Auto Loan Refinance Calculator
Calculate how much you could save by refinancing your auto loan with our comprehensive calculator. Compare current vs. new loan terms, monthly payments, and total interest savings.
Step 1: Current Loan Details
Understanding Auto Loan Refinancing
Refinancing your auto loan can lower your interest rate, reduce monthly payments, or shorten your loan term. It’s most beneficial when interest rates have dropped or your credit score has improved since your original loan.
Step 2: Refinance Options
About Refinancing Fees
Some lenders charge fees for refinancing, which can include application fees, title transfer fees, or early termination fees from your current lender. Make sure to factor these into your savings calculation.
Refinance Savings Results
Estimated Total Savings
Loan Term Comparison
| Loan Term | Monthly Payment | Total Interest | Total Savings |
|---|
Savings Breakdown
Auto Loan Refinance Formula
Monthly Payment = [P × (r(1+r)^n)] / [(1+r)^n – 1]
Where P = loan principal, r = monthly interest rate (annual rate ÷ 12), n = number of payments. Savings = (Current total payments) – (New total payments + fees).
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