{
  "id": "v20-ca-auto-refinance",
  "version": "20.16.0",
  "name": "Auto Refinance Calculator — Canada",
  "shortName": "Auto Refinance",
  "description": "Compare remaining cash payments under the current loan with a new term, keeping financed fees separate from up-front fees. CAD planning view; stated limitations apply.",
  "category": "Finance",
  "categorySlug": "finance",
  "keywords": [
    "auto-refinance",
    "ca",
    "consumer-finance",
    "loan-amortization"
  ],
  "status": "live",
  "workStatus": "pending",
  "reviewStatus": "pending",
  "migrationStatus": "new",
  "engine": "native",
  "creator": null,
  "reviewer": null,
  "quality": {
    "availability": "live",
    "technicalReviewRecord": "/reviews/v20-ca-auto-refinance.json",
    "qualifiedReview": "pending",
    "qualifiedReviewer": null,
    "qualifiedReviewDate": null,
    "formulaVersion": "20.16.0",
    "referenceCoverage": "references-listed",
    "releaseTestScope": "Catalog and regression checks are not a professional formula audit; consult release evidence.",
    "historicalMetadataDate": "",
    "historicalMetadataNotice": "The imported date is not evidence of a completed human review."
  },
  "notice": "Illustrative defaults are not local quotes or verified legal rules. Dated reference components and user-entered assumptions are explicitly distinguished. Professional review is pending.",
  "urls": {
    "page": "/ca/auto-refinance/",
    "definition": "/ca/auto-refinance/definition.json",
    "schema": "/ca/auto-refinance/schema.json",
    "llms": "/ca/auto-refinance/llms.txt",
    "legacyDefinition": "/ca/auto-refinance/definition.json"
  },
  "queryExample": "https://askcalculators.com/ca/auto-refinance/?balance=18000&oldRate=8&oldMonths=48&newRate=5&newMonths=48&fees=300&financeFees=0",
  "queryParameters": {
    "balance": {
      "label": "Current principal balance",
      "type": "money",
      "required": true,
      "default": 18000
    },
    "oldRate": {
      "label": "Current annual nominal interest rate",
      "type": "percent",
      "required": true,
      "default": 8
    },
    "oldMonths": {
      "label": "Current remaining monthly payments",
      "type": "number",
      "required": true,
      "default": 48
    },
    "newRate": {
      "label": "New annual nominal interest rate",
      "type": "percent",
      "required": true,
      "default": 5
    },
    "newMonths": {
      "label": "New term, monthly payments",
      "type": "number",
      "required": true,
      "default": 48
    },
    "fees": {
      "label": "Refinance fees",
      "type": "money",
      "required": true,
      "default": 300
    },
    "financeFees": {
      "label": "Add fees to the new principal",
      "type": "checkbox",
      "required": false,
      "default": false
    }
  },
  "inputs": [
    {
      "id": "balance",
      "label": "Current principal balance",
      "type": "money",
      "defaultValue": 18000,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "CAD",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "oldRate",
      "label": "Current annual nominal interest rate",
      "type": "percent",
      "defaultValue": 8,
      "required": true,
      "min": 0,
      "max": 100,
      "step": 0.1,
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "oldMonths",
      "label": "Current remaining monthly payments",
      "type": "number",
      "defaultValue": 48,
      "required": true,
      "min": 1,
      "max": 1200,
      "step": 1,
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "newRate",
      "label": "New annual nominal interest rate",
      "type": "percent",
      "defaultValue": 5,
      "required": true,
      "min": 0,
      "max": 100,
      "step": 0.1,
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "newMonths",
      "label": "New term, monthly payments",
      "type": "number",
      "defaultValue": 48,
      "required": true,
      "min": 1,
      "max": 1200,
      "step": 1,
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "fees",
      "label": "Refinance fees",
      "type": "money",
      "defaultValue": 300,
      "required": true,
      "min": 0,
      "max": 1000000000000,
      "step": 0.01,
      "prefix": "CAD",
      "help": "Illustrative starting value; replace with your own evidence."
    },
    {
      "id": "financeFees",
      "label": "Add fees to the new principal",
      "type": "checkbox",
      "defaultValue": false
    }
  ],
  "outputs": [
    {
      "id": "oldPayment",
      "label": "Current modeled monthly payment",
      "format": "currency",
      "digits": 2,
      "currency": "CAD"
    },
    {
      "id": "newPayment",
      "label": "New modeled monthly payment",
      "format": "currency",
      "digits": 2,
      "currency": "CAD"
    },
    {
      "id": "monthlySaving",
      "label": "Monthly payment reduction",
      "format": "currency",
      "digits": 2,
      "currency": "CAD"
    },
    {
      "id": "totalSaving",
      "label": "Difference in remaining total cash paid",
      "format": "currency",
      "digits": 2,
      "primary": true,
      "currency": "CAD"
    },
    {
      "id": "feePayback",
      "label": "Up-front fee payback, months",
      "format": "number",
      "digits": 2
    }
  ],
  "formula": {
    "expression": "level payment = principal × monthly rate / (1 − (1 + monthly rate)^−months).",
    "note": "Inputs are converted to canonical units before evaluating this stated formula."
  },
  "examples": [
    {
      "label": "Illustrative defaults; required verification checks remain unconfirmed",
      "inputs": {
        "unitSystem": "metric",
        "balance": 18000,
        "oldRate": 8,
        "oldMonths": 48,
        "newRate": 5,
        "newMonths": 48,
        "fees": 300,
        "financeFees": false
      }
    }
  ],
  "sources": [
    {
      "label": "CFPB loan-estimate explanation",
      "url": "https://www.consumerfinance.gov/owning-a-home/loan-estimate/"
    },
    {
      "label": "CFPB comparing borrowing costs",
      "url": "https://www.consumerfinance.gov/owning-a-home/compare/compare-loan-estimates/"
    }
  ],
  "publicSlug": "auto-refinance",
  "namespace": "ca",
  "countries": [
    "us",
    "ca"
  ]
}