Car Loan Payoff Calculator

Car loans are usually 3-7 years with rates ranging from 4% to 15% depending on your credit. A few things to know:

• Car loans use simple interest — unlike credit cards, which compound daily
• Most auto loans don't have prepayment penalties, but always check
• Make sure extra payments are applied to principal, not future payments
• If you're underwater (owe more than the car is worth), paying extra helps close the gap faster

Paying off multiple debts? Use our debt payoff calculator to compare your car loan alongside credit cards and other loans.