Car Loan Early Payoff Interest Saved Calculator
Adding even a small amount to your monthly car payment can save you real money in interest and get you loan-free sooner. This calculator runs a full month-by-month amortization comparison between your original loan and one with extra payments applied.
About this calculator
See how much interest you'll save and how many months you'll shave off your auto loan by adding extra payments toward the principal.
Frequently Asked Questions
Does extra payment go entirely to principal?
Yes, this calculator assumes any extra amount you pay each month is applied directly to reducing the principal balance, which reduces future interest charges.
Will my lender apply extra payments this way automatically?
Not always. Many lenders apply extra payments to future scheduled payments by default, so you may need to specifically request that extra funds go toward principal.
What if my rate is 0% financing?
The calculator still works, it will simply show that extra payments only shorten your loan term without any interest savings since there's no interest accruing.