Free calculator

Auto Loan Payoff Calculator

See how quickly you can pay off your car loan and how much interest you save with extra payments. Enter your balance, rate, and payment to get a projected payoff date.

No account needed to calculate — you can save your plan at the end.

1 of 4 steps done

  1. Enter your debts — done
  2. Set your budget
  3. Choose a strategy
  4. See your result

Your Debts

Monthly Budget

Take-home pay$5,000.00
− Essentials−$2,600.00
− Minimum payments−$405.00
Available for extra$1,995.00
$100.00 / mo extra
$0$1,995.00

Payoff Strategy

Snowball builds momentum: pay off the smallest debt first to stay motivated.

Your projected result — based on the 2 debts in this plan.
Change any number and it updates instantly.

Debt-Free In
3y 5m
Est. February 2030
Total Interest
$2,368.73
vs Minimums
−$633.84
Monthly Pmt
$505.00

Free account - track real payoff progress

Payoff chart and coach read

Compares your selected plan against paying minimums only.

Coach Keep

Snowball is buying back 11 months

Evidence: The selected plan reaches zero in 3y 5m vs 4y 4m with minimums only.

Action: Keep $100.00/mo pointed at the focus debt.

Starting balance

$18,000.00

All active debts combined

Snowball payoff

3y 5m

Feb 2030

Plan paydown

$18,000.00

$100.00/mo acceleration

Minimums only

4y 4m

Scenario benchmark

Snowball plan

Projected balance if you follow the current strategy.

Minimums only

What happens if you stop at required payments.

Payoff Order

1Personal Car Loan
Month 18 · $144.74 interest
2Car Loan
Month 41 · $2,223.98 interest
Ready to turn this result into a monthly plan?

Create a free account to track payments, log your actual balance each month, and see how every payment changes the forecast.

How it works

How to use this auto loan payoff calculator

How auto loan interest is calculated

Auto loans use simple interest that accrues daily on the outstanding principal. Each monthly payment covers the interest that has accrued since the last payment, with the remainder reducing the principal. Extra payments reduce the principal immediately, which lowers every subsequent interest charge.

Why paying extra early matters most

Because interest accrues on the remaining balance, early extra payments save more than the same amount paid later. Adding even $50 to the first year of a 60-month loan can shave two to three months off the total term.

Negative equity and payoff order

If you owe more than your car is worth, you are carrying negative equity. Paying off the loan faster eliminates this gap sooner and reduces the insurance risk of a total loss. If you have credit card debt at a higher rate, this calculator can also model which debt to attack first.

Refinancing your auto loan

If rates have dropped or your credit has improved since you bought the car, refinancing can lower your rate and reduce total interest. Enter the new rate here to see the before-and-after comparison on payoff date and total cost.

Snowball vs avalanche for auto loans

Auto loans usually carry a lower rate than credit cards, so if you have both types of debt, avalanche would direct extra payments to credit cards first. Use this calculator alongside the credit card payoff calculator to see the full picture.

Ready to track real progress?

Save your plan, log payments monthly, and watch your debt-free date get closer. Free account — no card required.

Create Free Account →

Common questions

Frequently asked questions

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