Auto Loan Refinance Calculator
See how much you could save per month — and over the life of the loan — by refinancing.
Should I refinance my car loan?
Refinancing helps when a lower APR beats your switching fees soon enough that you keep the car past break-even. On a $19,000 balance with 48 months left, dropping from 9.5% to 6.2% cuts the payment about $29 a month; after $200 in fees you net roughly $1,210 over the loan and recover the fees in about 7 months.
Your numbers
Monthly savings
$29.38
Net savings after fees
$1,210
over 48 months
Break-even
7
months to recover fees
Insight — Refinancing pays off once your monthly savings have covered the switching fees — that's the break-even. If you'll keep the car well past that point (and your credit has improved or rates dropped), it's usually worth it.
Data behind the defaults
- 7.47%·Editorial estimate· as of 2026-07-17· medium confidence
These defaults are starting points from the sources above — every field is editable, and results are estimates, not quotes. All data sources →
What if New APR changes?
| New APR | Monthly savings |
|---|---|
| 3% | $56.79 |
| 4% | $48.34 |
| 5% | $39.78 |
| 6% | $31.12 |
| 7% | $22.36 |
See if refinancing is worth it
If your credit improved or rates dropped, a lower payment may be on the table. Run the numbers first.
Open the refinance toolFree · No sign-up · Independent, source-based math
How this calculator works
The calculator keeps your remaining balance and months the same, then re-amortizes that balance at both your current APR and the new APR offered. The difference between the two monthly payments is your monthly saving. It multiplies that saving across the months you have left, subtracts the refinance fees, and shows the net lifetime saving. It also divides the fees by the monthly saving to find your break-even — the number of months before the new loan starts genuinely putting money back in your pocket.
Formula
Monthly saving = payment(balance, current APR, months) − payment(balance, new APR, months). Net saving = monthly saving × months − fees. Break-even months = fees ÷ monthly saving, where each payment uses standard amortization at monthly rate = APR ÷ 12.
Worked example
$19,000 balance, 48 months left. At 9.5% the payment is about $477; at 6.2% it is about $448 — a $29 monthly saving. Over 48 months that is roughly $1,410, minus $200 in fees leaves about $1,210 net. Break-even = $200 ÷ $29 ≈ 7 months, so anything past month 7 is savings.
What affects your result
- →The gap between your current APR and the new APR offered
- →Remaining balance — a bigger balance magnifies the same rate drop
- →Months remaining — more months left means more months to save
- →Refinance fees (title, lien and lender costs), which set your break-even
- →Whether you keep the car past the break-even point
What this estimate includes
- ✓Monthly payment savings at the new APR
- ✓Net lifetime savings after refinance fees
- ✓Break-even in months to recover the fees
- ✓Side-by-side current and new payment
What it does not include
- ×Any change to the loan term or extending the payoff date
- ×Prepayment penalties on your current loan
- ×Credit-score-based pricing — it uses the new APR you enter
- ×It assumes the same balance and months on both loans, not a longer new term
Good to know
Clear, practical answers about the auto refinance calculator.
When is refinancing a car loan worth it?＋
Typically when your credit score has improved, market rates have fallen, or you were sold a high dealer rate. The calculator shows your break-even instantly — if monthly savings are meaningful and you'll keep the car, it usually pays off.
Does refinancing hurt my credit?＋
Checking pre-qualified rates is a soft pull with no impact. A hard inquiry only happens when you formally apply, and the small short-term dip is usually outweighed by the interest you save.
🔗 Embed this calculator on your site (free)＋
One line adds the live auto refinance calculatorto your page. It auto-resizes to fit (no scrollbars) and shows a small “Calculator by MotorCrunch” credit — keeping that link is the only condition of use.
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