Calculator
Auto refinance calculator
Enter your current loan, then try an example new rate and term to see how the monthly payment could change.
Your current loan
Example refinance scenario
Example new monthly payment
$439.43
Potential monthly difference
About $81 less
This is an example scenario, not guaranteed savings. A longer term can lower the payment while increasing total interest. Actual rates and terms are determined by the provider.
Check Refinance OptionsWhat the result means
The example new payment is what you might pay if you refinanced your current balance at the rate and term you entered. The monthly difference compares that to your current payment. A positive difference means the example scenario is lower per month. This is an illustration, not guaranteed savings.
How the calculation works
We take your current balance and apply standard amortized loan math at the example new rate and term to estimate a new payment. Then we subtract it from your current payment. Extending the term can lower the monthly payment while increasing the total interest you pay over the life of the loan, so it is worth weighing both.
When refinancing can help
Refinancing may help if rates have dropped, if your credit has improved since you took the original loan, or if your current rate is high. Whether it actually lowers your cost depends on the offer a provider makes for your situation.