I just bought a car with  a loan.


Can I apply a payment to the loan to lower the payment without refinancing fees?





Hello @Dismissed, Thank you for reaching out. Regrettably, there is no option to lower the scheduled monthly payment without refinancing the remaining balance of the loan. - Ben

...but you have to admit if it is permissable to do that some mortgage loans why is it not a good idea for an auto loan?  New product the other guys would not have, USAA!

Related is the typical financial advisor advice not to ever take money temporarily from your IRA to payoff consumer debt/loans.  That is NOT the best advice.  The reason they "advise" against such a tactic is to assume that everyone has no amount of self control to actually replace the IRA borrowed funds in time to avoid a penalty caused by not following the strict requirements of the "60 Day Rollover".  We often used IRA funds and repaid them to payoff USAA car loans, equity loans, and a boat loan very early.  We always replaced the IRA funds within the time limit for no penalty.  


Sometimes you can secure a temporary good deal on some consumer product or for emergeny use by tapping that IRA and paying it back within sixty days.  As long as you have a definite, workable plan and the self control to replace the funds back into the IRA within the time limit it is a handy strategy in order to avoid the daily rackup of interest on a consumer loan.  Be certain, should things go pear shaped, to understand the penalties involved.  


For all the details search:  60 Day Rollover, IRA