Calculate potential savings and compare monthly payments when refinancing your auto loan.
Determine if refinancing your car loan makes financial sense by comparing current loan terms with new offers. Calculate monthly payment savings, total interest savings, and break-even analysis.
Click on any example to load it into the calculator.
Refinancing from a high-interest rate to a much lower rate for significant savings.
Current Balance: $18000
Current Rate: 12.5%
Remaining Months: 48 months
New Rate: 6.5%
New Term: 48 months
Closing Costs: $300
Extending the loan term to reduce monthly payments while accepting higher total interest.
Current Balance: $12000
Current Rate: 9%
Remaining Months: 24 months
New Rate: 7.5%
New Term: 36 months
Closing Costs: $200
Reducing the loan term to pay less total interest while maintaining similar payments.
Current Balance: $25000
Current Rate: 8%
Remaining Months: 60 months
New Rate: 5.5%
New Term: 48 months
Closing Costs: $400
Small rate reduction that may not justify refinancing costs.
Current Balance: $8000
Current Rate: 7%
Remaining Months: 36 months
New Rate: 6.5%
New Term: 36 months
Closing Costs: $250