Extra payments save real money, but nobody shows you exactly how much until it's too late to plan around it.
Seeing the exact new payoff date and dollar interest saved from an extra payment turns a vague idea into a real, motivating number.
Backed by a 30-day money-back guarantee. If it is not useful, we will refund it, no questions asked.
An extra $50 or $150 a month sounds like it should help, but without doing the math yourself, it's just a guess whether it's worth the trade-off against other financial goals.
Enter your loan balance, APR, and current payment, then add any extra amount you're considering. The sheet calculates your original payoff timeline and a new, shorter one side by side, using a real amortization formula (NPER), not a rounded estimate, so you see the exact months and dollars saved.
We built this after noticing "pay extra on your loan" is common advice with no attached number. A specific dollar figure is what actually makes the trade-off worth making.
— DaveWays
Real amortization math shows precisely when the loan would be paid off with your extra payment.
Interest Saved is calculated directly, so you can weigh it against other uses for that money.
Add several rows to test $50, $100, or $200 extra side by side before committing to one.
Does this work for any loan, not just cars?
Yes, the amortization math works for any fixed-rate installment loan; it's just labeled for car loans.
What if my rate is variable?
Use your current rate for the most accurate comparison; revisit the sheet if your rate changes.
Can I compare more than one loan?
Yes, each loan gets its own row, so you can compare payoff strategies across multiple loans at once.
Want the rest of the set? The Personal Finance Complete Bundle includes this product plus every other Personal Finance tool, for less than the price of buying them apart.
Car Loan Payoff Accelerator (Free Preview) — download a condensed version free, no purchase required, to see if it's a fit before you buy.
Car Loan Payoff Accelerator is $12.99 USD, one-time payment, instant delivery, no subscription. Covered by our 30-day money-back guarantee. See our refund policy and terms.
