PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
How quickly can I pay off my car loan?
I’ve been paying off a 72-month car loan, but my monthly payments are pretty low. I want to pay off the loan sooner than scheduled, but how quickly can I pay off my car loan?
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
That’s great you want to pay off your
car loan
quickly, but you can only pay off a car loan as quickly as the lender allows. Policies differ by lender. Some make paying off the loan quickly a simple process, while others may not allow it or could have
prepayment penalties
. To find out how quickly you can pay off your car loan, you need to contact your lender and ask what their policy is. Alternatively, if your lender won’t modify the loan or allow you to pay it off more quickly, you may want to consider refinancing the loan for higher monthly payments and a lower loan term. To find the best rate and agreement, you should shop around and compare offers from multiple lenders, such as:
- Local and national banks
- Credit unions
- Online lenders
If you’d like help with refinancing, start your search with the
Jerry
app. You can compare quotes from multiple lenders without worrying about your credit history. Avoid the hassle of researching and sending documents to potential lenders. Jerry instantly connects you with top companies to find a loan that best meets your needs. MORE: Does refinancing a car hurt your credit score?
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
.webp&w=384&q=75)
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
