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Auto Refinance Calculator

See how much an auto loan refinance saves you each month and over the remaining term.

Instant results Private — runs in your browser Updated January 1970

Inputs

Current loan balance

Current interest rate

Current monthly payment

New interest rate

New loan term (years)

Closing costs

Monthly increase

$41.73

New payment: $521.73

New payment

$521.73

Break-even

Never

When savings cover closing costs

Lifetime savings

$2,394.73

Old loan payoff

58 months

Final payment $77.72

Interest — current loan

$5,437.72

Interest — new loan

$3,042.99

Amortization schedule

#	Payment	Principal	Interest	Balance
1	$521.73	$402.56	$119.17	$21,597.44
2	$521.73	$404.74	$116.99	$21,192.69
3	$521.73	$406.94	$114.79	$20,785.76
4	$521.73	$409.14	$112.59	$20,376.62
5	$521.73	$411.36	$110.37	$19,965.26
6	$521.73	$413.58	$108.15	$19,551.68
7	$521.73	$415.82	$105.90	$19,135.86
8	$521.73	$418.08	$103.65	$18,717.78
9	$521.73	$420.34	$101.39	$18,297.44
10	$521.73	$422.62	$99.11	$17,874.82
11	$521.73	$424.91	$96.82	$17,449.91
12	$521.73	$427.21	$94.52	$17,022.71
13	$521.73	$429.52	$92.21	$16,593.18
14	$521.73	$431.85	$89.88	$16,161.33
15	$521.73	$434.19	$87.54	$15,727.15
16	$521.73	$436.54	$85.19	$15,290.61
17	$521.73	$438.90	$82.82	$14,851.70
18	$521.73	$441.28	$80.45	$14,410.42
19	$521.73	$443.67	$78.06	$13,966.75
20	$521.73	$446.08	$75.65	$13,520.67
21	$521.73	$448.49	$73.24	$13,072.18
22	$521.73	$450.92	$70.81	$12,621.26
23	$521.73	$453.36	$68.37	$12,167.89
24	$521.73	$455.82	$65.91	$11,712.07
25	$521.73	$458.29	$63.44	$11,253.78
26	$521.73	$460.77	$60.96	$10,793.01
27	$521.73	$463.27	$58.46	$10,329.75
28	$521.73	$465.78	$55.95	$9,863.97
29	$521.73	$468.30	$53.43	$9,395.67
30	$521.73	$470.84	$50.89	$8,924.84
31	$521.73	$473.39	$48.34	$8,451.45
32	$521.73	$475.95	$45.78	$7,975.50
33	$521.73	$478.53	$43.20	$7,496.97
34	$521.73	$481.12	$40.61	$7,015.85
35	$521.73	$483.73	$38.00	$6,532.12
36	$521.73	$486.35	$35.38	$6,045.78
37	$521.73	$488.98	$32.75	$5,556.80
38	$521.73	$491.63	$30.10	$5,065.17
39	$521.73	$494.29	$27.44	$4,570.87
40	$521.73	$496.97	$24.76	$4,073.90
41	$521.73	$499.66	$22.07	$3,574.24
42	$521.73	$502.37	$19.36	$3,071.87
43	$521.73	$505.09	$16.64	$2,566.78
44	$521.73	$507.83	$13.90	$2,058.96
45	$521.73	$510.58	$11.15	$1,548.38
46	$521.73	$513.34	$8.39	$1,035.04
47	$521.73	$516.12	$5.61	$518.92
48	$521.73	$518.92	$2.81	$0.00

How it works

We amortize your current loan month by month at its rate and payment until the balance reaches zero — the final month charges only the remaining balance plus that month's interest, so no phantom full payment is added. The new loan is amortized the same way at the new rate and term.

Lifetime savings = current loan's remaining interest − new loan's total interest − closing costs. Break-even = closing costs ÷ monthly savings, which depends only on the payment difference.

Frequently asked questions

When does refinancing make sense?

Refinancing usually pays off when the new rate is at least 0.5–1 percentage point lower than your current rate and you'll stay in the loan past the break-even point.

What's the break-even point?

It's the month when cumulative monthly savings equal your closing costs. Past that month, refinancing saves you money on net.

How is my remaining term worked out?

You aren't asked for it — we amortize your current balance at your current rate and payment month by month until the balance hits zero. The last month is a smaller true-up payment, not a full one.

Does a longer new term help?

A longer term reduces the monthly payment but increases lifetime interest, so it can mask a refinance that doesn't actually save money over time.

Are there other costs to refinancing?

Yes — title, lien recording, and lender fees. Include them in 'closing costs' for a realistic picture.