Want to see what you can save by paying a little extra every month? We think you’ll like it.
Are you the type that likes to work the system? Use this auto loan payoff calculator, and see how putting down a bit extra every month can actually shorten the life of your loan. Every little bit helps, but don’t take our word for it. See for yourself.
You may be able to afford a loan amount up to
Your monthly payment would be
Annual fuel savings with the new car
*APR is the Annual Percentage Rate or the cost of your credit at a yearly rate.
There’s no question about it. Knowing every detail of the car loan BEFORE you get into it is vitally important. But did you know that you could actually save money AFTER you have signed on the dotted line? Take the auto loan payoff calculator above to see what we mean.
It’s simple. Paying more than your scheduled loan amount in a given month actually reduces the total amount you owe, called the principal, without that money going to pay for interest. And once you complete paying off the entire principal, you’re done. If you have reduced the life of your loan by, let’s say, three months, then that is three months of interest payments that you will never have to pay. You can actually reduce the overall amount you would have paid if you pay off your loan early.
Once you learn about the details of the loan process and how they apply to you, you can apply
for financing with confidence, and get on the road.