Auto Loan Payoff Calculator

About this calculator

An auto loan amortizes like any installment loan: each payment covers that period's interest first, with the remainder reducing principal. Adding extra payments — applied directly to principal — shrinks the balance faster than the schedule assumes, which means every future payment carries less interest, compounding the savings over the life of the loan.

This calculator takes your loan balance, interest rate, and regular payment, plus an extra payment amount, and shows how much sooner you'd pay off the car and how much total interest you'd save compared to sticking with the minimum schedule. It's the calculation borrowers use to decide whether directing spare cash toward the car loan is worth it before committing to it as a habit.