Calculator
Auto Loan Payoff Calculator
If you know your current balance, your rate, and the amount you pay each month, this tool estimates how many payments are left and the interest still to come. Add an extra payment to see the time and interest it saves.
The lowest rates are only available to the most qualified applicants.
Advertising disclosure: AutoLoanable may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
Payoff time is how many monthly payments remain to bring your current balance to zero at the payment you make.
n = −ln(1 − i × B ÷ M) ÷ ln(1 + i)
- B — your current balance
- i — the monthly rate, the annual rate divided by 1,200
- M — your monthly payment, including any extra amount
Remaining interest is M × n − B. If M is no larger than the interest charged in a month, the balance never falls and the tool says so instead of inventing a payoff date. Extra money goes straight to principal, which shortens the schedule. Enter the rate and balance from your own statement.
What changes your result
Only a few inputs move the number materially. In rough order of impact:
| Input | Effect on the payment | Effect on total cost |
|---|---|---|
| Amount financed | Directly proportional | Directly proportional |
| Interest rate / APR | Directly proportional | Directly proportional |
| Term (months) | Lower payment when longer | Higher total interest when longer |
| Down payment | Lowers the payment | Lowers total interest |
| Trade-in equity | Lowers the amount financed | Lowers total interest |
| Sales tax and fees | Raises the amount financed | Raises total cost |
Enter the rate you were actually offered. This site is not a lender and does not publish rates — a quoted rate is only meaningful next to the term and the amount financed.