Auto refinancing is a popular option for car owners who are looking to save money on their monthly car payments. With auto refinancing, you can replace your current car loan with a new one with more favorable terms, such as a lower interest rate or a longer repayment period. This can help you lower your monthly car payments and save money over the life of your loan.

One of the most important factors to consider when refinancing your car loan is the interest rate. The interest rate on your new car loan will determine how much you pay each month and how much you’ll pay in total over the life of the loan. To get the best auto refinance rates, you’ll need to shop around and compare rates from multiple lenders.

Here are some of the best auto refinance rates currently available:

  1. PenFed Credit Union: PenFed Credit Union offers auto refinance rates as low as 1.39% APR for up to 36 months. PenFed also offers longer repayment terms, with rates as low as 2.24% APR for up to 60 months.
  2. LightStream: LightStream offers auto refinance rates as low as 2.49% APR for up to 36 months. LightStream also offers longer repayment terms, with rates as low as 3.99% APR for up to 84 months.
  3. Bank of America: Bank of America offers auto refinance rates as low as 2.69% APR for up to 60 months. Bank of America also offers longer repayment terms, with rates as low as 3.39% APR for up to 72 months.
  4. Capital One: Capital One offers auto refinance rates as low as 2.99% APR for up to 36 months. Capital One also offers longer repayment terms, with rates as low as 3.49% APR for up to 72 months.
  5. U.S. Bank: U.S. Bank offers auto refinance rates as low as 2.49% APR for up to 48 months. U.S. Bank also offers longer repayment terms, with rates as low as 3.29% APR for up to 72 months.

It’s important to keep in mind that these rates are only available to borrowers with excellent credit. If your credit score is lower, you may still be able to refinance your car loan, but you may not be able to qualify for these low rates. It’s also important to consider other factors besides the interest rate, such as fees, repayment terms, and customer service when choosing a lender to refinance your car loan.

In conclusion, auto refinancing can be a great way to save money on your car payments, but it’s important to shop around and compare rates from multiple lenders to get the best deal. The lenders listed above offer some of the best auto refinance rates currently available, but it’s important to do your own research and choose the lender that best fits your needs and budget.