*Loan,banking and credit>>>auto loan

What's the difference in making a auto loan payment and making a auto loan payment on just the principal?

Every loan payment (auto, home etc) includes a portion applied to accrued interest and a portion applied to the principle--the amount you borrowed in the first place.

When you make your monthly payment you are paying a portion of principle and he accrued interest. If you include an amount above what is required to keep the loan current, you are paying down the amount of principle you owe and thus saving on future interest charges.

You can only make an auto loan payment on principal only if you have already made your auto loan payment in any given month. Actually...the best way is to include 2 checks in one envelope to the lending institution. The first for your actual scheduled payment and the second for principal only...and be sure to label that second check as such. In other words, you can't skip a regular payment and try to pay on principal only. Good luck