Auto Loan Refinance Calculator
Calculate potential savings by refinancing your auto loan to a lower rate or different term.
Show this tool on your website
Auto Refinance Loan Details
Compare Loan Terms
Loan Summary
Monthly Payment
$478.92
4 years at 7.00% APR
Loan Details
Total Cost
First Year Payment Breakdown
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $362.26 | $116.67 | $19,638 |
| 2 | $364.37 | $114.55 | $19,273 |
| 3 | $366.5 | $112.43 | $18,907 |
| 4 | $368.63 | $110.29 | $18,538 |
| 5 | $370.79 | $108.14 | $18,167 |
| 6 | $372.95 | $105.98 | $17,795 |
| 7 | $375.12 | $103.8 | $17,419 |
| 8 | $377.31 | $101.61 | $17,042 |
| 9 | $379.51 | $99.41 | $16,663 |
| 10 | $381.73 | $97.2 | $16,281 |
| 11 | $383.95 | $94.97 | $15,897 |
| 12 | $386.19 | $92.73 | $15,511 |
Early payments are mostly interest. Principal portion increases over time.
Principal vs Interest Over Time
Term Comparison
Loan Balance Over Time
💡 Tips
- • Best to refinance within first 2 years of loan
- • Rates dropped 2%+? Refinancing likely saves money
- • Check for prepayment penalties on current loan
- • Your credit improved? You may qualify for better rate
⚠️ Important Considerations
- • Extending term lowers payment but increases total interest
- • Some lenders have minimum loan amounts
- • Car must meet age and mileage requirements
- • Title transfer fees may apply
🚗 Transportation & Vehicle Data Sources
• Average annual cost: $12,297 ($1,025/month) for 15,000 miles/year
• Small sedan: ~$8,500/year
• Medium SUV: ~$12,000/year
• Pickup truck: ~$13,500/year
• Includes depreciation, fuel, insurance, maintenance, registration, financing
→ Source: AAA - Your Driving Costs
• New vehicles typically lose 20-30% of value in the first year
• Average 5-year depreciation across all vehicles: ~45-50%
• Trucks and SUVs with high demand retain closer to 55-60%
→ Source: Car and Driver - Depreciation Analysis
• Hybrids average 40.7% depreciation after 5 years (best retention)
• Gasoline & mixed powertrains average 45.6% depreciation after 5 years
• Battery electric vehicles average 58.8% depreciation after 5 years (worst retention)
→ Source: iSeeCars 5-Year Depreciation Study (2025)
• Historical trend: Plug-in vehicles depreciate faster than conventional vehicles
• Improvements in battery tech are narrowing the depreciation gap
• Used EV pricing is heavily influenced by federal tax credits and rapid tech cycles
→ Source: Argonne National Lab - Residual Value Trends
→ Source: Recurrent Auto - Used EV Buying Report
• Up to $7,500 tax credit for new EVs
• Up to $4,000 for used EVs (price cap $25,000)
• Income limits apply: $300k joint, $225k head of household, $150k single
• Vehicle must meet domestic assembly and battery component requirements
→ Source: IRS - Clean Vehicle Credits
• Regular gasoline: $3.10-3.60/gallon (national average)
• Diesel: $3.50-4.20/gallon
• Electricity for EVs: $0.11-0.16/kWh (home charging), equivalent to $0.80-1.20/gallon
• At 12,000 miles/year: Gas car (25 mpg) = $1,680/yr | EV (3.5 mi/kWh) = $620/yr
→ Source: U.S. Energy Information Administration
• Full coverage: $2,008/year ($167/month) national average
• Minimum liability: $622/year ($52/month)
• Varies significantly by state, age, driving record, and vehicle
→ Source: National Association of Insurance Commissioners (NAIC)
• Average annual maintenance/repairs: $1,186 per vehicle
• EVs: ~40% lower maintenance costs (no oil changes, fewer brake repairs)
• Luxury vehicles: 1.5-2x higher maintenance than economy cars
→ Source: AAA - Vehicle Maintenance Costs
• ~30% of new vehicles are leased (down from 35% pre-pandemic)
• Average lease: $578/month for 36 months
• Typical lease mileage allowance: 12,000-15,000 miles/year
• Excess mileage fees: $0.15-0.30 per mile over limit
→ Source: Edmunds - Leasing Statistics
Note: Transportation costs vary widely by location, vehicle type, and usage. Urban dwellers may save significantly by using public transit or rideshare instead of owning.
Explore More Tools
Continue your financial journey with these related calculators
EV vs Gas Car Calculator
Compare electric vs gas car 5-year total cost with break-even analysis
Car Ownership Cost Calculator
Calculate the true total cost of owning a vehicle—beyond the sticker price.
Auto Loan Payment Calculator
Estimate car payments, interest costs, and amortization for new or used vehicles while comparing loan terms, down payments, and credit score APRs.
⚠️ Important Disclaimer
This Auto Loan Refinance Calculator provides estimates for educational and informational purposes only. Actual results may vary significantly based on individual circumstances, market conditions, regulatory changes, and other factors beyond the scope of this calculator.
The calculations and projections provided are based on assumptions and historical data that may not reflect future performance.Past performance does not guarantee future results.
This tool is not financial advice, tax advice, legal advice, or investment advice. For personalized guidance tailored to your specific situation, please consult with qualified professionals including:
- Certified Financial Planner (CFP)
- Certified Public Accountant (CPA) for tax matters
- Licensed attorney for legal matters
- Registered Investment Advisor (RIA) for investment decisions
Data Accuracy: All data sources, statistics, and rates were verified as accurate as of October 2025. Tax rates, market conditions, and other financial data change over time. Always verify current rates and consult official sources.
No Warranties: While we strive for accuracy, we make no warranties or guarantees regarding the accuracy, completeness, or reliability of any information provided. Use this tool at your own risk.