The purpose of the Bi-weekly Payments for an Auto Loan calculator is to help users see how much money they can save on interest charges by paying off their auto loan using a bi-weekly payment schedule as opposed to the regular monthly payment schedule. To use this calculator you will need to enter the first payment date, the original loan amount, the interest rate, the length of the loan in months, and the monthly prepayment amount. This calculator will take all of this information into consideration and come up with your Bi-weekly payment amount, your bi-weekly total interest expense, your monthly payment amount, and the monthly total interest expense. It will also chart your pay-off schedule for both the bi-weekly payment schedule and for the monthly payment schedule.
Bi-weekly Payments for an Auto Loan
Bi-weekly Payments for a Car Loan Overview
Having a reliable vehicle is important. It allows you to get to your job on time and back home again, it transports your kids to and from school and activities, and it allows you to get to important destinations safely. People who live in cities that don't have adequate public transportation systems depend even more on their vehicles for getting them to and from the places that they need to go. If you need to buy a new vehicle then you may want to consider using a bi-weekly payment as opposed to the typical monthly payment option. Use our Bi-weekly Payments for an Auto Loan calculator to see why.
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