A lower interest rate on a refinance offer doesn’t automatically mean it’s worth taking, fees can eat into the savings, and it matters how long you’ll actually keep the loan. This auto refinance calculator compares your current auto loan against a proposed refinance offer directly, showing your new monthly payment, the break-even point on any fees, and your net lifetime savings.

How to use this auto refinance calculator

1. Select your Currency.
2. Under Current Loan, enter your Current monthly payment, Balance left on current loan, Current interest rate (APR%), and Remaining months on current loan.
3. Under Refinance Offer, enter the New interest rate (APR%) and New loan term (months).
4. Optionally enable “Include refinance fees / closing costs” and enter a fee amount, plus any number of custom named fees or taxes (each as a fixed amount or a % of your current balance).
5. Optionally enable “Include bank / finance provider info in export” to label your exported report.
6. Click Calculate to see your Monthly Savings, Break-Even Point, and Net Lifetime Savings.
7. Switch to Compare Banks to test multiple refinance offers side by side.
8. Export as PDF, Excel, or PNG, and check View History.

What this auto refinance calculator does

Refinancing an auto loan means replacing your current loan with a new one, ideally at a lower rate, but the new loan’s payment, term, and any fees all interact to determine whether it’s actually a good deal. This calculator runs the full comparison: it recalculates what your new monthly payment would be under the refinance offer’s rate and term, compares it against your current payment, and factors in any fees to show you the real net benefit, not just the headline rate difference.

The break-even point: why fees matter

If refinancing costs money upfront, fees, closing costs, or any custom charges, that cost needs to be recovered through lower monthly payments before the refinance actually saves you anything net. The Break-Even Point tells you exactly how many months that takes. If you plan to keep the car (and the loan) for longer than the break-even period, refinancing is a net win; if you’re likely to sell or pay off the loan before then, the fees may outweigh the savings.

Monthly Savings versus Net Lifetime Savings

These two figures answer different questions. Monthly Savings is the simple difference between your current payment and your new payment under the refinance offer, useful for immediate cash-flow planning. Net Lifetime Savings accounts for the full picture over the entire remaining loan term, total interest paid under each scenario, minus any refinance fees, giving you the real total dollar benefit (or cost) of refinancing rather than just the monthly difference.

Custom fees and taxes

Beyond a single flat refinance fee, this calculator lets you add any number of custom named fees, a title fee, a documentation stamp tax, a registration fee, each entered as either a fixed amount or a percentage of your current loan balance. These are added on top of the base fee amount, giving you a complete and itemized picture of what a specific refinance offer would actually cost upfront, rather than a single lump estimate.

Comparing multiple refinance offers

The Compare Banks tab lets you test several different refinance offers against the same current loan, useful for shopping multiple lenders and seeing which one offers the best combination of rate, term, and fees, rather than evaluating each offer separately and comparing the numbers by hand.

A note on accuracy

This calculator provides estimates only, not financial advice. Your actual approved rate depends on your credit profile and the lender’s underwriting, and exact fees vary by lender and state. Confirm final numbers with your lender’s official refinance offer before proceeding.

Frequently asked questions