FINANCING PLANNING TOOL

Refinance calculator

Look beyond the new monthly payment.

Compare the existing obligation with a proposed replacement. A lower payment may improve near-term cash flow while extending the repayment period or increasing the total amount paid.

Use the calculator ↗

Mehmi Financial Group

Refinance Calculator

Determine if refinancing makes financial sense. Compare loan and lease structures, calculate true savings, and access equity.

Loan Refinance Comparison

Compare your current loan to a new refinanced loan. See the monthly savings, total interest savings, and whether refinancing makes sense for your situation.

Monthly Payment Savings

Enter loan details to compare

Current Loan

Remaining Balance Current APR (%) Remaining Term (Months)

New Loan

New Loan Amount New APR (%) New Term (Months)

Side-by-Side Comparison

Monthly Payment—

Total Interest—

Total Cost—

Payoff—

Monthly Payment—

Total Interest—

Total Cost—

Payoff—

Savings Summary

Monthly Savings

Interest Savings

Rate Reduction

0 mo

Term Change

Rate Drop: Generally worth refinancing if rates have dropped 1%+ since your original loan.

Improved Credit: Better business credit may now qualify you for a lower rate.

Cash Flow Needs: Extend the term to lower monthly payments if cash flow is tight.

Prepayment Penalties: Check if your current loan has early payoff fees — these erode savings.

Closing Costs: Factor in origination and legal fees on the new loan before committing.

Time Remaining: Refinancing makes less sense if you're within 12 months of payoff.

Lease Refinance Comparison

Compare your current equipment lease to a new lease structure. See the monthly savings, total cost difference, and whether restructuring your lease makes sense.

Monthly Payment Savings

Enter lease details to compare

Current Lease

Remaining Cap Cost Current APR (%) Remaining Term (Months) Current Residual ($)

New Lease

New Cap Cost Down Payment ($) New APR (%) New Term (Months) Advance Payments Residual Type Residual (%) Residual ($)

Side-by-Side Comparison

Monthly Payment—

Total Payments—

Total Interest—

Residual—

All-In Cost—

Monthly Payment—

Total Payments—

Total Interest—

Residual—

All-In Cost—

Calculating…

Savings Summary

Monthly Savings

Interest Savings

Rate Reduction

All-In Savings

Rate Drop: If market rates have fallen since your original lease, a new money factor can meaningfully reduce monthly payments on trucks and heavy equipment.

Term Extension: Restructuring into a longer term can lower payments and free up cash flow for operations or growth.

Residual Adjustment: Changing the residual value at end of term can shift the payment structure to better fit your buyout or return plans.

Early Termination Fees: Most equipment leases carry penalties for early exit — get the buyout figure from your current lessor before proceeding.

Equipment Condition: Lenders will assess the current fair market value of the equipment, which affects the new cap cost and approval terms.

CCA Impact: Switching lease structures mid-term may affect your Capital Cost Allowance deductions for the tax year — consult your accountant.

*All amounts in Canadian dollars. Estimates only—this is not a financing offer or approval. Taxes (GST/PST/HST) NOT included.

Start with consistent inputs.

Prepare your figures

Use current records and one measurement period.

Current settlement amount and remaining payments
New rate, term and proposed financing amount
Discharge costs, fees and any cash released

Test a second scenario

Change one important assumption at a time.

Keep the remaining inputs comparable.
Try a less favourable case as well as the expected case.
Save the assumptions alongside the estimate.

Check the scope

Read the tool’s labels and exclusions.

Confirm the currency and time period.
Check whether tax, fees or deposits are included.
Use the actual proposal when it becomes available.

What the result can—and cannot—tell you.

Use a current payout statement, not only the statement balance.
Compare all remaining costs against all new costs.
Consider whether the asset’s remaining useful life supports the new term.

This tool provides an illustration using the inputs and calculation method shown. It is not a financing offer, approval, valuation or individualized tax advice. Actual agreements, timing and costs may differ.

Questions, answered.

Does this result mean I qualify for financing?

No. The calculator uses the figures supplied; it does not review an application or determine eligibility. Approval, pricing and conditions require a separate review.

Can I use the result as a quote?

No. Treat it as a planning illustration. A written financing proposal may use different assumptions, fees, payment dates or product terms.

Which currency should I use?

Follow any currency stated in the calculator and use the same currency for every input. The tool does not establish an exchange rate or convert a Canadian estimate into a U.S. quote.

Are tax and fees included?

Only rely on items explicitly included by the tool. Check upfront fees, deposits, taxes and end-of-term amounts separately. Tax assumptions should be reviewed with a qualified adviser for the applicable jurisdiction.

Why might two calculators give different answers?

Definitions, compounding, payment timing, rounding and included costs can differ. Compare the assumptions and calculation method before comparing the result.

What should I do after estimating?

Save the assumptions and compare the result with current records or a written proposal. If you are exploring financing, share your business location, purpose and amount requested with Mehmi.

Discuss the next step.

Use the estimate to explain your business requirement and the assumptions you want to review.

Apply for financing ↗

Financing is subject to application review and approval. Availability, costs, terms and documentation vary by business, product and location. This page provides general information and is not a financing offer.