Auto Refinance Calculator
Calculate potential savings from refinancing your auto loan. Compare current loan terms with new rates to see how much you could save monthly and overall.
Step 1: Current Loan Details
Understanding Your Current Loan
Your current interest rate and remaining term determine your monthly payments. Higher rates and shorter terms result in higher monthly payments but less total interest paid over time.
Step 2: Refinance Options
About Refinancing
Refinancing can lower your monthly payment, reduce total interest paid, or shorten your loan term. Consider refinancing fees and how they affect your overall savings.
Refinance Savings Results
Estimated Monthly Savings
Auto Loan Comparison
| Lender Type | Interest Rate | Monthly Payment | Total Interest | Total Cost |
|---|
Payment Breakdown Analysis
Auto Loan Payment Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n – 1]
Where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12), n = total number of payments (loan term in months).
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