Auto Refinance Calculator
See whether refinancing your car loan really saves money — not just a lower payment, but less paid in total.
- Current monthly payment—
- Monthly savings—
- Total savings (after fees)—
- Interest left on current loan—
- Interest on the new loan—
- Months to recover the fees—
Saved scenarios
100% private. Everything is calculated in your browser. Nothing you type is sent or stored on a server.
Estimates for education only — not financial, tax or legal advice. Lenders may calculate taxes and fees differently by state or province. Always check your contract.
How car loan refinancing works
When you refinance, a new lender pays off your current loan and you start a new one, ideally at a lower APR. This car refinance calculator compares what you would still pay on the current loan with the full cost of the new one, including any fees rolled into it.
Worked example
You owe $20,000 at 9% APR with 48 months left: the payment is about $497.70. Refinancing at 6% for 48 months drops it to about $469.70 — $28 a month and roughly $1,344 over the loan.
Watch out for a longer term
A longer new term can lower the payment even if you end up paying more in total. The calculator flags this case. Refinancing usually makes sense when your credit score has improved, rates have dropped, or you got a high dealer rate. Check your current loan for prepayment penalties first.
Prefer to pay the loan off faster instead? Try the car loan payoff calculator.
Frequently asked questions
When is it worth refinancing a car loan?
When the new APR is clearly lower and the new term is not longer than the months you have left, so you pay less in total after fees.
Does refinancing hurt my credit?
Applying causes a hard inquiry, which may lower your score slightly for a short time. Rate shopping within a short window usually counts as one inquiry.
What fees come with refinancing?
Some lenders charge an origination fee, and most states charge a title transfer fee. Enter them to see the real savings.
What is the break-even point?
The number of months of lower payments needed to recover the fees you paid to refinance.
Can I refinance if I owe more than the car is worth?
It is harder. Many lenders limit the loan-to-value ratio, so you may need to pay down the balance first.
More lease calculators
Car leasing
- Car Lease CalculatorEnter the numbers from the dealer quote to see your monthly lease payment — and exactly where every dollar goes.Open calculator →
- Lease Deal CheckerType in the numbers from the dealer's quote. We grade the deal, reveal the money factor hidden in the payment and flag anything worth negotiating.Open calculator →
- Money Factor to APR CalculatorType a money factor or an APR — the other updates instantly. Add your contract numbers to find your real rate and any markup.Open calculator →
- Lease Buyout CalculatorFind out what it really costs to buy your leased car and whether it is worth more than the buyout.Open calculator →
- Lease vs Buy Car CalculatorCompare the true cost of leasing versus buying the same car, counting the value of the car you would own.Open calculator →
- Lease Mileage CalculatorFind out if you will go over your lease miles, what it could cost, and how much you can still drive each month.Open calculator →
- Early Lease Termination CalculatorCompare the three ways out of a car lease — return it early, sell it, or keep it — and see roughly what each one costs.Open calculator →
- Lease Equity CalculatorSee if your leased car is worth more than you owe — and what negative equity would add to your next lease.Open calculator →
Buying & car loans
- Car Payment CalculatorWork out the monthly payment on an auto loan — with tax, trade-in and fees — and see how much interest you will pay.Open calculator →
- Car Affordability CalculatorStart from the monthly payment you are comfortable with and see the most you should spend on a car.Open calculator →
- Car Loan Payoff CalculatorFind out how much faster you can pay off your car — and how much interest you save — with extra payments.Open calculator →
- Out-the-Door Price CalculatorTurn the sticker price into the real amount you will pay: sales tax, dealer fees, title and registration included.Open calculator →
- Balloon Payment CalculatorFind the monthly payment on a car loan with a lump sum at the end — and how much extra interest it costs.Open calculator →
- PCP CalculatorWork out the monthly cost of Personal Contract Purchase car finance and compare it with hire purchase.Open calculator →
- Car Depreciation CalculatorSee how much value a car loses each year and what it may be worth when you sell, trade in or reach lease end.Open calculator →
Running costs & taxes
- Fuel Cost CalculatorFind out how much gas a trip will cost — and how much each person owes if you share the ride.Open calculator →
- Gas Mileage Calculator (MPG)Measure your car's real fuel economy from one full tank and convert it between mpg and L/100 km.Open calculator →
- EV Charging Cost CalculatorSee what it costs to charge an electric car each month — and compare it with filling up a gas car.Open calculator →
- Mileage Reimbursement CalculatorCalculate what your miles are worth at the 2026 IRS standard rates — or your employer's rate — and compare with what you spend on gas.Open calculator →