Enter your loan balance, rate, and months left to see your payoff plan
What is an auto loan payoff calculator?
An auto loan payoff calculator shows how quickly you can clear your car loan and how much interest you save by paying extra. Enter your current balance, interest rate, and the months left on the loan, then add an extra monthly amount or a one-time lump sum. The calculator compares your original payoff date against the accelerated one, so you see the exact months and dollars you save before you commit to a single extra payment.
Every extra dollar goes straight to principal, which shrinks the balance that interest is charged on. The earlier in the loan you start, the more you save:
For example, on a $25,000 balance at 7% with 60 months left, the regular payment is about $495/month. Adding just $100/month extra pays the loan off 11 months early and saves about $940 in interest.
Auto loans are front-loaded with interest, so the early months carry the most of it. That is why an extra payment in year one saves far more than the same payment in the final year. Before you send extra, check your loan agreement for a prepayment penalty or precomputed interest — a small number of lenders limit how much early payoff can save you.
Estimate your monthly car payment
Switch to the New Loan tab to work out the monthly payment before you sign. Enter the vehicle price, your down payment, trade-in value, sales tax, term, and rate — the calculator rolls taxes and fees into the loan and shows your monthly payment, total interest, and total cost. Once you have a loan, come back to the Payoff tab to plan how fast you can clear it. For personal and other loan types, our Loan Calculator models any extra payment scenario the same way.
How to use this calculator
Enter your current loan. On the Payoff tab, type your remaining balance, your annual interest rate, and the number of months left. The calculator derives your current monthly payment and original payoff date automatically.
Add an extra payment. Enter an extra monthly amount or a one-time lump sum. The result updates to show interest saved, months saved, and your new payoff date next to the original.
Compare and adjust. Try different extra amounts to find a payment you can sustain. Even a small recurring amount makes a visible dent, and the comparison bars show how much sooner you reach a zero balance.