Auto Loan Refinance Calculator
A lower monthly payment is not the same as a cheaper loan. Enter your current loan and the refinance offer — we show your total cost, the break-even point, and a straight answer.
How to read the result
Total interest is the real cost of borrowing. A refinance can lower your payment while raising total interest — that happens whenever the new term is much longer than the time you have left.
Break-even tells you how many months of savings it takes to pay back the refinance fees. If you plan to sell the car or move before that month, the refi costs you money.
Rule of thumb: a refinance is usually worth it when the new APR is meaningfully lower and the new term is close to your remaining term. If you need a lower payment, a shorter extension is safer than stretching to 72+ months.
FAQ
Is refinancing my car loan worth it?
It depends on total interest, not just the monthly payment. If the new interest rate is lower and the new term is close to your remaining payments, you will usually save money. If you stretch the loan to 72 or 84 months to lower the payment, you may pay more interest overall.
What is a good APR for refinancing?
It varies with credit score, vehicle age, and lender. Compare the offer against your current APR — a drop of 2 percentage points or more is generally meaningful. This calculator shows the dollar impact, which matters more than the rate alone.
Does a lower payment always mean a better deal?
No. A lower monthly payment is often produced by extending the term, which increases total interest. Always compare total cost before signing.
Should I include refinance fees?
Yes, if you know them. Origination fees, lien fees and title costs are part of the deal. The break-even line uses your fee amount to show when the refinance starts paying for itself.