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How can I figure out how much money I will save on car loan??

I'm thinking about purchasing a car with a three year loan but paying it off early. How can I figure out how much I'll save?


Asked by Anonymous at 10:07 PM on Jul. 7, 2010 in Money & Work

This question is closed.
Answers (4)
  • Go online and find a loan calculator and amortization schedule ... you just plug in the variables and it will do the calculating for you.

    Answer by FootballMom85 at 8:05 AM on Jul. 8, 2010

  • If you know how early, then you can subtract the interest that you won't have to pay.

    Answer by Erin814 at 10:08 PM on Jul. 7, 2010

  • If you are getting a new car loan, chances are you will get zero percent interest anyway. I know when we were shopping around we found websites that you can compare which offer is better like taking the zero percent or taking the cash incentive. I wouldn't count on paying it off early though since the economy is so volatile right now. Make it a bonus for saving or a vacation if you do!

    Answer by jamesonjustines at 10:32 PM on Jul. 7, 2010

  • I agree with the above statement

    Answer by mamaofficer at 10:24 PM on Jul. 7, 2010