- Accelerated bi-weekly payments
- Accelerated bi-weekly payment options are calculated by taking a monthly payment schedule and assuming there are only four weeks in a month. We calculate an accelerated bi-weekly payment, for example, by taking your normal monthly payment and dividing it by two. Since you would pay 26 bi-weekly 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.
- Interest rate
- The interest rate on this auto loan.
- Auto loan term
- The number of months over which you would repay this loan if you made your normal monthly payment.
- Transaction fee
- This is a fee charged for each bi-weekly payment that is made.
- One-time setup fee
- This is a one-time fee charged for when the bi-weekly program is started.
- Bi-weekly prepayments
- If you wish to apply additional principal prepayments, enter the amount here. This is the amount bi-weekly that will be applied directly to your auto loan principal.
- Additional Services(optional)
- If you pay your insurance or real estate taxes as part of your monthly payment, include that amount here. We will apply extra impound payments directly to your principal.-
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