Car Loan - last two months truncated
Quicken thinks my 60 month auto loan, which began in March 2019, ends in December 2023 rather than February 2024. I entered my monthly payment today, so it's showing my next payment as the remaining balance rather than the usual monthly payment. The loan description shows it started in March 2019 and it's 60 months. I've pressed recalculate and that doesn't change it.
Any and all ideas welcomed!!
Answers
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I assume that the auto loan account in Quicken is maintained as an "offline account", not connected to the bank for downloading.
In the past, did you always compare the principal and interest amounts, as calculated by Quicken during loan setup, to the monthly loan statements? Usually, there's a small difference, a few cents here or there, depending on how the finance company actually calculated interest based on payment date. Did you always update the transactions to keep the register balance in sync with the monthly statement from the finance company?
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Yes, it's an offline account and I have periodically updated to adjust the balance to match the statement. I have frequently had to adjust the payment to what it actually due. That carried forward until the next payment and upon closing Quicken after registering the payment, the next time showed a higher payment with a balloon for December 2023. I'm at the point where I can't change it.
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