How to figure interest

[LittleCat]

Hi All-I got to thinking after seeing someones post about paying off a car with a 0% interest credit card, then paying the CC off within the 0% time frame and didnt want to hijack, so heres my question:

I have $5700 left on my car note at 6.9%, payments are $359 and I get BT offers all the time with 3% transfer fees and 14-18 monthes interest free. How do I figure out how much interest I have left on the loan at 6.9% to know if BT'ing it would be a smart move $$$ wise? I just got a promotion at work and will be able to pay $450 a month either way, just want to save some money if possible.

[Dustink]

Just google something like "auto loan calculator".

[coterotie]

Do you have excel?  If so, you can do an amortization schedule which will tell you how much interest you will pay each month.  I'm on my Mac or I would just give you the formula.

[sccredit]

# of payments owed x payment amount - principal amount owed

[Hoya08]

Even though the BT has a 3% fee, most balance transfer fees are are capped not to exceed XX dollars per transfer; so read the fine print since you may potentially save a bit.  For instance, the fee structure for one of my card is a minimum of $10 or 3%, not exceeding $75.