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Car early pay off calculator

Save interest and time

Increasing your monthly payment can save you money in interest and shorten the term of your loan. This early payment calculator helps you determine both, depending on the amount you add each month. Click "view the report" to see a complete amortization payment schedule.

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For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions

Annual interest rate: Annual interest rate. Maximum interest rate is 20%.
Loan length (months): Total length, or term, of your original auto loan in months.
Original loan amount: The original amount financed with your auto loan, not to be confused with the remaining balance or principal balance.
Additional monthly payment: Your proposed extra payment per month. This payment will be used to reduce your principal balance.
Monthly scheduled payment: Monthly principal and interest payment based on your original loan amount, term and interest rate.
Monthly accelerated payment: Scheduled payment plus additional monthly payment.
Total savings: Total amount you would save in interest if you made the accelerated payment until your loan was paid in full.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regard to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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product:

48 Mo New Car average
2.45%

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Auto Averages

Product	Rate	+/-	Last week
48 month used car loan	2.92%		2.93%
48 month new car loan	2.45%		2.45%
36 month used car loan	2.88%		2.88%
36 month new car loan	2.29%		2.30%

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