Auto Loan Refinancing Calculator: View Your Savings

Auto Loan Refinance Calculator: Estimate Your Payment and Savings

See what a lower rate could do for your payment

Fill in your loan, then drag the rate. Nothing you enter is saved or sent.

Your current loan

Loan balance in dollars Current APR in percent Months left on the loan

If my APR were 10.0% APR

New loan term

Same term +12 months +24 months

$64less each month*

$768less each year*

$3,814less interest over the loan*

Start your application

* Illustration only, based on the numbers you enter and the same loan term. This is not an offer, a rate quote, or a credit decision. Nothing you enter here is saved or sent.

Disclosures

*Estimated savings are based on the information available at the time of inquiry and current market rates. Your potential savings will depend on your credit profile, vehicle value, current loan terms, and the rate offered by the new lender. Past performance does not guarantee future results. RefiJet does not guarantee any specific savings amount.

Annual Percentage Rate (APR) is the cost of credit expressed as a yearly rate. Final APR is calculated based on the lender’s final terms. This is based on your credit profile, loan amount, term, and vehicle information. Rates and terms are subject to change and may vary by lender. Not all applicants will qualify for the lowest rate advertised.

How to Use the Auto Refinance Calculator

Use the calculator to explore how a different APR or loan term could change your car payment. The results are estimates, not a rate quote or loan offer. New to the process? Learn how auto refinancing works before comparing your options.

1. Enter your current loan details

Add the amount you still owe, your current APR, and the number of months left on your loan. The calculator will estimate your current monthly payment from those numbers.

2. Explore a different rate and term

Next, compare your current loan to the rates and terms of a new loan. What would a loan with a lower rate look like? How about a loan with repayment terms of 60, 72 or 84 months?

See what your new monthly payment could be and how much you might save.

3. Start an application if you’re ready

If a scenario looks promising, start your application to explore your refinancing options with RefiJet.

The rate you enter in the auto loan refinance calculator is hypothetical; any loan terms available to you will depend on your application and the lender’s review.

Understanding Your Calculator Results

Look at the monthly payment

Compare your estimated payment today with the payment shown for the APR and term that you've selected. The difference in the monthly payment can help you to see if a different loan might be a better fit for your budget.

If you're extending the term by 12 or 24 months, be sure to also check the total interest figure, as a lower monthly payment doesn't necessarily equate to a lower total cost.

Check the first-payment breakdown

The bars show how much of the next payment would go to your loan balance and how much would go to interest in each scenario.

As you pay off your loan the balance will obviously change. The bars are just a snapshot of that at a particular point in time, not a full breakdown of each payment you'll make.

Compare total interest

The total interest difference is the estimated total interest you'd pay over the remainder of the life of each loan, based on the balance, APR, and term as entered into the calculator.

Play around with a few different scenarios to see the trade-off between a manageable monthly payment and total borrowing cost. These are just illustrative figures and don't account for all the costs that may be associated with a refinance.

If a scenario looks viable, you can go ahead and start an application with RefiJet to find out what options may be available to you.

Next Steps

See how refinancing works

Get the full picture: the steps, what to expect, and how RefiJet helps you compare offers.
Explore auto loan refinancing
Know what you'll need

Review the eligibility requirements and the documents to have ready before you apply.
Check requirements and FAQs
Ready to move forward?

Start your application online and we'll help you compare offers from multiple lenders.
Start your application

Not sure the timing is right? Read when it makes sense to refinance.

Helpful Resources

Frequently Asked Questions

What information is required for an auto loan refinance calculator?

The most important info you’ll need to use our auto refinance calculator is your current interest rate, loan amount, monthly payment and time remaining on your car loan. Some calculators will also ask for your credit score and the rate on a new loan for comparison.

How long does the refinancing process take?

It depends on the lender, but refinancing an auto loan usually takes between 15 and 30 days. Some lenders may need up to 45 days to verify your financial information and approve you for the refinance.

Are there any additional fees or penalties for refinancing my car loan?

It’s very important to check whether your current loan has a prepayment penalty, but this is uncommon. Also check whether your new lender has any application or origination fees, which adds to your refinancing costs.

What other factors may impact the estimated savings I am being shown?

Remember that an auto loan refinance calculator shows you an estimate of your savings — it’s not set in stone. Your credit score, the car’s value, refinance fees and other charges, and even current economic conditions could all affect how much you’ll actually save.

Learn More

The Credit Impact of Refinancing Your Car Loan

If you recently purchased a car, you may wonder how quickly you can refinance your loan. While you can refinance as soon as you find a lender that will approve your loan, factors such as paperwork processing times or your title transfer may affect the timing.

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