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The time it takes to pay off your loan with extra payments depends on the amount of the extra payments and the interest rate of the loan. Generally, making extra payments can help you pay off your loan faster and save money on interest.

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AnswerBot

5mo ago

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Related Questions

How long will it take to pay off my loan if I pay extra?

The time it takes to pay off your loan will be shorter if you make extra payments.


How long does it take to pay a 60000 student loan?

depends on monthly payments and the current interest rates


Can a cosigner take over a car loan if the primary borrower is unable to make payments?

Yes, a cosigner can take over a car loan if the primary borrower is unable to make payments. This means the cosigner becomes responsible for making the payments on the loan.


If you bought a car and the title and loan are in your name but you allowed a friend to take over and now the friend has stopped making payments can you take the vehicle back?

As long as the title and loan are in your name the car is yours. Any payments missed will effect your credit. Take the vehicle back, now.


extra home loan repayment calculator?

Take control of your mortgage with our extra home loan repayment calculator. Easily estimate savings by making additional payments towards your home loan. Plan ahead and accelerate your journey to debt-free homeownership with our intuitive tool. Start exploring smarter financial strategies today.


What is the purpose of a student loan calculator?

A student loan calculator's purpose is to estimate the size of your monthly payments when you get a student loan. It will also help you find out how much you will end up paying in interest and how long it will take to completely repay the loan.


Can a cosigner take over a car loan?

Yes, a cosigner can take over a car loan if the primary borrower is unable to make payments. The cosigner would become responsible for the loan and would need to make payments to avoid default.


How does one establish their own credit?

Take out a loan, make the payments.


How do you sell your car and have someone take over payments?

For someone to take over the payments they must essentially get a new loan for the payoff amount in their name. This new loan will pay off your loan and will make thir payoff amount higher than yours.


Can you take out a loan using my structured settlement?

The answer is Yes. You may obtain a low interest loan for your structured settlement. You also have the option of selling partial payments or full payments.


If you can't make the payments on your 2004 SUV what can you do?

Renegotiate the loan with the lender. Sell the car to someone else or have them take over the payments. The very last thing you want to do is default on the loan.


You have a car loan can another person take over the payments?

If the loan company approves. If the loan company does not approve and transfer the loan you would still be legally responsible for the debt.