cannot edit car loan

I have set up a car loan, but because of differences in the initial payment, the loan agency has a different monthly payment than is in the Quicken car loan account. Quicken will not let me edit/change the principal and interest amounts, so I have had to do it month by month. Is there any solution to this?

Comments

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Is the loan account connected to the bank for downloading?
    If yes, you cannot adjust the payment schedule and will have to manually adjust principal and interest on every monthly payment you make.
    Even if the loan account is not connected for downloading you will have to adjust each of the monthly payments by a few cents. A car loan is calculated differently than a mortgage and actual principal and interest will always differ by a small amount. Last car loan I had always required a slight adjustment to keep the loan balance in sync with the bank statement.