The payoff date is not correct for my Auto Loan

Bert Onstott
Bert Onstott 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
Tagged:

Answers

  • bmciance
    bmciance 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.

  • Bert Onstott
    Bert Onstott Member ✭✭✭

    I don't use reminders in Quicken.

This discussion has been closed.

Categories