$0/mo
- Current payoff time
- —
- Interest remaining
- $0
AUTO LOAN PAYOFF
Auto loan early payoff calculator
See how much faster you could pay off your car loan. Enter your balance, APR, and remaining term, then compare extra monthly payments or a one-time principal payment.
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LIVEPayoff estimate
Estimated payoff improvement—
$0/mo
- New payoff time
- 0 months
- Interest remaining
- $0
- One-time principal payment
- $0
- Estimated interest saved
- $0
Simple fixed-rate estimate. Daily interest, fees, due dates, and payment application can change the actual payoff.
Your early payoff schedule
Monthly interest is calculated on the remaining balance after any one-time payment. The final payment is reduced to the amount still owed. Estimates exclude fees and daily-interest differences.
View month-by-month principal, interest, and balance
| Month | Payment | Principal | Interest | Balance |
|---|
How early payoff saves money
Principal falls faster
Interest is charged against the remaining balance. Reducing principal sooner leaves less balance to charge later.
Instructions matter
Ask the lender how to mark an extra payment for principal so it is not merely treated as an early future payment.
Keep cash available
Do not empty an emergency fund just to accelerate a low-rate loan. Compare the benefit with other financial priorities.
Common questions
Does paying extra on a car loan save interest?
It can on a simple-interest loan when the extra payment reduces principal sooner. Ask the servicer how the payment will be applied.
Can an auto loan have a prepayment penalty?
Yes, some contracts can. Review the contract and Truth in Lending disclosures before paying extra or refinancing.
Why might my lender's payoff differ?
Many auto loans accrue interest daily. The exact payment date, outstanding fees, rounding, and contract method can change the result.
Consumer references: the Consumer Financial Protection Bureau's principal guidance and its auto-loan prepayment guidance.
What happens if I pay $100 extra on my car loan?
In this hypothetical example, you owe $20,000 at a fixed 7% annual rate with 48 equal monthly payments remaining. The regular payment is $478.92. The table applies an extra payment every month from the next payment onward, with a smaller final payment when needed.
| Extra per month | Monthly payment | Payoff months | Interest remaining |
|---|---|---|---|
| $0.00 | $478.92 | 48 | $2,988.39 |
| $50.00 | $528.92 | 43 | $2,661.40 |
| $100.00 | $578.92 | 39 | $2,400.27 |
| $200.00 | $678.92 | 33 | $2,009.13 |
Use $20,000 balance, 7% APR, 48 months, and $100 extra in the calculator above to reproduce the middle scenario. The estimates use full precision before rounding. Actual daily interest, fees, and payment dates can change the lender's result.
Use today's principal, not the original loan
If you borrowed $30,000 but now owe $20,000, enter the remaining $20,000. Use the remaining term, not the original term. This tool estimates the regular payment from those inputs unless you enter your actual monthly payment. When you enter a payment, the calculator derives the payoff time from that payment instead of the remaining-term field. It does not read your account or include arrears. Confirm the balance and scheduled principal-and-interest payment with the lender before relying on the estimate.
Can I make a lump-sum payment instead?
Enter a one-time principal payment to compare putting money toward the balance now with paying a little extra each month. The model applies that amount before the first modeled month of interest and keeps the monthly payment unchanged. This assumes your lender applies the amount to principal; it does not assume a loan recast. You can combine both types of extra payment.
Check the next statement
Ask the servicer how to direct the additional amount to principal. Then verify the posted payment allocation on your statement. Do not stop making required payments because the account shows a future due date. This calculator assumes you continue the modeled monthly payments until the balance reaches zero.
Compare a new APR separately in the loan comparison calculator. Refinancing fees and a changed loan length can offset a lower rate.
Original example calculated September 11, 2026. Calculator expanded September 15, 2026. See the formula and limitations.