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Monday, October 19, 2026Updated 22:56 UTC

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Pay Off Your Car Loan Months Early – Automate Small Principal-Only Payments

Source: Money Crashers · Oct 19, 2026 17:11 UTC

Torn U.S. one-dollar bill on a white background — File photo Images_of_Money / Flickr · CC BY 2.0 · Source

The Quick Take

Take a loan like that with $25,000 left at 7% and 60 payments to go, and suppose the lender applies every extra dollar to principal. By our math, rounding the $495 payment up to $550 saves about $570 in interest... Source

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