Home Calculators Car Loan Refinance Calculator

Car Loan Refinance Calculator

Compare your current auto loan to a new refinanced loan. See exact monthly savings, total interest saved, and break-even timeline.

Current Loan Details

Enter your existing auto loan information

Current Loan

Amount still owed on your loan

Leave 0 to auto-calculate

New Refinance Loan Details

Enter the terms of your refinance offer

New Refinance Loan

Usually same as remaining balance

Origination fee, title transfer, etc.

Monthly Savings
$--
per month
Total Interest Saved
$--
over full loan life
Break-Even Point
-- mo
months to recoup fees
New Monthly Payment
$--
vs current payment

Refinance Rules of Thumb

Rate drop worth it≥ 1% lower
Good break-evenUnder 12 mo
Loan age sweet spotEarly term
Credit score needed660+ for good rates

Avg Auto Loan Rates (2024)

Excellent credit (720+)5.5–7%
Good credit (660–719)7–11%
Fair credit (620–659)11–16%
Poor credit (<620)16%+

When Does Refinancing Make Sense?

Lower Rate

Rates dropped since you bought

Better Credit

Your score improved significantly

Dealer Markup

Dealer inflated your original rate

Lower Payment

Cash flow relief by extending term