PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
What is car loan amortization?
I want to finance a car, but I've read that I need to look at my car loan amortization. What does this mean?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Amortization is an accountant’s word for describing how your car loan gets paid off. In an amortizing loan, each payment you make goes partially toward principal and partially toward interest.
Over time, the amount of interest you pay gets less and less as the overall balance of the
car loan
decreases.An amortization schedule shows how much your interest and principal decrease over time, which is a handy thing to have if you’re interested in how much you’re actually paying over the life of the loan.
While car insurance doesn’t have an amortization schedule, it’s equally as important to have while you’re paying down your car loan. Using the
Jerry
app, you can get the best rate for your car insurance while protecting the investment you’re so diligently paying off.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies