Let's say you have $485 in savings or checking getting almost no interest. And let's say your loan is 6% int rate. Pay the loan off from savings and then continue to make the car payments to your savings. It will be like making 6% on your savings. One more suggestion. After the loan is paid and the money put back in savings, keep making the car deposits and use it to pay down credit card or other loans if any, or just accrue savings for a rainy day. Congrats on the payoff.