Prepaying your loan will not change your current monthly payment, but it will reduce the principal balance faster, ultimately shortening your loan term and reducing the total interest paid.

Yes, the Auto-Prepay Calculator lets you input different prepayment amounts to show how they impact your loan term and interest savings. You can experiment with different amounts to see what works best for your budget.

Some lenders charge prepayment penalties, while others do not. It’s important to check your loan agreement or consult your lender to confirm if any penalties apply before making extra payments.

The Auto-Prepay Calculator is typically designed for auto loans but can also be used for other types of loans with fixed interest rates, such as personal or home loans. Always check the terms of your specific loan before using the calculator.