Auto Refinance Calculator
Check whether refinancing your car loan saves money.
Enter your values
ⓘ Live results
Results
- Lifetime saving
- -$439.89
- New monthly payment
- $426.04
- Monthly difference
- $53.96
- Verdict
- Keep the current loan
Quick answer
Refinancing helps when the new rate lowers total remaining interest by more than the fees to switch.
saving = old remaining cost - new total cost - fees
How to use the Auto Refinance Calculator
- 1Enter your current balance, payment and months left.
- 2Enter the rate and term you have been offered.
- 3Watch for a longer term that lowers payments but raises total cost.
Worked example
Using the values the calculator loads with:
Inputs
- Remaining balance18000 $
- Current payment480 $
- Months remaining42
- New rate6.4 %
- New term48 months
- Refinance fees150 $
Results
- Lifetime saving-$439.89
- New monthly payment$426.04
- Monthly difference$53.96
- VerdictKeep the current loan
Frequently asked questions
Does refinancing hurt my credit?
A hard inquiry causes a small temporary dip; rate shopping within 14 days usually counts once.
Can I refinance if I am upside down?
It is harder — lenders usually cap loan-to-value near 120%.
About this calculator
- Built and reviewed by James Whitfield · How we build and test calculators
- Report an error
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.