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Step 1
Start by choosing the date you would like to have your car payed off.
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Step 2
Calculate the amount you will need to pay every month. If it works better you can pay every two weeks out of your paycheck the day you get it. You will make two extra payments a year this way. So instead of 12 big payments you will make 26 small ones with your paycheck every two weeks.
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Step 3
Pay that amount every month with no exceptions. This is your new car payment amount. If you don't pay the full amount one month, make it up the next month and charge yourself a penalty.
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Step 4
Once your car loan is payed off start saving the same amount you were paying before to a savings account that will accumulate interest. Make the payment to the savings account every month. The next time you need to buy a car you will not be paying interest because you have saved the money ahead of time.
