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Payoff Amount
The payoff amount is the total amount needed to completely pay off your loan as of a specific date. It includes the remaining principal, accrued interest, and any applicable fees or charges due at the time of payoff.
What’s Included:
- Unpaid principal balance
- Accrued daily interest
- Any outstanding fees
- Possible prepayment penalties (not charged by LoanCenter)
How It’s Different from Your Loan Balance:
- The payoff amount is slightly higher because it accounts for interest accrued since your last payment
- It provides a final, settlement-ready total
We offer no prepayment penalties, so your payoff amount is purely what you owe—nothing extra. You can request a payoff quote any time via phone or online.
Whether you’re planning to refinance, sell your vehicle, or pay off early, the payoff amount gives you the exact figure needed to close your loan account.