They answer that on the HMFUSA website, Payments and Fees.

 

HMFUSA From the website: Please make check payable to Hyundai Motor Finance.
Stop writing checks. If you do not already have one, create an account and set up Autopay from your checking account.

 

Be careful with HMF. They do not know how to apply principal-only payments. After a couple of experiences with their incompetence, I refinanced to get away from them.

 

All of my payment is principal. I got in on one of their 0% finance, 60 month payment deals when I purchased my Tucson. They frequently run these deals. We purchased ours in 12/23. Current 8/25 deals.

 

Ahhh, car loans. Although not 0% at the time, I scored the wife's likely 'Forever Car' at MSRP and $zero anything else. Considering the moderate but still favorable market returns at the time it was a slamdunk getting the maker's 3.5% financing promo. I've enjoyed looking over the amortization schedule from time to time and watch the interest side falling and the principal column climbing steadily. Just now checking there's $77 total interest left to divvy up into just eight remaining payments.

Then if I want to, I'll move my own 30yo sedan over to serve as backup garage queen, and hunt down a particular 5-8yo model sedan I've been targeting next.

 

Yes, somtimes the billing amount is as little as $80 but it doesn't show any breakdown of principle vs balance

 

You need to see the actual breakdown. Are they applying your extra payment to the Principal? It may be they are not. Some lenders will apply the payment to the principal automatically, some apply extra funds to next month’s payment, which won’t reduce your principal. From what you say they may be applying your extra payment to the next payment not directly on the Principal.

If you are paying the full amount plus more every month I think you are accomplishing reducing the principal even if they are not....

 

The last two posts sound similar to what I'm seeing. Do you thing it would do me any good to contact them and discuss? Or is it just the way it is?

 

Like mreg376 I don't know what if any real difference if they took it off the principal instead. I have to think if you continue to pay the full amount usually due, plus more and not the reduced amount they say you owe each month you are accomplishing the same thing..
There are apps that can tell you exactly what happens depending on how you pay.

I do know, lets say you made double payments each month none of the second payment went to principal. You would still have the loan paid off in 1/2 the time thus less interest as you are paying down in 1/2 the time. You are doing similar if not double each month but more each month. Even if none of the extra is going to principal, you will pay off the loan sooner with less interest...