Should I Pay Off My Car?
Compare interest saved vs. investment gains to decide whether to pay off your car loan early.
Loan Details
Enter your current car loan information
Remaining amount owed
Your loan's APR
Months left on loan
Your current monthly payment
Investment Details
Your investment expectations
Average annual investment return (e.g., 7% for S&P 500)
💡 Tip: The S&P 500 has historically returned ~10% annually. Conservative investments like bonds return 3-5%. Adjust this rate based on your investment strategy.
Analysis
Invest Your Payments
Based on your investment returns, keeping the loan and investing the payments is the better financial choice.
Pay Off Early
Eliminate debt immediately
No more interest owed
Money kept in your pocket
Interest saved = wealth gained
Keep Loan, Invest Payments
Leverage low rates for growth
By investing $0/month
After paying interest
Key Metrics
By paying off early
By keeping the loan
Invest wins
This calculator provides estimates only and doesn't account for taxes, penalties, or behavioral factors. Past performance doesn't guarantee future returns.