Auto Refinance Calculator

What this calculator estimates

Compare an existing auto loan with a proposed refinance offer.

How to use it

Enter Current balance ($); Current APR (%); Months remaining; New APR (%); New term (months); Refinance fees ($). Select Calculate to update the results.

How the calculation works

Calculate the current payment from the outstanding balance, current APR and remaining months. Calculate the replacement payment on balance plus financed fees, using the new APR and term. Monthly savings equal current payment minus replacement payment. The total-payment comparison subtracts replacement payment × new months from current payment × remaining months.

Worked example: starting scenario

Important limitations

Fees are financed rather than paid upfront. Total-payment savings include those fees and can be negative even when the monthly payment falls. The model excludes prepayment charges, cash-out borrowing, add-on products and variable rates.