Car loan payoff calculator with extra payments
See how extra repayments change a fixed-rate car loan’s duration and interest. The first calculator excludes fees; the comparison below lets you deduct your quoted fees from the saving.
Input values
Values are processed in your browser, without sending them to a calculation service or saving them. Reloading clears the form.
Scope and limits
The first calculator excludes fees; the fee comparison below deducts the additional amount you enter. Both use fixed rates and regular monthly periods, excluding daily or precomputed interest, insurance and balloon payments. Confirm how your lender applies extra repayments and obtain a settlement quote. Currency selection does not convert amounts.
How to use the result
Use the current principal balance, not the original purchase price. Enter the contractual nominal rate, not an APR that includes fees. Keep every amount in the same currency. Set both extra payments to zero to reproduce the baseline.
Method and assumptions
Each month, interest = remaining principal × annual nominal rate ÷ 1200. The payment covers interest first, then principal. Interest is rounded to cents monthly and the final payment is reduced to clear the balance. The immediate payment happens before the first modelled month.
Worked example
Input values
- Outstanding principal
- 10000
- Annual nominal interest rate (%)
- 6
- Current monthly payment
- 300
- Additional monthly payment
- 50
- Immediate principal payment
- 0
- Currency for all amounts
- EUR
Result of this example
- Months without extra payments
- 37
- Months with extra payments
- 31
- Months saved
- 6
- Interest without extra payments
- €966.79
- Interest with extra payments
- €817.55
- Estimated interest saved
- €149.24
- Total paid without extra payments
- €10,966.79
- Total paid including immediate and extra payments
- €10,817.55
Check whether fees erase the interest saving
Enter the extra fees quoted in your own contract or settlement statement. They are paid separately in this model, not added to the loan balance. Use one currency for every amount. A negative net saving means the fee is larger than the interest saved.
Your entries stay in this browser tab. Nothing is sent to Osmopark.
Worked example and its assumptions
- Outstanding principal
10000
- Nominal annual interest (%)
6
- Regular monthly payment
300
- Extra monthly principal
50
- Immediate principal repayment
0
- Total additional contractual fees
100
| Extra monthly principal | Remaining months | Interest in this scenario | Total additional contractual fees | Net saving against regular payments | Total |
|---|---|---|---|---|---|
| 50 | 31 | 817.55 | 100 | 49.24 | 10,917.55 |
Fixed nominal rate, monthly interest rounded to cents, payment at month end and no insurance or balloon payment. Compare with the lender’s settlement quote if your contract uses daily or precomputed interest.
Sources and scope checked on 31 October 2026: CFPB
Compare several extra-payment budgets
Try up to five monthly additions against the same balance and regular payment. This isolates what a larger monthly effort changes. The fee entered applies to each scenario; change it if the contract makes fees depend on the repayment amount.
Your entries stay in this browser tab. Nothing is sent to Osmopark.
Worked example and its assumptions
- Outstanding principal
10000
- Nominal annual interest (%)
6
- Regular monthly payment
300
- Extra payments, separated by ; (max 5)
0;25;50;100
- Total additional contractual fees
0
| Extra monthly principal | Remaining months | Interest in this scenario | Total additional contractual fees | Net saving against regular payments | Total |
|---|---|---|---|---|---|
| 0 | 37 | 966.79 | 0 | 0 | 10,966.79 |
| 25 | 34 | 885.86 | 0 | 80.93 | 10,885.86 |
| 50 | 31 | 817.55 | 0 | 149.24 | 10,817.55 |
| 100 | 27 | 709.35 | 0 | 257.44 | 10,709.35 |
This comparison starts today and includes no immediate lump sum. The result is a mathematical scenario, not a recommendation to reduce your emergency savings.
Sources and scope checked on 31 October 2026: CFPB
Sources and review
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