Auto Loan Calculators
Auto Refinance Calculator
Compare your current car loan with a refinance offer to see the change in payment and the total interest saved.
Monthly saving
$30.17
- New payment
- $492.82
- Total interest saved
- $1,017
- Break-even
- 9 months
How this calculator works
Compare the two amortisation schedules and net off any refinance fees
- break-even
- fees divided by the monthly saving
Example calculation
Illustrative example — not advice
Worked example — the auto refinance calculator as it loads, using the default figures below.
- 01Enter current balance: $18,500.
- 02Enter current rate: 9.9%.
- 03Enter months remaining: 42.
- 04Enter new rate: 6.4%.
- 05Enter new term in months: 42.
- 06Enter refinance fees: $250.
- 07Read the monthly saving from the results panel: $30.17.
Monthly saving: $30.17. New payment: $492.82. Total interest saved: $1,017. Break-even: 9 months.
These figures come straight from the calculator above running on the values listed, so you can retype them and confirm every number yourself. Change any input and the results update immediately. Illustrative only — not a quote, offer or recommendation.
Important considerations
- Extending the term lowers the payment but can raise total interest.
- Negative equity may prevent refinancing at the advertised rate.
Related calculators
- Auto Loan CalculatorMonthly vehicle payment after deposit, trade-in, tax and fees.
- Auto Loan Payoff CalculatorEarly payoff date and interest saved.
- Car Affordability CalculatorThe car price a monthly budget supports.
- Mortgage Refinance CalculatorMonthly saving and break-even point on a refinance.
- Lease vs Buy CalculatorTotal cost of leasing against buying.
- Car Depreciation CalculatorVehicle value year by year.
Terms used here
Frequently asked questions
When is refinancing worthwhile?
When the rate drop is meaningful, the term is not stretched much, and you keep the car past the break-even point.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01