Motorcycle Loan APR Calculator with Extra Payments
This calculator estimates scheduled payments and the effect of recurring extra payments on payoff time and total interest for a motorcycle loan. Enter the loan amount, APR, term, payment frequency and a recurring extra payment amount to see projected savings and time to payoff.
Results are estimates based on level (fixed) interest rate amortization and assume recurring extras are applied to principal at each scheduled payment date. It does not model one-time lumpsum prepayments, fees, penalties, or changes in interest rate.
Inputs
Results
Scheduled payment per period (without extras)
$195.66
Actual payment per period (scheduled + recurring extra)
$195.66
Number of payments until payoff with extra payments
60
Time to payoff with extras (years)
—
Total interest paid (scheduled plan)
—
Total interest paid (with recurring extra)
—
Interest saved by making recurring extra payments
—
Months saved vs scheduled plan
—
| Output | Value | Unit |
|---|---|---|
| Scheduled payment per period (without extras) | $195.66 | currency |
| Actual payment per period (scheduled + recurring extra) | $195.66 | currency |
| Number of payments until payoff with extra payments | 60 | integer |
| Time to payoff with extras (years) | — | years |
| Total interest paid (scheduled plan) | — | currency |
| Total interest paid (with recurring extra) | — | currency |
| Interest saved by making recurring extra payments | — | currency |
| Months saved vs scheduled plan | — | months |
Visualization
Methodology
Scheduled payment uses the standard amortizing loan formula for fixed-rate loans: payment = P * r / (1 - (1 + r)^-n), where r is the periodic interest rate and n the number of periods.
Payoff with recurring extras is calculated by solving the amortization formula for the number of payments when the payment amount increases by the extra payment. For zero interest rate loans the calculator uses a simple principal / number_of_periods fallback.
Calculations follow best-practice numeric routines; results are rounded for display. For high-accuracy or regulatory uses consult financial statements or lender disclosures. See accuracy and standards notes below.
Expert Q&A
Does this calculator compute the legal APR disclosed by a lender?
This tool uses the nominal annual rate and standard amortization math to estimate payments and interest. It does not replace the lender's Truth in Lending disclosure, which may include fees and the exact APR computation method required by law.
Can I use one-time extra payments or apply extras irregularly?
This calculator models recurring extras applied each payment period. One-time or irregular prepayments will change the amortization schedule differently and are not directly modeled here.
Why do results differ from my lender's statement?
Differences can arise from rounding rules, exact day-count conventions, fees, different compounding assumptions, or payment application order. Use lender disclosures for contract-accurate figures.
Are there any safety or regulatory considerations?
This tool is informational only. For binding figures, rely on lender contracts. It does not account for prepayment penalties or tax consequences; consult a qualified advisor.
Sources & citations
- National Institute of Standards & Technology (NIST) — https://www.nist.gov
- International Organization for Standardization (ISO) — https://www.iso.org
- Institute of Electrical and Electronics Engineers (IEEE) — https://www.ieee.org
- Occupational Safety and Health Administration (OSHA) — https://www.osha.gov
- Consumer Financial Protection Bureau - Truth in Lending — https://www.consumerfinance.gov