{
  "$schema": "https://json-schema.org/draft/2020-12/schema",
  "$id": "https://askcalculators.com/us/auto-refinance/schema.json",
  "title": "Auto Refinance Calculator — United States inputs",
  "description": "Compare remaining cash payments under the current loan with a new term, keeping financed fees separate from up-front fees. USD planning view; stated limitations apply.",
  "type": "object",
  "properties": {
    "balance": {
      "title": "Current principal balance",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 18000,
      "minimum": 0,
      "maximum": 1000000000000,
      "x-step": 0.01,
      "x-prefix": "USD",
      "x-unit": "currency"
    },
    "oldRate": {
      "title": "Current annual nominal interest rate",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 8,
      "minimum": 0,
      "maximum": 100,
      "x-step": 0.1,
      "x-unit": "percent"
    },
    "oldMonths": {
      "title": "Current remaining monthly payments",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 48,
      "minimum": 1,
      "maximum": 1200,
      "x-step": 1,
      "multipleOf": 1
    },
    "newRate": {
      "title": "New annual nominal interest rate",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 5,
      "minimum": 0,
      "maximum": 100,
      "x-step": 0.1,
      "x-unit": "percent"
    },
    "newMonths": {
      "title": "New term, monthly payments",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 48,
      "minimum": 1,
      "maximum": 1200,
      "x-step": 1,
      "multipleOf": 1
    },
    "fees": {
      "title": "Refinance fees",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 300,
      "minimum": 0,
      "maximum": 1000000000000,
      "x-step": 0.01,
      "x-prefix": "USD",
      "x-unit": "currency"
    },
    "financeFees": {
      "title": "Add fees to the new principal",
      "type": "boolean",
      "default": false
    }
  },
  "required": [
    "balance",
    "oldRate",
    "oldMonths",
    "newRate",
    "newMonths",
    "fees"
  ],
  "additionalProperties": false,
  "x-askcalculators": {
    "version": "20.16.0",
    "calculatorUrl": "https://askcalculators.com/us/auto-refinance/",
    "queryExample": "https://askcalculators.com/us/auto-refinance/?balance=18000&oldRate=8&oldMonths=48&newRate=5&newMonths=48&fees=300&financeFees=0",
    "migrationStatus": "new",
    "reviewStatus": "pending",
    "pageStatus": "live",
    "workStatus": "pending",
    "formula": {
      "expression": "level payment = principal × monthly rate / (1 − (1 + monthly rate)^−months).",
      "note": "Inputs are converted to canonical units before evaluating this stated formula."
    },
    "quality": {
      "availability": "live",
      "technicalReviewRecord": "/reviews/v20-us-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."
    },
    "outputs": {
      "oldPayment": {
        "title": "Current modeled monthly payment",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2
      },
      "newPayment": {
        "title": "New modeled monthly payment",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2
      },
      "monthlySaving": {
        "title": "Monthly payment reduction",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2
      },
      "totalSaving": {
        "title": "Difference in remaining total cash paid",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2,
        "x-primary": true
      },
      "feePayback": {
        "title": "Up-front fee payback, months",
        "type": "number",
        "x-format": "number",
        "x-digits": 2
      }
    }
  }
}