Car Refinance Calculator
See if refinancing your auto loan will save you money
Loan Details
Typical: 4% - 10%
Loan Summary
Loan Details
Financial Disclaimer
This calculator provides estimates for informational purposes only. Actual loan terms, rates, and payments may vary. This is not financial advice. Consult with a qualified financial advisor or lender for specific guidance. PayoffCalculator.io is not a lender and does not provide loans.
How to Use This Car Refinance Calculator
Enter your current loan balance, interest rate, and remaining term. Then enter the new loan offer details including rate, term, and any fees. The calculator compares both scenarios.
Understanding Car Refinance Loans
Auto loan refinancing replaces your current loan with a new one, ideally at a lower rate. Consider the remaining balance, rate difference, and fees to determine if refinancing makes sense.
Tips for Getting the Best Car Refinance Rate
Shop around with multiple lenders including credit unions. Apply to several lenders within 14-45 days so multiple inquiries count as one for credit scoring. Consider the total cost, not just monthly payment.
Frequently Asked Questions
Consider refinancing if rates have dropped significantly, your credit has improved, or you need lower monthly payments. The savings should outweigh any refinancing fees.