Car Loan Calculator | Refresh Financial

How much can you save on a car?

Try our calculator below to see the difference yourself. Watch your payments grow and shrink, based on your credit score.

*Interest rate

Monthly payments

Monthly interest

Trade in value

Total interest paid

Better credit will save you

Total interest paid

Savings with better credit
You qualify for the best interest rates available
Build your credit with Refresh Financial Apply Now >>

Like a loan. But backwards.

We do things differently.


Boost your credit

Every payment you make gets reported to the credit bureaus, giving you that all important positive payment history.


Build your savings

By the end of your program, you'll have a stash of cash to use however you like*.


Get financial wisdom

Become financially savvy through our financial intelligence training and Dime Turner™ blog.


Say goodbye to no

Hearing no when it comes to your finances will become a thing of the past with good credit, financial fitness, and savings up your sleeve.

How Does Your Credit Affect What You Pay For a Car?

When you have a lower credit score, lenders try to balance out the risk of giving you financing with a high-interest rate. The lower your credit score is, the higher an interest rate you'll be offered. Interest adds up over time and in some cases, you could be paying thousands more for a car over the length of your financing.

So, how do we avoid high-interest rates on our car loans? By boosting our credit as fast as we can before we go get an auto loan.


New or Used Car: Which Is The Best Option?

If you're in the market for a car, you've probably found yourself wondering the same question we all do: which is better? A new car or a used car? Which is going to cost the least in the long run?

The traditional thinking here is that buying a used car that has low mileage and is only a couple of years old is going to be your best bet. You avoid the first couple of years of severe depreciation, your insurance will cost less, and you still get the benefit of a relatively new car, avoiding excessive repair costs. And if you are unable to finance a new car due to poor credit, there is always the option to be patient while you work on your credit score.

*Savings begin to be built after paying off initial commitment fee.

I just want to say thank you for your amazing program. After 10 months of being with your program, my credit score jumped from 414 to 715 and I got approved for a $2,500 credit card from my bank. Refresh is amazing! ”

Andrew, Hamilton, ON