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Auto Refinance Calculator
Are you looking to save money on your car loan? Use the auto refinance calculator to calculate how much money you can save on interest with a lower rate or term.
Auto Refinance Calculator |
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New Monthly Payment: |
$478.11 Lower Your Monthly Auto Payments |
Payoff Date: |
Oct, 2030 |
Total Interest Savings: |
$1,017.45 |
Should I Refinance My Car Loan?
Yes, you should refinance your car loan. By refinancing, you can save a total of $1,017.45. Check out the best auto refinance rate today for more savings.
Auto Refinance Amortization Schedule |
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| Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
|---|---|---|---|---|---|---|
| Nov, 2025 | 1 | $115.63 | $362.48 | $478.11 | $24,637.52 | |
| Dec, 2025 | 2 | $113.95 | $364.16 | $478.11 | $24,273.36 | |
| Jan, 2026 | 3 | $112.26 | $365.84 | $478.11 | $23,907.52 | |
| Feb, 2026 | 4 | $110.57 | $367.53 | $478.11 | $23,539.99 | |
| Mar, 2026 | 5 | $108.87 | $369.23 | $478.11 | $23,170.75 | |
| Apr, 2026 | 6 | $107.16 | $370.94 | $478.11 | $22,799.81 | |
| May, 2026 | 7 | $105.45 | $372.66 | $478.11 | $22,427.15 | |
| Jun, 2026 | 8 | $103.73 | $374.38 | $478.11 | $22,052.77 | |
| Jul, 2026 | 9 | $101.99 | $376.11 | $478.11 | $21,676.66 | |
| Aug, 2026 | 10 | $100.25 | $377.85 | $478.11 | $21,298.81 | |
| Sep, 2026 | 11 | $98.51 | $379.60 | $478.11 | $20,919.21 | |
| Oct, 2026 | 12 | $96.75 | $381.35 | $478.11 | $20,537.85 | |
| Nov, 2026 | 13 | $94.99 | $383.12 | $478.11 | $20,154.74 | |
| Dec, 2026 | 14 | $93.22 | $384.89 | $478.11 | $19,769.84 | |
| Jan, 2027 | 15 | $91.44 | $386.67 | $478.11 | $19,383.17 | |
| Feb, 2027 | 16 | $89.65 | $388.46 | $478.11 | $18,994.72 | |
| Mar, 2027 | 17 | $87.85 | $390.26 | $478.11 | $18,604.46 | |
| Apr, 2027 | 18 | $86.05 | $392.06 | $478.11 | $18,212.40 | |
| May, 2027 | 19 | $84.23 | $393.87 | $478.11 | $17,818.53 | |
| Jun, 2027 | 20 | $82.41 | $395.70 | $478.11 | $17,422.83 | |
| Jul, 2027 | 21 | $80.58 | $397.53 | $478.11 | $17,025.30 | |
| Aug, 2027 | 22 | $78.74 | $399.36 | $478.11 | $16,625.94 | |
| Sep, 2027 | 23 | $76.89 | $401.21 | $478.11 | $16,224.73 | |
| Oct, 2027 | 24 | $75.04 | $403.07 | $478.11 | $15,821.66 | |
| Nov, 2027 | 25 | $73.18 | $404.93 | $478.11 | $15,416.73 | |
| Dec, 2027 | 26 | $71.30 | $406.80 | $478.11 | $15,009.93 | |
| Jan, 2028 | 27 | $69.42 | $408.69 | $478.11 | $14,601.24 | |
| Feb, 2028 | 28 | $67.53 | $410.58 | $478.11 | $14,190.67 | |
| Mar, 2028 | 29 | $65.63 | $412.47 | $478.11 | $13,778.19 | |
| Apr, 2028 | 30 | $63.72 | $414.38 | $478.11 | $13,363.81 | |
| May, 2028 | 31 | $61.81 | $416.30 | $478.11 | $12,947.51 | |
| Jun, 2028 | 32 | $59.88 | $418.22 | $478.11 | $12,529.29 | |
| Jul, 2028 | 33 | $57.95 | $420.16 | $478.11 | $12,109.13 | |
| Aug, 2028 | 34 | $56.00 | $422.10 | $478.11 | $11,687.03 | |
| Sep, 2028 | 35 | $54.05 | $424.05 | $478.11 | $11,262.97 | |
| Oct, 2028 | 36 | $52.09 | $426.01 | $478.11 | $10,836.96 | |
| Nov, 2028 | 37 | $50.12 | $427.99 | $478.11 | $10,408.97 | |
| Dec, 2028 | 38 | $48.14 | $429.96 | $478.11 | $9,979.01 | |
| Jan, 2029 | 39 | $46.15 | $431.95 | $478.11 | $9,547.05 | |
| Feb, 2029 | 40 | $44.16 | $433.95 | $478.11 | $9,113.10 | |
| Mar, 2029 | 41 | $42.15 | $435.96 | $478.11 | $8,677.15 | |
| Apr, 2029 | 42 | $40.13 | $437.97 | $478.11 | $8,239.17 | |
| May, 2029 | 43 | $38.11 | $440.00 | $478.11 | $7,799.17 | |
| Jun, 2029 | 44 | $36.07 | $442.04 | $478.11 | $7,357.14 | |
| Jul, 2029 | 45 | $34.03 | $444.08 | $478.11 | $6,913.06 | |
| Aug, 2029 | 46 | $31.97 | $446.13 | $478.11 | $6,466.92 | |
| Sep, 2029 | 47 | $29.91 | $448.20 | $478.11 | $6,018.73 | |
| Oct, 2029 | 48 | $27.84 | $450.27 | $478.11 | $5,568.46 | |
| Nov, 2029 | 49 | $25.75 | $452.35 | $478.11 | $5,116.10 | |
| Dec, 2029 | 50 | $23.66 | $454.44 | $478.11 | $4,661.66 | |
| Jan, 2030 | 51 | $21.56 | $456.55 | $478.11 | $4,205.11 | |
| Feb, 2030 | 52 | $19.45 | $458.66 | $478.11 | $3,746.46 | |
| Mar, 2030 | 53 | $17.33 | $460.78 | $478.11 | $3,285.68 | |
| Apr, 2030 | 54 | $15.20 | $462.91 | $478.11 | $2,822.77 | |
| May, 2030 | 55 | $13.06 | $465.05 | $478.11 | $2,357.72 | |
| Jun, 2030 | 56 | $10.90 | $467.20 | $478.11 | $1,890.52 | |
