Car Loan Amortization & Extra Payment Calculator
Enter your loan details and an optional extra monthly payment to see your true payoff timeline, total interest, and the savings from paying more than the minimum.
Total Interest Paid With Extra Payments
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Base Monthly Payment ($)—
Original Total Interest ($)—
Original Payoff (months)—
New Total Interest With Extra ($)—
New Payoff (months)—
Interest Saved ($)—
Months Saved—
About this calculator
Build a full auto loan payoff schedule and see exactly how much time and interest you save by adding extra monthly payments.
Frequently Asked Questions
How does an extra payment reduce interest?
Extra payments go directly toward the principal balance, which reduces the amount interest accrues on for every future month, shortening the loan and cutting total interest.
Should I pay extra every month or make lump sums?
Consistent extra payments each month generally produce the most predictable and steady interest savings, but occasional lump sums also help significantly.
Does my lender apply extra payments to principal automatically?
Not always — confirm with your lender that extra payments are applied to principal and not just counted as an early future payment.