Auto Loan Refinance Calculator
Wondering if refinancing your car loan is worth it? Compare your current loan to a new refinanced loan, see potential monthly savings and total interest saved, and find out exactly when you'll break even.
Monthly Payment Savings
$25/mo
$568 → $544
Interest Saved
$889
Old Payment
$568
New Payment
$544
Term Change
Same term length
Remaining Balance Over Time
Current Loan
Check your latest statement for payoff amount
New Loan (Refinance)
Rate reduction: 2.60%
Title transfer, registration, lender fees
Estimated Net Savings
$859
You'll save $859 total. Break-even in 11 months.
Break-even in
11 months
Monthly Change
-$23.09
Interest Savings
$1,109
Rate Reduction
2.60%
Break-Even
11 mo
Side-by-Side Comparison
| Metric | Current Loan | Refinanced | Difference |
|---|---|---|---|
| Monthly Payment | $445.00 | $421.91 | -$23 |
| Interest Rate | 8.50% | 5.90% | — |
| Remaining Term | 48 months | 48 months | — |
| Total Interest | $3,360 | $2,251 | -$1,109 |
| Total Cost | $21,360 | $20,501 | -$859 |
| Refinance Fees | — | $250 | +$250 |
| Payoff Date | February 2030 | February 2030 | — |
Cost Comparison
About This Analysis
This calculator provides estimates based on the inputs you supply. It assumes standard amortization and does not account for taxes, insurance, PMI, prepayment penalties, or the opportunity cost of funds. Results are for informational and educational purposes only and should not be considered financial advice. Consult a qualified professional before making financial decisions.
- ·Does not account for potential changes in vehicle value or negative equity.
- ·Actual rates and fees vary by lender and creditworthiness.
Related Resources
Related Calculators
Debt Payoff Calculator
Create your debt-free roadmap
Balance Transfer Calculator
Calculate savings from a 0% balance transfer
Loan Comparison Calculator
Compare loan offers side by side
Loan Repayment Comparison
Compare different repayment strategies
Debt Consolidation Calculator
See if consolidating saves you money
Also Consider
Quick Reference
- Average Credit Card APRsBy card type (rewards, store, secured)
- Credit Score RangesFICO vs VantageScore, what each range means
- Balance Transfer TermsHow 0% intro APR works, typical terms and fees
- Debt-to-Income GuidelinesWhat lenders want for mortgages, auto, personal loans
- Statute of Limitations by StateHow long debt can be legally collected
Insights
8 calculators · 5 reference pages