Auto Loan Payoff Calculator

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.

A Little Extra

Fill in the boxes below to see how putting additional money toward your monthly payment may affect your payoff amount.

$
mo
%
mo
$
$

Please check the numbers

Loan term shortened by

0

Total interest saving

0

How Much Car Can I Afford?

Great question. Fill in the boxes below to help with the answer and determine what price you can afford to pay for a car.

$
mo
%
$

Please check the numbers

You may be able to afford a loan amount up to

0

Estimate your monthly new or used car loan payment

This tool can help you figure out how much you might spend each month for your car.

$
mo
%
$

Please check the numbers

Your monthly payment would be

0

The Refinance Option

Fill in the boxes below to discover if you can save money by refinancing your current vehicle.

Current loan

$
$
%

New loan

$
mo
%

Please check the numbers

Monthly payment saving

0

Monthly payment

0(current)

0(new)


Interest saving

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Interest payment

0(current)

0(new)


Change in Cost

To see the potential savings in fuel cost from your current vehicle to a new one, fill in the blanks below.

MPG
MPG
miles
$/gal
Avg. regular fuel price is

Please check the numbers

Annual fuel savings with the new car

0

*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.