Auto Loan Early Payoff Calculator

Discover how much you can save by paying off your auto loan early

Enter Your Loan Details

Loan Amount ($)

Interest Rate (%)

Loan Term (months)

Loan Start Date

Payments Made So Far

0 12 months 60 months

Early Payoff Options

Extra Monthly Payment ($)

One-time Extra Payment ($)

Results Summary

Standard Monthly Payment

$462.90

Interest Savings

$1,245.65

Time Saved

8 months

Payoff Comparison

Original Payoff Date

Jan 1, 2025

New Payoff Date

May 1, 2024

Original Total Interest

$2,774.00

New Total Interest

$1,528.35

Payment Breakdown

Current Balance

$18,486.25

Remaining Payments

New Monthly Payment

$562.90

(Including extra payment)

Total Extra Payments

$4,000.00

Payoff Visualization

Payment Schedule Comparison

Year	Original Balance	Original Interest	Accelerated Balance	Accelerated Interest	Savings

Tips to Pay Off Your Auto Loan Faster

Make bi-weekly payments - Instead of monthly payments, pay half your monthly amount every two weeks. You'll make 26 half-payments, which equals 13 full payments per year instead of 12.
Round up payments - Round your payment up to the nearest $50 or $100. The small extra amount adds up over time.
Apply windfalls - Use tax refunds, bonuses, or other unexpected income to make one-time payments toward principal.
Refinance if possible - If interest rates have dropped or your credit score has improved, consider refinancing to a lower rate.
Avoid skipping payments - Even if your lender offers to let you skip a payment (especially around holidays), avoid doing so as it extends your loan term.

The Auto Loan Early Payoff Calculator is a powerful yet easy-to-use financial tool designed to help car owners understand the benefits of making extra payments toward their auto loans. This calculator provides clear insights into how accelerated payments can significantly reduce total interest costs and shorten the loan term.

How to Use the Auto Loan Early Payoff Calculator

Step 1: Enter Basic Loan Information – Input your principal loan amount, interest rate, and term length
Step 2: Add Your Loan Start Date – Include when you began payments for the most accurate timeline
Step 3: Input Extra Payment Details – Choose from monthly additional amounts, one-time payments, or annual extra contributions
Step 4: Click “Calculate” – Process your information with a single click
Step 5: Review Your Savings Summary – See total interest saved and months cut from your loan term
Step 6: Examine the Interest Savings Chart – Visualize how much interest you’ll save compared to the original plan
Step 10: Export Results if Needed – Save as PDF for future reference or to share with others

Why Choose the Auto Loan Early Payoff Calculator?

Instant Financial Clarity – See exactly how much interest you’ll save and when your loan will be paid off
User-Friendly Interface – No financial expertise required; simple inputs with comprehensive results
Completely Free to Use – Access powerful financial planning tools without subscription fees
No Personal Data Required – Calculate privately without sharing sensitive financial information
Multiple Payment Scenarios – Check different strategies including monthly, annual, or one-time payments
Accurate Calculations – Trust precise financial algorithms for reliable planning