Auto Loan Refinance Calculator
If interest rates have dropped or your credit has improved since you bought your car, refinancing might lower your payment. This calculator helps you see whether refinancing your auto loan at a lower rate could reduce what you pay and save you money. It's intended for current auto borrowers, so you can quickly gauge whether refinancing is worth exploring.
Questions about refinancing or auto loans from UMB?
In many cases, yes, you can refinance your auto loan. A new auto loan term or lower interest rate may lower your current monthly payment amount. Here’s a couple things to keep in mind if you’re thinking about refinancing the loan on your car:
Refinancing your car replaces your original loan with a new loan. You pay the refinanced auto loan according to the rate and terms of the new agreement.
Credit history affects auto refinancing. As with the original vehicle loan, getting the best auto refinance rate today depends on a few factors, including your credit score. Generally, to receive the best auto refinancing rates, you need a demonstrated history of paying your credit obligations on time, over a span of time.
Getting the best car loan interest rate or auto loan interest rate depends on a borrower’s credit history, the age of the vehicle and the term (length in years) of the vehicle financing.
UMB offers competitive auto loan refinancing rates as well as options for financing for recreational vehicles, like motorcycles, boats, RVs and ATVs.
Understand your financial goals and priorities before refinancing a vehicle.
Most lenders should offer several different ways for you to be able to apply for an auto loan quickly and easily. But before you apply, it’s a good idea to do your research ahead of time to determine the price of the car you’d like to buy and know how much you’ll be able to spend toward a down payment. UMB offers two easy ways for you to apply for an auto loan:
Apply online
Take advantage of our competitive auto loan interest rates and personalized customer service. You can easily apply online today for a UMB auto loan.
Speak to a UMB personal banker
Whether you’re buying a new or used car or truck, or a recreational vehicle like a motorcycle or RV, we’re here to help in person. For more answers to your auto loan questions, schedule an appointment with a personal banker at a UMB branch location.
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