Payoff Date for Auto Loan Incorrect

System

This discussion was created from comments split from: Why is the loan payoff date incorrect?.

Frankie

Hello,

I also have an issue with a payoff date. The payoff date on my auto loan is one month too soon. I would like to edit the loan and adjust the date, but I cannot determine how to do it. Can someone instruct me on changing the payoff date in Quicken 2019?

In my particular case, I had inadvertently entered a duplicate payment. When I discovered the duplicate, I deleted it. Before the deletion, the payoff date was January 17, 2020, which was incorrect - it should have been February 17, 2020. After deleting the transaction, the pay off date changed to January 10, 2020, which is also incorrect. I want to set it to February 17, 2020.

At this point, I did not see a forthcoming payment under Bills and Payments, which puzzled me for a moment. Nevertheless, I had one more outstanding payment to make, so I copied the previous payment in the check register and pasted it as the final payment, which zeroed the loan balance and adjusted the payoff date to the date of the payment in the register (February 6, 2020).

I am puzzled because Quicken showed the payoff date occurring despite the loan balance not being zero. Perhaps it's not supposed to work that way. Also, note that the payoff date was seemingly altered by the duplicate payment, but not readjusted whenever the duplicate payment was removed.

Thanks,
Fadamo

Quicken Sarah

Hello @Frankie, 

Thank you for taking the time to share your question with the Community, although I apologize that you have not yet received a response.

If you are still experiencing issues with the Auto Loan in Quicken and haven't already, please review the information and steps available here.

This information should help to adjust the loan details, but please let us know how it goes.

Thank you,

Sarah