Car Loan Payoff Calculator

Published on Mar 01, 2015 05:17 pm

What feels better than paying off a bill? Paying it off in less time than you expected! Paying off a loan at an accelerated rate may seem like a pie-in-the-sky dream, but it’s actually possible and it may be easier to do than you think. Even the smallest additional monthly payment made toward the principal can greatly accelerate the speed at which you pay off your loan. Pay off your loan faster and you’ll pay less interest over time, too. To start your planning, use this Car Loan Payoff Calculator to help estimate your potential time and interest savings.

Car Loan Payoff Calculator Definitions

  • Annual interest rate (APR) – The rate of interest you will pay on the loan each year.
  • Term of the loan – This represents the duration of the loan in a period of months. The term of the loan may last for several years.

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This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.
Published by permission from, Inc., an Experian company. © 2015, Inc. All rights reserved.

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