Step 1: Enter the current balance
Use the principal balance that remains today, not the original amount borrowed.
Auto loan refinance calculator
2026 auto loan refinance calculator.
Compare your current car payment with a new APR, term, and refinance fee estimate before applying.
Formula shown
Front-end only
Approval not estimated
Updated August 13, 2026
Amortization preview
Your refinanced loan, month by month.
Preview the first year or expand the schedule to see how the new APR and term change principal and interest over time.
First payment
$0
Principal in first payment
$0
Interest in first payment
$0
Payoff
48 months
On small screens, swipe the table sideways to see every column.
| Month | Payment | Principal | Interest | Balance |
|---|
Direct answer
How an auto loan refinance calculator works.
A refinance calculator compares the payments and remaining cost of your current loan with a new loan based on the balance, APR, term, and fees you enter.
A lower monthly payment does not automatically mean lower total cost. A longer new term can reduce the payment while giving interest more time to accrue. Compare both monthly cash flow and total future payments.
Calculation steps
Refinance estimate, step by step.
Step 2: Calculate the current payment
The calculator applies the current APR and remaining term to estimate the payment and remaining interest.
Step 3: Add financed refinance fees
Fees rolled into the new loan increase the new amount financed. Fees paid upfront are not included unless you enter them as financed.
Step 4: Apply the new APR and term
The new APR and term determine the refinanced payment, total interest, and payoff schedule.
Step 5: Compare the time horizon
Use the estimated fee break-even and total savings together. A refinance may not help if you sell the vehicle or pay off the loan before the savings arrive.
Key definitions
Terms used in the refinance estimate.
- Current loan balance:
- The principal amount still owed on the existing auto loan.
- Remaining term:
- The number of scheduled payments left on the current loan.
- New APR:
- The annual percentage rate used to estimate the proposed refinance loan.
- Refinance fees:
- Costs that are added to the new loan when they are financed.
- Fee break-even:
- An approximate month when payment savings equal financed refinance fees.
Formula source
Why the payment estimate is transparent.
M = P x r(1+r)n / ((1+r)n - 1)
M is the monthly payment, P is the loan balance, r is the monthly interest rate, and n is the number of payments.
The calculator uses this standard fixed-rate amortization formula twice: once for the remaining current loan and once for the proposed refinance loan. It assumes scheduled payments and does not model late payments, skipped payments, variable rates, or lender-specific fees.
Worked example
What the default refinance estimate means.
With a $25,000 current balance, 8.5% APR, and 48 months remaining, the current payment is about $616 per month.
Refinancing $25,500 after adding $500 in financed fees at 6.25% APR for 48 months produces an estimated payment of about $602 per month.
| Current payment | $616/mo |
|---|---|
| Refinanced payment | $602/mo |
| Monthly difference | -$14/mo |
| Estimated total savings | +$692 |
| Estimated fee break-even | 35 months |
This example is illustrative. Actual offers depend on lender underwriting, credit, vehicle details, fees, and the contract.
Methodology
What this estimate includes.
Current loan comparison
The current payment and remaining interest are estimated from the balance, current APR, and remaining term you enter.
Refinanced loan comparison
The new loan starts with the current balance plus any refinance fees marked as financed, then applies the new APR and term.
What is not included
Credit score, approval odds, lender minimums, title fees, taxes, prepayment penalties, insurance, maintenance, and any costs not entered by you.
How to use the result
Compare several real lender offers and confirm the payoff amount, APR, fees, term, and total of payments before accepting a refinance.
FAQ
Auto loan refinance questions.
Is refinancing a car loan worth it?
It may be worth considering when the new APR lowers the remaining cost after fees and you expect to keep the loan long enough to reach the estimated break-even point. Compare total future payments, not only the monthly payment.
Can refinancing lower my car payment?
A lower APR or a longer new term can lower the monthly payment. Extending the term can also increase total interest, so review both outputs.
Does this refinance calculator include fees?
Yes. Enter fees that will be financed into the new loan. If you pay the fees upfront, enter zero and treat the upfront amount as a separate cash cost.
Will refinancing always save money?
No. A higher APR, financed fees, or a longer term can reduce or eliminate savings. The total savings result compares the remaining current payments with the new scheduled payments.
Does refinancing change my loan term?
It can. Enter the proposed new term to compare a shorter payoff schedule, the same term, or a longer term. A shorter term may raise the monthly payment while reducing total interest.
Does this calculator show whether I will be approved?
No. Approval and actual terms depend on credit, income, vehicle details, loan-to-value, lender rules, and other underwriting factors.