Auto refinance estimate
Auto loan refinance cost comparison
Compare estimated auto-loan payments and costs through a selected month using your current payoff quote, fixed rates, terms, and refinance fees.
Compare a current fixed-rate auto loan with a hypothetical refinance using your payoff quote and the terms of a written offer. The tool estimates payments and costs from entered assumptions; it does not predict approval or a rate.
Enter the current payoff quote and fixed-rate loan terms, a written refinance offer, fees, and a comparison period.
The model assumes fixed rates, monthly interest equal to the entered contract rate divided by 12, equal month-end payments, and no extra payments. The current scheduled payment is estimated from the payoff quote, rate, and months remaining. A cash-paid fee is added to refinance cost at month zero; a financed fee is added to the new principal. Taxes, registration, add-ons, late charges, and payoff-date interest are excluded. Actual payoff amounts, fees, payment dates, and contract terms may differ.
How to compare a refinance offer
Request a current payoff quote from your existing lender and compare it with the amount financed, rate, term, fees, payment, and total cost on a written refinance offer. This estimate treats the entered fixed contract rate as the monthly amortization rate; it is not a substitute for the disclosed APR, finance charge, or total of payments.
Refinancing pays off the existing loan in full. Your current contract and state law determine whether a prepayment penalty or fee applies, so review the agreement and ask the lender before relying on a savings estimate. A longer replacement term can lower the payment while extending repayment and changing total interest.
- CFPB: auto-loan prepayment, penalties, and refinancing
- CFPB: compare auto-loan offers beyond the monthly payment
- CFPB auto-loan tools and guidance
Sources checked November 3, 2026. The comparison models only entered fixed-rate payments and refinance fees; confirm the dated payoff quote, fees, prepayment terms, and written disclosures with the lenders.
For a purchase scenario, use the auto-loan payment and total-interest calculator. To see how a trade offer and payoff quote may change a new loan, use the vehicle trade-in equity calculator. To compare long terms, see the 72 vs. 84-month auto-loan comparison. For lease cash flows and a user-entered resale amount, see the lease vs. buy comparison.
How it works
Enter the current lender payoff quote and remaining fixed-rate term, then a written refinance offer, fees, and a comparison horizon. The tool compares monthly payments and modeled costs including the balance remaining at that horizon.
Good to know
Does refinancing always lower the total cost if the monthly payment falls?
No. A lower payment can result from extending the repayment term. Compare modeled interest, fees, and payments plus the balance still owed at a horizon that fits your plans. This estimate uses entered fixed rates and terms only.
Can the current lender charge a prepayment penalty?
Your existing contract and state law determine whether a prepayment penalty or fee applies. The CFPB says refinancing pays the original auto loan off in full, so check the agreement and ask your lender for a current payoff quote.
Does this tell me whether I qualify for the new loan?
No. This calculator does not assess approval, predict a rate, or include every fee. Compare written offers and disclosures, including APR, amount financed, finance charge, and total of payments.
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