| Jul, 2030 | 57 | $8.74 | $469.36 | $478.11 | $1,421.15 | |
| Aug, 2030 | 58 | $6.57 | $471.53 | $478.11 | $949.62 | |
| Sep, 2030 | 59 | $4.39 | $473.71 | $478.11 | $475.91 | |
| Oct, 2030 | 60 | $2.20 | $475.91 | $478.11 | $0.00 | |
Why pay $100+ more every month when you could refinance in minutes?
 |
Get a lower interest rate |
|
Reduce your monthly payment |
|
Refinance your vehicle today and save. |
Original vs. Car Refinance |
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| Original | Car Refinance | |||||
|---|---|---|---|---|---|---|
| Monthly Payment | $520.00 | $478.11 | ||||
| Total Interest | $4,703.82 | $3,686.37 | ||||
| Total Principal | $25,000.00 | $25,000.00 | ||||
| Total Payment | $29,703.82 | $28,686.37 | ||||
| Total Interest Savings | $0 | $1,017.45 | ||||
| Payoff Date | Aug, 2030 | Oct, 2030 | ||||
What Is Auto Refinancing?
Auto refinancing is a process to replace your existing auto loan with a new one, usually with a different interest rate, term, and lender. The goal of auto refinancing is to save money on interest payments, lower monthly payments, or shorten your loan term.
How Auto Refinancing Works?
When you refinance, the new lender pays off your auto loan, and you establish a new car loan with the new lender with a new interest rate and term. You will make payments to the new lender moving forward until your auto loan is fully pay off. There are many good reasons to refinance your auto loan, such as saving money on interest payments, lower monthly payments, or changing loan terms.
When Should You Refinance Your Car?
Refinance your car is a smart move when the time is right, as it can potentially save you thousands of dollar in interest payments over the life of your auto loan. Here's a few cases where you should consider refinance your car loan.
1. When Interest Rates Have Dropped
One of the best time to refinance your auto loan is when the current market interest rate is lower than the interest rate for your auto loan. A 1% to 2% drop in interest rate can significally reduce your overall interest payments, and you may be able to pay off your auto loan much faster by refinancing it with a shorter term.
2. When Your Credit Score Has Improved
Borrowers with good credit scores get the best deals on interest rates for auto loans. If your credit score have improved since you first financed the vehicle, you may now be able to qualify for lower rates. Check with different lenders to see how much you can save by refinancing your car loan.
3. When You Can't Afford The Monthly Payments
If you need to to lower the monthly payments because of financial pressure, refinancing your car loan to a longer term is an option. However, keep in mind that you will end up paying more interest over time with a longer term.
Why pay $100+ more every month when you could refinance in minutes?
|
Get a lower interest rate |
|
Reduce your monthly payment |
|
Refinance your vehicle today and save. |
Pros and Cons of Refinancing a Car
Before you start applying to refinance your auto loan, you should know th pros and cons of refinancing a car.
Pros of Refinancing a Car Loan
- Lower Interest Rates - One of the main benefits for auto refinancing is reducing the interest rate and save money on your overall payments.
- Lower Monthly Payments - Refinancing to a longer loan term can reduce the size of your monthly payments. This is an option when your financial situation has changed and you need extra cash for other parts of life.
- Pay Off Auto Loan Faster - When refinancing to a short term, you can pay off your car loan faster, and save money on interest.
- Switch Lenders - If your credit score has improved since you first financed the car, you may switch lender to get better terms and rates.
Cons of Refinancing a Car Loan
- Refinance Fees - Some lenders charge fees such as application fees, title transfer fees, closing fees, and prepayment penalties on the old loan. These fees may offset the savings from refinancing.
- Longer Loan Term May Cost More - If you extend your loan with a longer term, you may end up paying more on interest than your old loan.
- Approval Isn't Guaranteed - Depending on your credit score and income, you may not qualify for refinancing. You may waste your time comparing and applying for auto refinance.
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