Car Loan Calculator
Estimate your monthly car payment, total interest, and the all-in cost of the vehicle.
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Auto Refinance Calculator
Enter your current auto loan and a new rate to see your new payment, monthly savings, and how fast any fees pay for themselves.
Your numbers
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Calculated entirely on your device — never transmitted or stored.
View mathematical formula & assumptions
The new payment uses the same standard loan formula, applied to your current balance at the new rate:
M = P × [r(1 + r)n] / [(1 + r)n − 1]
Break-even point is simply:
Break-even = Fees ÷ Monthly savings
M — new monthly payment
P — current loan balance
r — new monthly interest rate (new annual rate ÷ 12)
n — total number of monthly payments in the new term
How this is different from our Car Loan Calculator
The Car Loan Calculator is for financing a car you're about to buy. This one is for a loan you already have — refinancing replaces your current auto loan with a new one, ideally at a lower rate, without changing which car you drive.
Why auto refinancing tends to be simpler than a mortgage refinance
Unlike a home refinance, auto refinancing usually carries little or no closing costs — often just a small title/administrative fee. That means the break-even point (the time it takes for your monthly savings to cover any fees) is typically measured in months, not years.
When it tends to make sense
- Your credit improved since you took out the original loan, qualifying you for a meaningfully better rate.
- Rates have dropped since you financed, even by a couple of points.
- You want a lower payment, even if it means a slightly longer payoff — worth checking the total interest either way.
One thing to watch: stretching the remaining balance over a longer term can lower your monthly payment while quietly increasing total interest paid. Compare both the payment and the full cost before deciding.
This schedule is for your new loan after refinancing — not your current one.