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Truck refinance savings calculator

By Fernandez · Updated October 2026

Check whether refinancing your truck loan saves money once fees and penalties are counted.

$
%
mo
%
EXAMPLE default
mo
$
$

Payment change per month

-$278

Total saved over the rest of the loan

$615

Fees paid back in

5 mo

  • Keep the loan: remaining payments$88,945
  • Refinance: new payments incl. fees$88,330

The new term is longer than what is left, so a lower payment can still cost more in total. Fees and penalties are financed into the new loan here. Not financial advice; quotes are subject to approval, check current terms.

Whatever the loan, the truck still has to earn $1,840 a month. Our dispatchers keep it loaded.

Our dispatchers find and negotiate the loads; you approve each one and sign the rate con. 5% of gross for one truck with an MC 6 months or older, no setup fee.

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How the savings are calculated

  • Current payment comes from your balance, current APR and months left.
  • New payment comes from your balance plus refinance fees and any prepayment penalty, at the new APR and term.
  • Total saved = current payment x months left - new payment x new term.
  • Breakeven = (fees + penalty) / monthly payment savings.

Worked example

Keep the loanRefinance
Balance$70,000$71,200 incl. fees
APR14%11%
Months4248
Paymentabout $2,120about $1,840
Total remainingabout $88,950about $88,330

EXAMPLE figures. Here the payment drops about $280 a month, but the total falls only about $600 once fees and six extra months are counted. Stretch the new term to 60 months and the total would rise. The calculator shows that trade plainly.

Reading your result

A refinance that lowers both the payment and the total cost is a clear win, as long as you keep the truck past the breakeven month. A lower payment with a higher total can still be the right call when cash is tight in a slow market, but know what it costs. A higher payment with a lower total, from a shorter term, builds equity faster if the truck earns enough to carry it.

Read refinance a semi truck loan for the questions to ask lenders, and compare rate quotes with what the commercial truck financing rates guide says about how rates are set.

Before you call a lender

Have your current loan statement, payoff amount and any prepayment terms in hand, plus the truck's year, make, mileage and VIN. Lenders price a refinance on the truck as much as on you, so an older, high-mileage truck may get shorter terms. Ask each lender for the APR, the term, every fee and whether there is a balloon, all in writing, and run each quote through the calculator the same way.

Related calculators

Start a new loan from scratch with the semi truck payment calculator, or see how a deduction schedule looks with the truck depreciation calculator.

General information about financing, leasing and tax, not financial, tax or legal advice. RigCaptain is not a lender, broker, dealer or insurer. Read every contract and ask a tax professional or attorney about your own deal.

A lower payment is easier with steady loads

Savings on the note go further when the weeks are full. A dispatcher calls you back about your lanes.

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Questions

When does commercial truck refinancing make sense?
When the new loan costs less in total, including fees and any prepayment penalty, or when a lower payment is worth a higher total cost to get through a hard stretch. The calculator shows both numbers. If the payment drops but the total rises, you are buying time, not saving money, and that is worth knowing before you sign.
Does semi truck refinancing lower my payment?
Often, because a lower rate or a longer term reduces the monthly amount. A longer term usually raises the total interest, though, and keeps you owing more than the truck is worth for longer. Compare the total remaining cost both ways, not just the payment, before you decide.
What fees come with a semi truck refinance?
Lenders may charge origination or documentation fees and title and lien fees, and your current loan may carry a prepayment penalty. Ask for every fee in writing before you agree. The calculator adds fees and penalties to the new loan amount, which is how many truck refinances are structured.
Can I refinance a truck with bad credit?
Some lenders refinance borrowers with weaker credit, usually at higher rates, so the savings may be small or even negative. Run any quote through the calculator before agreeing. Lender requirements change and every approval is subject to their review, so check current terms directly with the lender.
How long until refinance fees pay for themselves?
Divide the fees and penalty by the monthly payment savings. That is the breakeven month shown in the calculator. If you plan to sell the truck or pay it off before that month, the refinance may cost more than it saves, even with a lower rate.
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