I am looking at my car bill and on the right hand side of the bill under the 'Payoff Balance' is 'Payoff Good Through'. Does anyone know if that means that that is when the car will be paid off or not under contract anymore?
2007-01-26 03:48:41 · 3 answers · asked by jbean4jc 1 in Cars & Transportation ➔ Buying & Selling
That means the TOTAL AMOUNT OWED on your loan if you decide to pay the whole thing off. The amount listed on your statement is good through that date.
If you make another payment for the following month, the statement amount would change.
2007-01-26 03:57:46 · answer #1 · answered by rob1963man 5 · 0⤊ 0⤋
It is the total cost of a lump payoff in the event you wanted to pay all of the loan on your carr off. The reason they date the amount is because after that date the amount changes due to interest or another payment due etc.
2007-01-26 11:54:16 · answer #2 · answered by shifty67 3 · 0⤊ 0⤋
most likely...they giving you a figure to pay off your loan in one lump sum....It keeps you up to date on your payoff amount every month...
2007-01-26 12:17:51 · answer #3 · answered by overhereyoupretty 3 · 0⤊ 0⤋