How this auto refinance calculator works
The calculator compares the current loan balance, payment and rate with a new refinance scenario. It estimates the new payment, interest difference, total cost difference, payoff timing and any break-even point for upfront fees.
Payment change vs total cost
A lower monthly payment can still increase total interest if the new term is longer or fees are higher. Read the payment result alongside the interest and total-cost comparison.
What this calculator does not include
This calculator does not check approval, credit, vehicle eligibility, title rules, prepayment penalties, insurance or tax treatment. It is a general estimate based only on the values entered.
Key terms and assumptionsFormula notes, key terms, source assumptions and limits used in this calculator.
- Current loan
- The current loan estimate uses the balance, APR/rate and current monthly payment entered.
- Refinance balance
- Refinance fees are either paid upfront or added to the new balance, depending on the More inputs setting.
- Break-even
- Break-even compares upfront fees with estimated monthly payment savings when the refinance payment is lower.
- Term extension
- A longer refinance term can lower the monthly payment while increasing payoff time or interest.
- Region settings
- Region settings change defaults, labels and currency formatting only. They do not convert exchange rates or create country-specific results.
- General estimate
- The result does not include lender approval, credit effects, title fees, prepayment penalties, insurance or tax treatment.
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FAQs
What does an auto refinance calculator show?
It estimates how a new car loan scenario changes payment, interest, payoff time and total cost from the assumptions entered.
Does a lower payment always mean lower total cost?
No. A lower payment can still cost more if the new term is longer or fees are higher.
Should refinance fees be added to the loan?
The calculator lets you test fees paid upfront or added to the new balance. Adding fees to the loan can change payment and interest.
Does this check whether I qualify?
No. It does not check credit, lender criteria, vehicle eligibility or approval.
What is the break-even point?
It is the estimated time needed for monthly payment savings to recover upfront refinance fees.
Does this include prepayment penalties?
No. Add any known penalty to refinance fees if you want it reflected in the estimate.
How is this different from the car payment calculator?
The car payment calculator estimates one new loan. This tool compares an existing loan with a refinance scenario.
Is this financial advice?
No. It is a general estimate based on the values entered, not financial, tax, legal, credit, lending or refinance advice.