Compare your current loan with refinancing offers to see if switching makes financial sense. Calculate potential savings, break-even point, and total cost comparison.
Parameters of your current loan
Parameters of the refinancing offer
Switching Costs
Total savings over the loan period
+39 €
26 mo
-2.0%
+5.702 €
Interest rates have dropped significantly
If market rates are 1-2% lower than your current rate, refinancing could save you thousands over the loan term.
Your credit score has improved
A better credit score qualifies you for lower interest rates, even if market rates haven't changed much.
You want to change your loan term
Shorten your term to pay off faster, or extend it to lower monthly payments when needed.
You need to consolidate debt
Combine multiple high-interest debts into one lower-rate loan for simpler management and potential savings.
Important Considerations
Compare offers from multiple lenders before refinancing. Consider total costs including fees, not just the interest rate. The break-even point tells you how long until you recover switching costs.
These calculations are for informational purposes only and do not constitute financial, tax, or legal advice. Consult a qualified professional for your specific situation.