Auto Loan Early Payoff

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Find out how much interest you can save by increasing your monthly auto loan payment.

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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.

	$0 - $200
	$200 - $500
	$500 - $1,000
	more than $1,000

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Auto Loan Early Payoff

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