Loans & Mortgages2 options compared

Auto Refinance Calculator

Calculates estimated monthly and lifetime savings by comparing current auto loan terms to potential refinanced terms from various lenders. Users input their existing loan details, desired refinancing options, and preferred lender selection criteria. The tool then analyzes these inputs to provide a detailed comparison of the new financing option against the original, highlighting both monthly...

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Editors’ Top PickBased on community votes
Other OptionsRanked by votes

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Auto Refinance Calculator options compared

ToolBest forStrengthsLimitations
Bankrate Calculators
bankrate.com
Quick estimate of savings
  • Simple input fields for balance, rate, and term
  • No login required to use the calculator
  • Ads on the page may distract from results
  • No integration with specific lender offers
NerdWallet Financial Calculators
nerdwallet.com
Compare savings and lender options
  • Shows total interest and total payments side-by-side
  • Displays partner lender options alongside calculations
  • Requires more detailed input fields than Bankrate
  • Partner compensation may influence lender visibility

Buyer's guide

How to choose a auto refinance calculator

When you just need a fast sense of whether refinancing makes financial sense, Bankrate's simpler form gets you to a number quicker. If you also want to see which lenders might offer you a better rate and don't mind a slightly more detailed setup, NerdWallet provides that context in one place.

Questions

Auto Refinance Calculator FAQ

What details do I need to use an auto refinance calculator?
You'll need your current loan balance, remaining term, current interest rate, and the new rate and term you're considering. Some tools also ask for your monthly payment to verify the math.
Will using a refinance calculator hurt my credit score?
No. The calculators only use hypothetical numbers you provide; they don't run a credit check or require your personal information.
Can I refinance with my current lender?
Yes, many borrowers start with their existing lender, but it's wise to compare rates from other institutions first, as other lenders may offer lower rates or better terms.
How accurate are the savings estimates from these calculators?
They provide a solid ballpark figure, but actual offers depend on your credit profile, debt-to-income ratio, and the lender's final underwriting decisions.
Should I choose a shorter or longer term when refinancing?
A shorter term typically saves you total interest over time but raises your monthly payment, while a longer term lowers the monthly payment at the cost of paying more interest overall.
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