I just checked into a bi-weekly option because I just got my loan information.

Currently I'm set to pay $838.58 a month. I figured out if I pay bi-weekly I would pay approx $386 every 2 weeks, which works out to about $65 saved a month! Of course you end up paying 26 payments instead of "12 or 24 equivalent" but since I get paied every 2 weeks I might as well.

Total savings is $6 a year over the 5 years, so $30 Not much but at least it will feel less because of the less amount going out each month.

I could increase my payments to like $460 every 2 weeks, a $90 a month increase and get the payments done in 4 years.

Something you should look into if you haven't already. I'm going to call my bank tomorrow.

 

Doin' it...

 

Yep, credit union auto deducts every paycheck (two weeks). Last three cars have been this type, wouldn't have it any other way.

 

Wing, I take it you went through Mazda Financing backed by scotia bank?

 

I went through Mazda FInancing through BMO.