# Excel Car Loan Amortization Schedule with Extra Payments Template – Free Download

This is an overview:

For: Excel 2007 or later

## Excel Car Loan Amortization Schedule with Extra Payments Template

### How to Use This Template

Instructions:

• Open the template and insert your inputs in the blue shaded area.

You will get your regular payment amount.

• If you want to make extra irregular payments, enter your data in the Extra Payments (Irregular) column.

You will get an amortization schedule and an output summary. You will also get a summary chart to visualize balance trends.

Read More: Amortization Schedule Excel Template with Extra Payments

## Car Loan Amortization Schedule with Extra Payments Tips

• You have to choose interest compounding frequency as equal to or greater than regular payment frequency. Otherwise, it will return an error.
• You have to choose the extra payment frequency as a multiple of the regular payment frequency. Otherwise, the dates won’t match and an error might occur.

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Md. Tanjim Reza Tanim, a BUET graduate in Naval Architecture & Marine Engineering, contributed over one and a half years to the ExcelDemy project. As an Excel & VBA Content Developer, he authored 100+ articles and, as Team Leader, reviewed 150+ articles. Tanim, leading research, ensures top-notch content on MS Excel features, formulas, solutions, tips, and tricks. His expertise spans Microsoft Office Suites, Automating Finance Templates, VBA, Python, and Developing Excel Applications, showcasing a multifaceted commitment to the... Read Full Bio

1. Your formula above does not apply the extra payment to the balance. How would I change the formula to account for that extra payment being applied?

2. Hi MICHELLE,
Greetings and thank you for your inquiry.

To apply the above formula to the extra payment, you need to change the formula in cell H12 as follows:
=H11+G12-D12
This means (Original Balance-Principal-Extra Payment).

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