Auto Loan Refinance Calculator

Auto Loan Refinance Calculator - If you love your car but are struggling to make the payments, refinancing your auto loan could provide some breathing room in your monthly budget.

An auto loan refinance calculator can help you determine the impact a lower interest rate will have on your monthly payment or on the term of your loan-all you need to do is input some basic information.

Most car refinance calculators ask for the following :

Amount of original loan

Original loan term in months

Interest rate of original loan

Current monthly payment

Number of monthly payments you've made

Interest rate of new loan

New interest rate

Number of months for new loan

Fees required for refinancing

Even if you already have a low APR on your car loan, a reduction of just 1% could translate into a savings of several hundred dollars. For example, refinancing a $16,500 car for 60 months from 7% APR to 6% APR will lower your monthly payment nearly $8. While $8 may not have a major impact on your monthly budget, the savings over time - more than $450 throughout the course of your loan - is far more significant. Fees associated with an auto refinance are typically between $10-$85, so within a few months you'll save enough to recoup the closing costs.

Want to have your car paid off by the time you graduate, get married, or buy a home? A car refinance calculator allows you to assess the term length in addition to the interest rate. To determine the payment for a lower interest rate and shorter term, simply plug in the information and the calculator will do the math.

A car loan refinance calculator is an excellent tool for assessing your auto refinance options. After evaluating the bottom line, you'll be better equipped to decide whether a refinance makes sense for your personal financial situation.


Refinance My Car

Auto Refinance Rates

Automobile Refinance

Bad Credit Auto Refinance

Auto Refinance Bad Credit

Car Lease Refinance