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How do I pay off my car loan quickly?

I just got a 72-month car loan because the monthly payments fit my budget. I don't want to pay extra interest, though, so I want to pay off the loan as quickly as possible. How can I pay my car loan off more quickly?

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You’ve got some personal finance sense if you’re already concerned about paying your
car loan
 off early! The good news is that you have many ways to do it. Some options include:
  • Round up on your payments
  • Make principal-only payments
  • Make multiple payments per month
  • Refinance your loan if and when it makes sense
To save more money to put toward your car loan, you may also want to shop around for a better car insurance rate. One easy way to do this is through the
Jerry
 app—we’ll get you customized quotes from different top providers so that all you need to do is choose the plan that works best for you.
Best of luck with paying off your car loan speedily!
MORE:
Should you get a 72-month car loan?
Car LoanCar OwnershipAuto Loan Payments
View full answer 
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