Auto Loan Calculators
Auto Loan Payoff Calculator
See how much sooner an auto loan clears and how much interest you avoid when you pay extra each month.
Months saved
11 months
- Interest saved
- $703
- New payoff time
- 41 months
- Interest with extra payments
- $2,450
StandardWith extra
How this calculator works
Each month: interest = balance × r; the rest of the payment reduces the balance
- r
- the monthly interest rate
- extra
- any amount paid above the required payment
Important considerations
- Confirm extra payments are applied to principal, not held as a future payment.
- Some agreements charge an early settlement fee.
Related calculators
- Auto Loan CalculatorMonthly vehicle payment after deposit, trade-in, tax and fees.
- Car Affordability CalculatorThe car price a monthly budget supports.
- Auto Refinance CalculatorSavings from refinancing a car loan.
- Debt Payoff CalculatorPayoff date and interest saved from paying extra.
- Lease vs Buy CalculatorTotal cost of leasing against buying.
- Car Depreciation CalculatorVehicle value year by year.
Learn more
Terms used here
Frequently asked questions
Is paying off a car loan early always sensible?
Usually only after higher-rate debt is cleared and an emergency fund exists, since a car is a depreciating asset.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01