Loan Payoff Calculator
Estimate payoff time, total interest, and the effect of extra payments on a personal loan, auto loan, or other fixed debt.
What this calculator shows
The payoff estimate helps you see how balance, interest rate, monthly payment, and extra payment amounts change the remaining life of a loan.
Using extra payment scenarios
Try a small recurring extra payment and compare it with a larger one-time payment. Extra principal payments can reduce interest, but the effect depends on the loan terms and timing.
Important limitations
Some lenders charge prepayment penalties or apply extra payments differently. Check whether your lender applies extra money to principal, future payments, fees, or interest.
Budget guidance
A faster payoff is useful only if it does not create cash-flow stress. Keep enough money for required bills and emergency savings before committing to a higher payment.
How to use it
- Enter the current balance, interest rate, and regular monthly payment.
- Add any planned extra payment amount.
- Compare payoff time and estimated interest, then confirm rules with the lender.
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