Car Refinance Calculator
Calculate potential savings when refinancing your car loan. Compare current payments with new loan terms to find the best refinancing option for your vehicle.
Step 1: Current Loan Details
Understanding Your Current Loan
Check your loan statement or lender portal for accurate current balance, interest rate, and remaining term. Accurate information ensures precise refinancing calculations.
Step 2: Refinancing Options
About Refinancing Fees
Some lenders charge application fees, origination fees, or early termination fees. Include these in your calculation to understand true savings. Many lenders offer no-fee refinancing.
Refinancing Results
Total Monthly Savings
Loan Term Comparison
| Loan Term | Monthly Payment | Total Interest | Total Savings |
|---|
Payment Breakdown
Loan Payment Formula
Monthly Payment = [P × r × (1+r)^n] ÷ [(1+r)^n – 1]
Where P is principal, r is monthly interest rate (annual rate ÷ 12), and n is number of payments. This formula calculates fixed monthly payments for amortizing loans.
Need Professional Car Refinancing Advice?
Connect with our financial experts for personalized refinancing solutions, rate comparison, and custom strategies to save money on your auto loan.
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