I just made my first ever payment on my 2026 Honda Civic Sport hatchback.

I just made my first ever payment on my 2026 Honda Civic Sport hatchback. Let's see how much of that 406 dollar payment went towards the interest, which is just paying the bank, versus the actual principal, which is actually paying down the loan. So the car originally was about 29,000 dollars plus 699 for gap insurance, which apparently was super controversial to get. I put 8,000 dollars down, making my original loan 21,699 dollars and I got a 4.35% interest rate because I got the loan from a credit union versus a dealership, which is typically have a lot lower interest rates. With that loan I got from the credit union, they actually had 90 days of no payments. I had intentions on doing one payment every month of those three months just straight to principal. However, I miscalculated what 90 days was. I got the car first week of April and the payments already due June 30th. I thought the payment wasn't gonna be due till July, but April happened and now we're in May. So I just made my first payment and I actually did 100% towards principal as my May payment, so I did 406 dollars. So normally, especially in the first half of your loan, a good chunk of your payments going towards interest versus the principal, but since I'm doing a principal only payment, all of this going towards principal. So my new loan balance is 21,293 dollars. But if you do have those 90 days that they have no payments, consider making extra payments towards your loan so you can pay that principal down a little faster. And don't be like me, actually do one every month because I slacked hard. So I'll see you at the end of June when I make my actual first full payment, cause this was technically a fake payment.