Accelerated Payments

Don't know what to do with that extra 23 grand in your B of A account? It was nice bonus money from your hired assassin gig. Well, why not take 10 grand of it and accelerate the payments on your car loan? That's what accelerated payments are. You don't owe the money, but you choose to accelerate the paying-off of whatever loan you're sitting on. Do the math. Usually paying off loans faster than they're due is a good thing. Note the gorgeous corporate offices of Bank of America and Wells Fargo.