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See How Much Auto Loan Refinancing Could Save You

Auto loan refinancing is the process of replacing your car, truck, or motorcycle loan with a new one of better terms for you. Refinancing your vehicle may help you lower your monthly payment, decrease your total finance charges that you pay over the life of your loan, or remove someone from your loan.

Use this auto loan refinancing calculator to see how much you could potentially save with auto refinancing. Simply plug in the details of your current auto loan and a replacement loan in the first box and press “Calculate.” Try multiple interest rates (APRs) and term lengths in the “New Loan” section to see how different replacement loans may benefit you.

See Your Pre-qualified Auto Refinance Rates

No Credit Score Impact | See Options in Minutes

Auto Loan Refinance Calculator:

Original Loan
Auto Loan Amount $
Loan Term Length
Monthly Payment OR Interest Rate:
Months You’ve Held the Loan
New Loan
New Interest Rate (APR)* %
New Term Length

* Your actual APR will be subject to terms and conditions and will be based upon factors like your income, your vehicle’s loan-to-value ratio, your credit score, and other items. Contact IFS for additional details.

Monthly Payment Comparison
Original Payment

New Payment

Monthly Savings

Finance Charge Comparison
Original Loan:
Total Finance Charge

Finance Charge Remaining

New Loan:
Amount Financed

Finance Charge

Finance Charge Savings

Monthly Payments

Finance Charges

Ready to Refinance Your Auto Loan?

See Your Pre-qualified Auto Refinance Rates in Minutes

No Credit Score Impact | See Options in Minutes

Not sure if you should refinance? Learn more here.

Interpreting the Calculator Results

This calculator shows you the effect that refinancing your auto loan may have on your finances. To compare your current auto loan with a new one, it simply needs the details of your current auto loan and a new loan’s interest rate and term length. The calculator does not need the loan amount of the replacement loan. It calculates how much of your original loan is remaining at the time of refinancing when you supply the “Months You’ve Held the Loan” in the Original Loan section.

Note: the reason you only need to provide the monthly payment or the interest rate and not both in the Original Loan section is that by providing one along with the loan amount and term length, the calculator can easily produce the other.

Monthly Payment Comparison

The comparison of monthly payments is fairly straightforward. By replacing your current auto loan with a new one of a lower interest and/or term length, refinancing can usually provide monthly payment relief.

Finance Charge Comparison

You should also consider how refinancing may affect the finance charges you pay to buy your car. For vehicle loans, finance charges reflect your total cost of borrowing over the life of your loan. They include both the interest you pay on the amount you borrow and the cost of any prepaid finance charges. When an interest rate reflects your total cost of borrowing (both interest and prepaid finance charges), it is known as an Annual Percentage Rate, or APR. So, where this calculator says “Interest Rate,” it is referring to an APR. Learn more about APRs vs. Note Rates for auto loans.

When people refinance their auto loans, they often seek to lower both their monthly payments and their total finance charges. Usually, when you lower your interest rate enough, getting both results is not hard. However, sometimes when you increase your loan term length significantly over the number of months you have remaining on your original loan, your total finance charges can actually increase. Still, in many cases, it may be possible to lower your finance charges while increasing your loan term if you refinance to a low enough interest rate. Also, increasing your term length can dramatically lower your monthly payments, which is why many people chose to increase their loan terms when refinancing. Learn more about finance charges and how auto loan interest works.

Refinancing to Remove Someone from Your Loan

Vehicle loan refinancing is not always about saving money. Another common reason for refinancing is to remove a co-signer from a loan. However, even if you apply to refinance to remove someone from your loan, you may as well see how much you could save on your monthly payments and finance charge.

Want to Learn More About Auto Loan Refinancing?

We have all the resources you need to learn how auto refinancing works, when may be a good time for you to refinance, and even how the refinancing calculators like the one above work. Visit the pages below to get started!

More About Refinancing

How Does Car Loan Refinancing Work?

When Should I Refinance My Car?

How to Refinance a Car

From our Blog: Does Refinancing a Car Hurt Your Credit?

Auto Loan Basics

How Does Car Loan Interest Work?

APR vs. Interest Rate for Car Loans

The Four C’s of Credit

Car Loan Prequalification vs. Preapproval

How to Find and Compare Auto Loans

What is GAP Insurance?

What are Vehicle Service Contracts?

What is Tire and Wheel Insurance?

What is a Loan to Value Ratio?

Real Customer Stories

Our customers just can’t stop talking about the money they are saving as a result of using our services.
Have a look at some of the reviews from a few of our many happy customers.

$200/Month Saved

“I really appreciate the help I received from Joshua N. during the loan process!! With his help, I was able to refinance TWO car loans and save over $200 per month in interest!!

THANK YOU JOSH!!!!” – Sam J.

Reduced Interest Rates

“Before the refinance, the payments were $426.48 a month. Now they are $326.00 month…Unbelievable interest rate of 21.5 percent, but IFS dropped it to 6.75 percent. A real pleasure, thank you!” – Jerry A.

Great Service

“From the time we discussed what I was looking for, Tina had me approved within a couple hours…The entire process was fast, efficient, professional, and very easy. We did everything online and by phone…” – Terri J.

You Can Trust IFS

Don’t settle for just any car loan. Trust IFS to personally match you with auto financing through one of our lenders. 

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