How much can I save with biweekly payments?

Biweekly payments can save you significant money on interest and help you pay off your loan faster. The exact savings depend on your loan amount, interest rate, and term. Generally, you can save thousands of dollars and pay off your loan months or even years early.

How do biweekly payments work?

Biweekly payments mean you make 26 payments per year (every two weeks) instead of 12 monthly payments. This results in 13 full monthly payments per year, which helps you pay down the principal faster and reduces the total interest paid.

Are there any downsides to biweekly payments?

The main downside is that you need to ensure you have the funds available every two weeks. Some lenders may charge a fee for biweekly payments, so check with your lender first. Also, make sure your budget can handle the more frequent payment schedule.

Free Biweekly Payment Calculator 2025

Calculate how much you can save with biweekly car payments. See interest savings, early payoff date, and total cost reduction with our free calculator.

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Calculate Your Biweekly Payment Savings

See how much you can save by switching to biweekly payments

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Monthly vs Biweekly payment analysis

$477.53

Monthly Payment

$238.76

Biweekly Payment

Total Monthly Payments:$28,651.74

Total Biweekly Payments:$6,685.41

Interest Savings:$21,966.34

Time Saved:0 months

Savings Breakdown

Detailed analysis of your savings

$21,966.34

Total Interest Savings

Monthly Interest:$3,651.74

Biweekly Interest:-$18,314.59

Interest Saved:$21,966.34

Time Saved: 0 months early payoff

You'll make 26 payments per year instead of 12, effectively making 13 monthly payments annually.

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Frequently Asked Questions

Everything you need to know about biweekly payments