1. What is Auto Loan Maturity Date?

The auto loan maturity date is the date when your final loan payment is due, calculated by adding the loan term (in months) to the disbursement date. This marks the end of your loan repayment period.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Disbursement Date — The date when the loan funds were released
• Loan Term — The duration of the loan in months

Explanation: The calculator adds the specified number of months to the disbursement date to determine when the final payment will be due.

3. Importance of Maturity Date Calculation

Details: Knowing your loan maturity date helps with financial planning, understanding your repayment timeline, and preparing for the end of your loan obligations.

4. Using the Calculator

Tips: Enter the exact disbursement date and the loan term in months. The calculator will determine your final payment due date.

5. Frequently Asked Questions (FAQ)

Q1: What if my loan has a grace period?
A: This calculator shows the contractual maturity date. Any grace period would extend beyond this date.

Q2: Does this account for leap years?
A: Yes, the PHP date functions automatically account for leap years in the calculation.

Q3: What if I make extra payments?
A: This shows the original maturity date. Extra payments may shorten your actual repayment period.

Q4: Can I calculate for terms longer than 10 years?
A: The calculator accepts terms up to 120 months (10 years), which is typical for auto loans.

Q5: Is the maturity date the same as the last payment date?
A: Typically yes, though some lenders may have specific payment due dates that slightly differ.