Auto loan early payoff calculator
Apr 05, 2024
Save time and interest
Wondering how to pay off your car loan faster while saving interest? Increasing your monthly payment could be a smart way to save yourself money in the long run. The Bankrate Auto Loan Early Payoff Calculator will help you create the best strategy to shorten your car loan’s term.
Enter your information into the early loan payoff calculator below, including your additional monthly payment, and click “Calculate” to see your total savings. Click "View the report" to see a complete amortization payment schedule.
Before you commit to an early payoff, check your loan contract for prepayment penalties. Make sure your savings will outweigh any fees you might face.
Calculators provided by Bankrate.com
Auto Loan repayment shortened by 1 year and 1 month
| Auto Loan Payoff Inputs: Press spacebar to hide inputs | Total savings $894 |
Current payment:
$396.02
Report amortization:
| Auto Loan Balances and Interest press spacebar to hide graph |