See how much you could save on your car loan
Estimated monthly payment1
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Auto refinance can help you take control of your monthly payment by replacing your current auto loan with a new one: sometimes at a lower APR, different term, or both. This calculator helps you estimate potential savings by comparing your current loan details to a refinance scenario.
Ready to get started?
Find out with our fast and easy process. Save an average of $159 a month.*
Check your rateFAQ: Auto Refinance Calculator
Where do the APRs shown in the calculator come from?
Our APR estimates are sourced from Caribou’s Today’s Auto Refinance Rates page, which reflects rates we’re seeing across our lending partners. The rates shown there are based on prequalified rates through Caribou (not guaranteed) and are updated daily. Actual APRs may vary.**
I’ve heard of refinancing a mortgage. Can I really do the same thing for my car?
Most people are familiar with refinancing a mortgage, but you can also refinance auto loans! When you refinance an auto loan through Caribou, you could save hundreds-even thousands of dollars in interest*
Why should I refinance my vehicle?
Many people refinance because they can get better terms than when they first purchased their vehicle. This saves people money over the lifetime of their loan, either with a lower monthly payment, interest savings, or both! When you refinance, you also have an opportunity to adjust the term of your loan.
When is the best time to refinance my car?
Refinancing can make sense if your credit has improved, rates have dropped, your income is stronger, or you want to change your term. Many people also refinance after they’ve made a few on-time payments on a newer loan.
What factors go into qualifying for a refinance?
When you apply for a refinance, we’ll need a few pieces of information about you and your vehicle. This information helps us find the best terms you qualify for, and helps us pair you with one of our lending partners.
Why can my monthly payment go down but total savings look smaller (or negative)?
A lower monthly payment can happen if you extend the term. Extending the term may reduce your monthly payment but increase total interest over time. If you’re considering refinancing, start by asking yourself: do you want to lower your monthly payment, or save more in the long run?
Can I refinance my lease through Caribou?
No, we do not currently refinance auto lease buyouts.
