So I have 72 month 1.9% Honda Finance loan for new Accord.
I just made my first payment due September 22 and I see there is an option to pay over my scheduled payment amount and I can choose whether the extra dollars go to the principal or to the total loan balance.
Under what circumstance would I NOT WANT my extra dollars going toward the principal amount? ( i paid $100 over and selected principal this time.)
It seems like a no brainer but is there something I am missing where I would only want to pay down the total loan amount?