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How to Pay Back Your Car Loan Faster. Make your wheels your own and save hundreds of
dollars by paying off your car loan early. You will need Focus and motivation Budget
Creativity Extra income Car maintenance and cash (optional). Step 1. Set up a budget.
Examine it carefully to find areas in your expenses where you can cut spending and use
the extra money to pay off your car loan. Step 2. Keep your basic living expenses low.
Buy food in bulk, use coupons, grow your own vegetables, bring your lunch to work, and
buy supplies at discount stores. Step 3. Get some extra income by working more hours or
a second job. Step 4. Pay an extra $20 to $25 each month; added up, this should be about
an extra payment or two each year. Step 5. Keep up with vehicle maintenance to preserve
resale value and help avoid future repair costs. Did you know Following a massive recall,
Toyota dropped its average finance charge to a historical low of 1.9 percent in 2010.