Biweekly Auto Loan with Extra Payments

Calculate savings from combining biweekly payments with extra principal payments.

  • Methods explained
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Loan Details

$
%
60 months
$

Payment Comparison

Standard Monthly

Payment$587
Interest$5,219
Payoff60

Biweekly Only

Payment$293
Interest$4,687
Payoff0

Biweekly + Extra

Payment$343
Interest$3,889
Payoff0
Total Interest Saved$1,330
Time Saved14
How it works›

Model and assumptions. Calculates the financed amount after the entered price adjustments, down payment, trade equity and fees, then projects monthly interest and principal. Extra payments reduce principal and later interest. Taxes, payoff quotes, payment dates and lender-specific charges should be entered explicitly.OpenStax: annuity formulasCFPB: auto loan guide