# Extra Car Loan Payments Save Little Unless the Loan Charges Simple Interest

- Source: Money Crashers
- Published: 2026-10-19T14:15:00+00:00
- Category: Markets
- Original: https://www.moneycrashers.com/car-loan-payoff-simple-interest/
- Canonical: https://groundlevelnews.com/story/extra-car-loan-payments-save-little-unless-the-loan-charges-simple-int-e9cf8f/

The gap between the two is wide. By our math, an extra $100 a month on a $30,000, 60-month simple-interest loan at 8% saves about $1,100 in interest and ends the loan 10 months early. A precomputed loan returns a... Source

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