How much interest can you save by increasing your auto loan payment? This financial calculator helps you find out. View the report to see a complete amortization payment schedule, and how much you can save on your auto loan!
Auto Loan Early Payoff
Auto Loan Early Payoff Definitions
- Auto loan amount
- The original amount financed with your auto loan.
- Remaining balance
- Calculated estimated remaining balance for your loan. This assumes that all payments have been made on-time and your account is in good standing.
- Annual interest rate
- Annual interest rate for your auto loan.
- Original loan term
- Total number of months of your original auto loan.
- Current payment
- Monthly principal and interest payment based on your original loan amount, term and interest rate.
- Number of months remaining
- Total number of months remaining on your original auto loan.
- One-time additional payment
- Your proposed one-time additional payment. This payment will be used to reduce your principal balance. It will shorten the time required to repay your auto loan and reduce the total amount of interest paid.
- Additional monthly payment
- Your proposed extra payment per month. This payment will be used to reduce your principal balance. It will shorten the time required to repay your auto loan and reduce the total amount of interest paid.