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Refinance Car Loan Calculator to calculate the costs and savings to refinancing your auto loan with a lower interest rate.
Auto Refinance Calculator Results |
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New Monthly Payment: |
$540.04 | |||||
Payoff Date: |
Nov, 2027 | |||||
Closing Cost: |
$200.00 | |||||
Other Expenses: |
$0.00 | |||||
Interest Savings: |
$1,141.53 | |||||
Total Savings: |
$941.53 | |||||
Auto Refinance Amortization Schedule |
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Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
---|---|---|---|---|---|---|
Dec, 2024 | 1 | $50.10 | $489.94 | $540.04 | $18,010.06 | |
Jan, 2025 | 2 | $48.78 | $491.27 | $540.04 | $17,518.80 | |
Feb, 2025 | 3 | $47.45 | $492.60 | $540.04 | $17,026.20 | |
Mar, 2025 | 4 | $46.11 | $493.93 | $540.04 | $16,532.27 | |
Apr, 2025 | 5 | $44.77 | $495.27 | $540.04 | $16,037.00 | |
May, 2025 | 6 | $43.43 | $496.61 | $540.04 | $15,540.39 | |
Jun, 2025 | 7 | $42.09 | $497.95 | $540.04 | $15,042.44 | |
Jul, 2025 | 8 | $40.74 | $499.30 | $540.04 | $14,543.13 | |
Aug, 2025 | 9 | $39.39 | $500.66 | $540.04 | $14,042.48 | |
Sep, 2025 | 10 | $38.03 | $502.01 | $540.04 | $13,540.47 | |
Oct, 2025 | 11 | $36.67 | $503.37 | $540.04 | $13,037.10 | |
Nov, 2025 | 12 | $35.31 | $504.73 | $540.04 | $12,532.36 | |
Dec, 2025 | 13 | $33.94 | $506.10 | $540.04 | $12,026.26 | |
Jan, 2026 | 14 | $32.57 | $507.47 | $540.04 | $11,518.79 | |
Feb, 2026 | 15 | $31.20 | $508.85 | $540.04 | $11,009.94 | |
Mar, 2026 | 16 | $29.82 | $510.22 | $540.04 | $10,499.72 | |
Apr, 2026 | 17 | $28.44 | $511.61 | $540.04 | $9,988.11 | |
May, 2026 | 18 | $27.05 | $512.99 | $540.04 | $9,475.12 | |
Jun, 2026 | 19 | $25.66 | $514.38 | $540.04 | $8,960.74 | |
Jul, 2026 | 20 | $24.27 | $515.77 | $540.04 | $8,444.96 | |
Aug, 2026 | 21 | $22.87 | $517.17 | $540.04 | $7,927.79 | |
Sep, 2026 | 22 | $21.47 | $518.57 | $540.04 | $7,409.22 | |
Oct, 2026 | 23 | $20.07 | $519.98 | $540.04 | $6,889.24 | |
Nov, 2026 | 24 | $18.66 | $521.38 | $540.04 | $6,367.86 | |
Dec, 2026 | 25 | $17.25 | $522.80 | $540.04 | $5,845.06 | |
Jan, 2027 | 26 | $15.83 | $524.21 | $540.04 | $5,320.85 | |
Feb, 2027 | 27 | $14.41 | $525.63 | $540.04 | $4,795.22 | |
Mar, 2027 | 28 | $12.99 | $527.06 | $540.04 | $4,268.16 | |
Apr, 2027 | 29 | $11.56 | $528.48 | $540.04 | $3,739.68 | |
May, 2027 | 30 | $10.13 | $529.91 | $540.04 | $3,209.76 | |
Jun, 2027 | 31 | $8.69 | $531.35 | $540.04 | $2,678.41 | |
Jul, 2027 | 32 | $7.25 | $532.79 | $540.04 | $2,145.62 | |
Aug, 2027 | 33 | $5.81 | $534.23 | $540.04 | $1,611.39 | |
Sep, 2027 | 34 | $4.36 | $535.68 | $540.04 | $1,075.71 | |
Oct, 2027 | 35 | $2.91 | $537.13 | $540.04 | $538.58 | |
Nov, 2027 | 36 | $1.46 | $538.58 | $540.04 | $0.00 | |
Original vs. Loan Refinance |
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Original | Auto Loan Refinance | |||||
Monthly Payment | $446.87 | $540.04 | ||||
Total Interest | $2,083.08 | $941.55 | ||||
Total Principal | $18,500.00 | $18,500.00 | ||||
Total Payment | $20,583.08 | $19,441.55 | ||||
Closing Cost | $0 | $200.00 | ||||
Other Expenses | $0 | $0.00 | ||||
Total Interest Savings | $0 | $1,141.53 | ||||
Total Savings | $0 | $941.53 | ||||
Payoff Date | Oct, 2028 | Nov, 2027 |
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