Car Loan Refinance Break-Even Calculator
Refinancing your auto loan can lower your monthly payment or save you interest, but fees can eat into those savings. This calculator compares your current loan to a new offer and shows exactly when the refinance pays for itself.
About this calculator
Find out how many months it takes for a car loan refinance to pay for itself, and how much interest you'll save over the life of the new loan.
Frequently Asked Questions
What counts as a good break-even period?
Generally, if you'll keep the car longer than the break-even period, refinancing makes financial sense. Under 12 months is considered excellent.
Does this include taxes or title fees?
No, only the refinance fees you enter. Add any additional lender or state fees to that field for accuracy.
What if my new term is longer than my remaining term?
A longer term can lower your payment but may increase total interest paid — check the 'Total Lifetime Savings' figure to see the real impact.