Car Refinance Calculator
Compare current and refinanced auto loan payments, monthly savings, and total savings.
Current Payment
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New Payment
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Monthly Savings
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Total Savings
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Guide
How it works
Use this calculator to estimate whether refinancing a car loan could lower your payment or total cost.
What this calculator does
The car refinance calculator compares your current payment with a new refinance payment using the remaining balance, current terms, new rate, new term, and fees.
Formula
Monthly savings = current payment - new payment
Total savings = remaining current payments - total refinance payments
How to use it
Enter your current balance, current rate, months remaining, new rate, new term, and refinance fees.
Common mistakes
- extending the term too far
- ignoring fees
- focusing only on monthly savings
FAQs
Can a refinance lower payment but increase total cost?
Yes. A longer term can reduce the payment while increasing total interest.
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