Auto Refinance Calculator
Compare your current loan to a new refinance offer to see the difference in monthly payment and total interest.
Current Loan vs. New Offer
New Monthly Payment
$0
vs. current payment
Current Payment
$0
Interest Savings
$0
| Total interest – current loan | $0 |
| Total interest – new loan | $0 |
| Refinance fees | $0 |
| Net savings | $0 |
When Refinancing an Auto Loan Makes Sense
- Your credit score has improved significantly since you took out the original loan
- Market interest rates have dropped
- You want to lower your monthly payment by extending the term (note: this can increase total interest)
- You want to shorten your term to pay off the vehicle faster and save on interest
Things to Watch Out For
Extending your loan term can lower the monthly payment shown above while still increasing total interest paid — always compare the total interest figures, not just the payment. Also confirm there's no prepayment penalty on your current loan, and factor in any refinance or title transfer fees.
Want to see the full payoff breakdown on your new loan? Use the auto loan calculator for a complete amortization schedule.
Disclaimer: Estimates only. Actual refinance offers depend on your credit profile,
vehicle age/mileage, and lender underwriting.