Biweekly Payments for an Auto Loan with Fees Calculator

This calculator shows you possible savings by using an accelerated biweekly auto loan payment. Biweekly payments accelerate your auto loan payoff by paying 1/2 of your normal monthly payment every two weeks. By the end of each year, you will have paid the equivalent of 13 monthly payments instead of 12. This simple technique can shave years off your auto loan and save you hundreds to thousands of dollars in interest.

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For more information about these financial calculators please visit: Financial Calculators from KJE Computer Solutions, Inc.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

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*indicates required.

Auto Loan Inputs:

Auto loan amount:*This entry is required.Enter an amount between $0 and $9,999,999

Interest rate:*This entry is required.Enter an amount between 0% and 24%

Loan term in months:*This entry is required.Enter an amount between 12 and 360

Bi-weekly prepayment:*This entry is required.Enter an amount between $0.00 and $10,000.00

One-time setup fee:*This entry is required.Enter an amount between $0.00 and $10,000.00

Additional Services (optional):*This entry is required.Enter an amount between $0.00 and $10,000.00

Transaction fee:*This entry is required.Enter an amount between $0.00 and $10.00

Bi-weekly payment:

Monthly payment:

**FIG_GRAPHTITLE** Line Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Accelerated repayments payoff loan in KJE1.

Definitions

Accelerated biweekly payments

Accelerated biweekly payment options are calculated by taking a monthly payment schedule and assuming there are only four weeks in a month. The tool calculates an accelerated biweekly payment, for example, by taking your normal monthly payment and dividing it by two. Since you would pay 26 biweekly payments, by the end of a year you would have paid the equivalent of one extra monthly payment. This additional amount accelerates your loan payoff by going directly against your loan's principal. The effect can save you hundreds to thousands of dollars in interest and take years off of your auto loan.

Auto loan amount

The total dollar amount for this auto loan.

Auto loan term

The number of months over which you would repay this loan if you made your normal monthly payment.

Interest rate

The interest rate on this auto loan.

One-time setup fee

This is a one-time fee charged for when the biweekly program is started.

Transaction fee

This is a fee charged for each biweekly payment that is made.

Biweekly prepayments

If you wish to apply additional principal prepayments, enter the amount here. This is the amount biweekly that will be applied directly to your auto loan principal.

Additional Services (optional)

If you pay insurance or any fees as part of your monthly payment, include that amount here. The tool will apply extra impound payments directly to your principal.

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.