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Auto Loan Refinance Calculator

This tool compares your current car loan with a refinance offer. It shows both payments, the interest before and after, how long the fees take to recover, and the net lifetime savings after accounting for the term.

By the AutoLoanable Editorial Team · Last updated 2026-09-17

The lowest rates are only available to the most qualified applicants.

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Enter your numbers and press Calculate. Nothing you type leaves your browser.

How this calculator works

Refinancing replaces your current car loan with a new one, usually to change the rate or the term. This tool compares the two.

Current payment = B × rc ÷ (1 − (1 + rc)^-r), and new payment = B × rn ÷ (1 − (1 + rn)^-m)

  • B — the balance you still owe
  • rc — your current monthly rate, the annual rate divided by 1,200
  • rn — the new monthly rate, the annual rate divided by 1,200
  • r — months remaining on the current loan
  • m — months on the new loan

Break-even is the fees divided by the monthly savings. Net lifetime savings compares total interest before and after and subtracts the fees. If the new term is longer, the payment falls but the balance is spread over more months, so compare the lifetime figure. Enter the rate and fees from your own offer.

What changes your result

Only a few inputs move the number materially. In rough order of impact:

Sensitivity of the monthly payment
InputEffect on the paymentEffect on total cost
Amount financedDirectly proportionalDirectly proportional
Interest rate / APRDirectly proportionalDirectly proportional
Term (months)Lower payment when longerHigher total interest when longer
Down paymentLowers the paymentLowers total interest
Trade-in equityLowers the amount financedLowers total interest
Sales tax and feesRaises the amount financedRaises total cost

Enter the rate you were actually offered. This site is not a lender and does not publish rates — a quoted rate is only meaningful next to the term and the amount financed.

Frequently asked questions

When does refinancing make sense?
A refinance usually helps when the new rate is lower than your current rate and the fees are small enough to recover before you sell or pay off the car. Compare the net lifetime savings, not just the payment.
What is the break-even point?
Break-even is the up-front fees divided by the monthly savings. It is roughly how many months of lower payments it takes to recover the cost of refinancing.
Can a lower payment cost more overall?
Yes. Stretching the balance over a longer term lowers the payment but can add interest. If the new term is longer, the note tells you to compare net lifetime savings.
Does the calculator include the fees?
Yes. Enter the fees from your own offer and they are subtracted from the net lifetime savings and used in the break-even calculation.

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