Understanding Your Savings
In the current financial landscape, car loans are often the second-largest expense for households. By utilizing our car loan payoff calculator, you can visualize exactly how additional principal payments reduce your total interest burden. Even an extra $50 per month can shave months off your loan and save hundreds in compounding interest.
The Bi-Weekly accelerated method works by making 26 half-payments a year, which effectively totals 13 monthly payments. That extra payment goes entirely toward your principal, drastically shortening the loan life without a major impact on your monthly lifestyle.