in the 700 series, so it's a nice big one, with removable deck you drive over and also got the 60 inch snow blower attachment, all for a grand total over $15,000! We financed, and financing had to be through John Deere. All is happy.
Then my wife wanted to set up an auto pay from our checking account and as we always do, she opted to make a regular monthly payment greater than the minimum so the additional would be applied to principle. All is well, so far.
So, the first auto pay hit, and it was only for the minimum. She called Mr. Deere and they explained they only withdraw the minimum and no more. AND if we make any additional payment, the extra is applied to NEXT MONTH's interest first, and NOT to principle. (WHAT!?) I about blew a gasket! Mr. Deere said, it's in the contract! Sure 'nough, it is! Did I read it.... um no! But there is no penalty if we pay it off one lump sum. Live an learn. So we just making minimum payments and apply the extra to our trailer payment now!
So ya know, even the best of us can be slothful from time to time! Live and learn.
