Auto Loan Payoff Calculator
Loan Summary
Payment Schedule
| Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 8/4/2025 | $477.53100 | $462.95 | $114.58 | $24537.05 |
| 9/4/2025 | $477.53100 | $465.07 | $112.46 | $24071.98 |
| 10/4/2025 | $477.53100 | $467.20 | $110.33 | $23604.78 |
| 11/4/2025 | $477.53100 | $469.34 | $108.19 | $23135.44 |
| 12/4/2025 | $477.53100 | $471.49 | $106.04 | $22663.95 |
| 1/4/2026 | $477.53100 | $473.65 | $103.88 | $22190.30 |
| 2/4/2026 | $477.53100 | $475.82 | $101.71 | $21714.47 |
| 3/4/2026 | $477.53100 | $478.01 | $99.52 | $21236.47 |
| 4/4/2026 | $477.53100 | $480.20 | $97.33 | $20756.27 |
| 5/4/2026 | $477.53100 | $482.40 | $95.13 | $20273.87 |
| 6/4/2026 | $477.53100 | $484.61 | $92.92 | $19789.27 |
| 7/4/2026 | $477.53100 | $486.83 | $90.70 | $19302.44 |
| 8/4/2026 | $477.53100 | $489.06 | $88.47 | $18813.38 |
| 9/4/2026 | $477.53100 | $491.30 | $86.23 | $18322.07 |
| 10/4/2026 | $477.53100 | $493.55 | $83.98 | $17828.52 |
| 11/4/2026 | $477.53100 | $495.82 | $81.71 | $17332.70 |
| 12/4/2026 | $477.53100 | $498.09 | $79.44 | $16834.62 |
| 1/4/2027 | $477.53100 | $500.37 | $77.16 | $16334.24 |
| 2/4/2027 | $477.53100 | $502.66 | $74.87 | $15831.58 |
| 3/4/2027 | $477.53100 | $504.97 | $72.56 | $15326.61 |
| 4/4/2027 | $477.53100 | $507.28 | $70.25 | $14819.33 |
| 5/4/2027 | $477.53100 | $509.61 | $67.92 | $14309.72 |
| 6/4/2027 | $477.53100 | $511.94 | $65.59 | $13797.78 |
| 7/4/2027 | $477.53100 | $514.29 | $63.24 | $13283.49 |
| 8/4/2027 | $477.53100 | $516.65 | $60.88 | $12766.84 |
| 9/4/2027 | $477.53100 | $519.02 | $58.51 | $12247.82 |
| 10/4/2027 | $477.53100 | $521.39 | $56.14 | $11726.43 |
| 11/4/2027 | $477.53100 | $523.78 | $53.75 | $11202.65 |
| 12/4/2027 | $477.53100 | $526.18 | $51.35 | $10676.46 |
| 1/4/2028 | $477.53100 | $528.60 | $48.93 | $10147.86 |
| 2/4/2028 | $477.53100 | $531.02 | $46.51 | $9616.85 |
| 3/4/2028 | $477.53100 | $533.45 | $44.08 | $9083.39 |
| 4/4/2028 | $477.53100 | $535.90 | $41.63 | $8547.50 |
| 5/4/2028 | $477.53100 | $538.35 | $39.18 | $8009.14 |
| 6/4/2028 | $477.53100 | $540.82 | $36.71 | $7468.32 |
| 7/4/2028 | $477.53100 | $543.30 | $34.23 | $6925.02 |
| 8/4/2028 | $477.53100 | $545.79 | $31.74 | $6379.23 |
| 9/4/2028 | $477.53100 | $548.29 | $29.24 | $5830.94 |
| 10/4/2028 | $477.53100 | $550.80 | $26.73 | $5280.13 |
| 11/4/2028 | $477.53100 | $553.33 | $24.20 | $4726.80 |
| 12/4/2028 | $477.53100 | $555.87 | $21.66 | $4170.94 |
| 1/4/2029 | $477.53100 | $558.41 | $19.12 | $3612.52 |
| 2/4/2029 | $477.53100 | $560.97 | $16.56 | $3051.55 |
| 3/4/2029 | $477.53100 | $563.54 | $13.99 | $2488.01 |
| 4/4/2029 | $477.53100 | $566.13 | $11.40 | $1921.88 |
| 5/4/2029 | $477.53100 | $568.72 | $8.81 | $1353.16 |
| 6/4/2029 | $477.53100 | $571.33 | $6.20 | $781.83 |
| 7/4/2029 | $477.53100 | $573.95 | $3.58 | $207.89 |
| 8/4/2029 | $308.83859054665277 | $307.89 | $0.95 | $0.00 |
Calculate your auto loan payoff timeline with extra payments. This tool shows interest savings, amortization schedules, and helps you create a strategic debt repayment plan.
What Is It?
A digital calculator that:
- Projects loan payoff dates with/without extra payments
- Visualizes payment allocation (principal vs interest)
- Compares standard vs accelerated payoff scenarios
- Generates printable amortization schedules
- Estimates total interest savings
Key Formulas
Monthly Payment Calculation
M = P [ r(1+r)^n ] / [ (1+r)^n - 1 ]Where:
M= Monthly paymentP= Principal loan amountr= Monthly interest rate (annual rate ÷ 12)n= Number of payments (term in months)Early Payoff Savings
Total Savings = (Original Term × Standard Payment) - (Accelerated Term × (Standard Payment + Extra))
How to Use
Basic Calculation
- Enter loan amount, interest rate, and term
- View standard monthly payment
- See total interest cost over full term
Accelerated Payoff
- Add optional extra monthly payment
- Compare payoff timelines
- View interest savings visualization
Advanced Features
- Adjust start date for precise scheduling
- Export payment schedule as CSV
- Print full amortization table
FAQs
Q: How often should I recalculate my payoff plan?
A: Whenever you adjust payments, refinance, or receive bonuses/windfalls that could be applied to principal.
Q: Do extra payments always go toward principal?
A: Yes, when specified as “principal-only” payments. Verify with your lender for their payment application rules.
Q: Why does my lender’s payoff quote differ?
A: This tool doesn’t account for daily interest accrual or potential prepayment fees - always confirm with your lender.
Terminology
| Term | Definition |
|---|---|
| Amortization | Gradual repayment of loan through scheduled payments |
| Principal | Original loan amount before interest |
| APR | Annual Percentage Rate (includes fees) |
| Negative Amortization | When payments don’t cover accrued interest |
| Refinancing | Replacing existing loan with new terms |
Pro Tips
- Even $25 extra/month can save thousands in interest
- Target highest-interest loans first (debt avalanche method)
- Consider biweekly payments (26 half-payments = 13 full payments/year)
- Verify prepayment penalties before accelerating payoff