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Auto Refinance Calculator

Current Loan

If loan amount is not available, you can use the auto loan calculator to find it.

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New Loan
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Calculated Results
Total money saved at loan maturity date: 1,083.05
Original Loan with new Term
Monthly Payment377.42
Total Interest2,645.48
Total Payment22,645.48
New Loan
Monthly Payment359.37
Total Interest1,562.43
Total Payment21,562.43

Payment Schedule

Year Orig Interest Orig Principal Orig Balance New Interest New Princial New Balance
1 917.99 3,611.11 16,388.89 548.53 3,763.96 16,236.04
Month183.33294.0919,705.9150.00309.3719,690.63
Month282.11295.3219,410.5949.23310.1519,380.48
Month380.88296.5519,114.0448.45310.9219,069.56
Month479.64297.7818,816.2647.67311.7018,757.86
Month578.40299.0218,517.2446.89312.4818,445.38
Month677.16300.2718,216.9746.11313.2618,132.12
Month775.90301.5217,915.4545.33314.0417,818.07
Month874.65302.7817,612.6744.55314.8317,503.24
Month973.39304.0417,308.6343.76315.6217,187.63
Month1072.12305.3117,003.3342.97316.4016,871.22
Month1170.85306.5816,696.7542.18317.2016,554.03
Month1269.57307.8516,388.8941.39317.9916,236.04
2 733.24 3,795.86 12,593.04 434.04 3,878.44 12,357.60
Month1368.29309.1416,079.7640.59318.7815,917.26
Month1467.00310.4315,769.3339.79319.5815,597.68
Month1565.71311.7215,457.6138.99320.3815,277.30
Month1664.41313.0215,144.5938.19321.1814,956.12
Month1763.10314.3214,830.2737.39321.9814,634.13
Month1861.79315.6314,514.6436.59322.7914,311.34
Month1960.48316.9514,197.6935.78323.6013,987.75
Month2059.16318.2713,879.4334.97324.4013,663.34
Month2157.83319.5913,559.8334.16325.2213,338.13
Month2256.50320.9313,238.9133.35326.0313,012.10
Month2355.16322.2612,916.6432.53326.8412,685.26
Month2453.82323.6112,593.0431.71327.6612,357.60
3 539.04 3,990.06 8,602.98 316.07 3,996.41 8,361.18
Month2552.47324.9512,268.0930.89328.4812,029.12
Month2651.12326.3111,941.7830.07329.3011,699.81
Month2749.76327.6711,614.1129.25330.1211,369.69
Month2848.39329.0311,285.0828.42330.9511,038.74
Month2947.02330.4010,954.6727.60331.7810,706.96
Month3045.64331.7810,622.8926.77332.6110,374.36
Month3144.26333.1610,289.7325.94333.4410,040.92
Month3242.87334.559,955.1825.10334.279,706.65
Month3341.48335.949,619.2424.27335.119,371.54
Month3440.08337.349,281.8923.43335.949,035.60
Month3538.67338.758,943.1422.59336.788,698.81
Month3637.26340.168,602.9821.75337.638,361.18
4 334.90 4,194.20 4,408.78 194.52 4,117.97 4,243.22
Month3735.85341.588,261.4020.90338.478,022.71
Month3834.42343.007,918.4020.06339.327,683.40
Month3932.99344.437,573.9719.21340.177,343.23
Month4031.56345.877,228.1018.36341.027,002.21
Month4130.12347.316,880.7917.51341.876,660.35
Month4228.67348.756,532.0416.65342.726,317.62
Month4327.22350.216,181.8315.79343.585,974.04
Month4425.76351.675,830.1614.94344.445,629.61
Month4524.29353.135,477.0314.07345.305,284.31
Month4622.82354.605,122.4313.21346.164,938.14
Month4721.34356.084,766.3512.35347.034,591.11
Month4819.86357.564,408.7811.48347.904,243.22
5 120.31 4,408.78 0.0 69.27 4,243.22 0.0
Month4918.37359.054,049.7310.61348.773,894.45
Month5016.87360.553,689.189.74349.643,544.81
Month5115.37362.053,327.128.86350.513,194.30
Month5213.86363.562,963.567.99351.392,842.91
Month5312.35365.082,598.487.11352.272,490.65
Month5410.83366.602,231.896.23353.152,137.50
Month559.30368.131,863.765.34354.031,783.47
Month567.77369.661,494.104.46354.921,428.56
Month576.23371.201,122.903.57355.801,072.75
Month584.68372.75750.162.68356.69716.06
Month593.13374.30375.861.79357.58358.48
Month601.57375.860.90358.48
Total2,645.4820,000.001,562.4320,000.00
What is auto refinance?

An auto loan refinance is the process of applying for a new auto loan to pay off your existing auto loan with better interest rate and/or better terms. Auto refinance may be able to reduce your monthly payment and save you hundreds dollars on interests over the whole life of your auto loan.

If interest rate on the auto loan market has gone down, or your credit score has improved since your existing auto loan. It's time to think of an auto refinance.

It is important to fully understand the benefits and drawbacks of auto refinancing before you start the process. Using our auto refinance calculator to find out how much you can save before you decide. Remember to shop around for your auto refinance to get the best rate and terms so that you can save even more.

How to calculate money saved for auto refinance
By common sense, if the new loan has a lower interest rate and the refinance is zero cost, you will save money. However, if there is a front cost for refinance, it is not that straight forward to figure it out if the refinance will save you money or not. To make the comparation meaningful, we will need to apply the original loan to the new term. In other words, auto refinance calcualtor will use the original loan balance as a new loan over the new term with the original interest rate to compare the original loan balance plus the refinance cost over the new loan term with the new interest rate. To make the two loans have the same amount of monthly payment terms will make the comparation meaningful. Otherwise, the interest payment difference could come from the duration of the loan term.