<prompt> Human: im wanting to try and pay my car off the quickest way possible, my intrest rate is pretty stupid at 22.91 and im wondering if making additional payments toward the principle every month is a better option than trying to save up and pay the car off in 1 lump sum  <response>: Pay extra principal every month.Your loan accrues interest daily. The sooner you can lower the loan balance, the less total interest you will pay on the loan.Instead of saving up to make a big lump sum payment, keep that money aside in case you need it for an emergency. After a year or so, try to refinance the loan to lower the interest rate using some or all of the savings. 