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    • The payoff date is not correct for my Auto Loan

    Member ✭✭✭
    edited February 22 in Budgeting and Planning Tools (Windows)

    I opened an auto loan with CarMax on March 28, 2023. The terms were 48 months, 6.45% APR, an initial balance of $17,835.94, and payments of $423.70.

    I am not making any extra payments.

    The issue is that Quicken displays a payoff date of 12/28/25, which is considerably different from the correct date. I update the balance monthly, and it matches to the penny.

    Why does Quicken display the wrong Payoff Date?

    The first screen capture is from Quicken; the second is from the CarMax Finance website.

    I'm using Quicken Classic R60.20 on Windows 10.

    Quicken carmax screen capture.PNG
    carmax screen capture.PNG
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    Answers

    • Quicken Windows Subscription SuperUser ✭✭✭✭✭

      Assuming you have a reminder for your payment on the loan in Quicken, what does it say is your next due date? Is that correct? If not, you should update it. I have seen where that can get out of sync which will then give you an incorrect payoff date.

      Quicken Windows user since 1993.

    • Member ✭✭✭

      I don't use reminders in Quicken.

    This discussion has been closed.

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