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Car Loan Refinance Calculator

Calculate your monthly car repayment savings from refinancing your car loan with our trusted tool.
Updated 18 June 2026​
  • Car loans can be expensive - refinancing can save a lot per month and help you repay the balance faster.
  • Our calculator shows you in seconds how much you can save.
  • To use the calculator, enter your current car loan balance, loan terms remaining (i.e. number of months) and the current interest rate. You then will enter in the refinanced amount, the loan term and interest rate.
  • The calculator will show your new payment, monthly savings (i.e. current loan vs refinanced car loan) and display your current/original payment.
  • You can click on Best Car Refinance Deals to see the latest offers.

June Alert: Simplify Slashes Rates - now from 7.25% p.a.
For borrowers with decent credit and affordability (we believe if you're reading and comparing on MoneyHub, there's a greater chance that's you), Simplify just dropped its rates to the lowest we've seen in some time:
  • From 7.25% p.a. for new Toyota and Ford vehicles
  • From 7.25% p.a. for all other vehicles

Many readers checking multiple lenders and reading guides already have the credit profile these rates require - you can confirm this in 1-2 minutes using Simplify.
How to Use Our Refinance Car Loan Calculator​
  • Enter your current loan details on the left side: the balance still owing (check your most recent statement), the months remaining on the loan, and your current interest rate.
  • Then enter the proposed refinance terms on the right: the new loan amount (usually matches your current balance owing), the new term, and the new interest rate the lender is offering.
  • Add the establishment fees the new lender will charge (typically $200-$510 in NZ), and the calculator updates in real time.

​Know This: The verdict panel tells you whether refinancing makes financial sense given the fees. The summary cards at the bottom show your monthly savings, total interest savings after fees, and the break-even point (how many months until the monthly savings have paid back the establishment fees).

Refinance Car Loan Calculator

Compare your current car loan against a refinanced one and see whether the savings outweigh the fees.

Current loan
Monthly payment $683.55
Total interest left $4,608
Total to repay $24,608
vs
Refinanced loan
Monthly payment $626.73
Total interest $2,562
Total to repay $22,562
NZ car loan establishment fees typically range from $200 to $510. Some lenders also charge a $7-8 PPSR registration fee. Check your new lender's fee schedule before committing.
✓
Refinancing makes financial sense After $300 in establishment fees, you'd save $1,746 over the life of the loan and reduce your monthly payment by $57.
Monthly savings $57
Net interest savings $1,746 After fees
Break-even point 5 months
Disclaimer: This is a guide using standard assumptions to estimate your monthly car loan repayment cost. It excludes late fees, early repayment fees, account management fees and penalty interest for late repayments. It also excludes security registration and release charges (standard with some car finance companies). Before refinancing any car loan, ask the lender for the total cost of the borrowing and compare this to your existing loan agreement. 

This calculator assumes interest rates are fixed - some car finance companies offer floating interest rates.
Christopher Walsh
MoneyHub Founder
​MoneyHub's Top Car Finance Options - Avoid high interest rates and fees with our trusted lenders.
  • We focus on highlighting the top car finance options to help you avoid costly high interest rates and unnecessary fees that add up too quickly. Our extensive research has consistently highlighted two trusted lenders who offer fair, competitive interest rates for most borrowers.
  • Simplify – A dedicated car loan specialist, Simplify has built a strong reputation for offering some of the most competitive rates and terms in the market. We've named them our Favourite Car Loan Lender for their customer-focused approach and proven ability to get New Zealanders into cars with great finance deals. 
  • Harmoney – If you prefer a low-fee personal lender with an easy, fully online process, Harmoney is a great option for secured car loans. Their streamlined application can help you secure a loan quickly and efficiently.
  • Why Compare? Comparing car finance options can save you thousands. Even a 1% lower interest rate can significantly reduce your repayments. While dealership financing might seem convenient, it often comes with higher costs to boost their profits. By exploring different lenders and brokers (such as Simplify and Harmoney), you can secure a better deal, avoid unnecessary markups, and ensure you're not overpaying for your car.
  • Important: The interest rate you lock in now will impact your repayments for years to come, so choose wisely and compare before committing.
  • Advertising Disclosure: We may receive a commission if you proceed with a loan through our partners. However, this does not influence our recommendations, and all lenders are thoroughly vetted for fairness. Rates vary based on individual credit profiles.

Current Car Refinance and Lending Offers

Know this first:
  • The repayment amounts exclude any upfront fees and/or ongoing fees a lender may charge.
  • The interest rates below represent each lender's lowest rate. This is not necessarily the rate you will receive, and for this reason, we suggest considering your options carefully.

Enter your loan details

Repayment frequency
Important: Calculations use the standard amortisation formula and reflect the interest rate only. Establishment fees, monthly account fees, and other lender charges are not included and may apply on top of these figures. Interest rates shown are advertised rates and may vary based on your credit profile, the loan amount, and the asset being financed. Always confirm current rates and fees directly with the lender before applying.
Warning - add-on Insurances: Some car lenders may offer you Mechanical Breakdown Insurance (MBI) and/or Guaranteed Asset Protection Insurance (GAP) when you refinance a car loan. We do not believe these policies offer value-for-money or cost-effective protection for most people. Our guides to both of these insurance options explain what you need to know. You may be encouraged to buy MBI and/or GAP insurance, but they are not compulsory with any car loan. Our view is that buying add-on insurance makes a car loan more expensive.

Important: If you have a history of bad credit, please visit our dedicated Bad Credit Car Loans guide for specific guidance.
  • If you are thinking about getting a guarantor on a car loan, our Car Loan Guarantors guide outlines what you need to know.
  • Bad credit car loans are expensive - this extensive American guide is referenced in many MoneyHub guides and details the severe risks borrowers face. The website also covers bad credit car loan refinance. Please proceed with caution, as the interest rates can easily create financial hardship.

June Alert: Simplify Slashes Rates - now from 7.25% p.a.
For borrowers with decent credit and affordability (we believe if you're reading and comparing on MoneyHub, there's a greater chance that's you), Simplify just dropped its rates to the lowest we've seen in some time:
  • From 7.25% p.a. for new Toyota and Ford vehicles
  • From 7.25% p.a. for all other vehicles

Many readers checking multiple lenders and reading guides already have the credit profile these rates require - you can confirm this in 1-2 minutes using Simplify

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