Auto Refinance Services

Lower Your Monthly Car Payment Today

Refinancing your auto loan is one of the fastest ways to reduce your monthly payment, lower your interest rate, or adjust your loan terms. At Car Refinance, we make the entire process simple, fast, and stress-free.

Auto refinancing is the process of replacing your current car loan with a new one, typically to obtain better terms such as a lower interest rate, a reduced monthly payment, or a different loan term.

Why Refinance Your Auto Loan?

01
Get a Lower Interest Rate

If interest rates have dropped or your credit has improved, refinancing can help you secure a better rate and reduce what you pay over time.

02
Lower Your Monthly Payment

Stretch your term or take advantage of a lower rate to free up money in your monthly budget.

03
Pay Off Your Loan Faster

Choose a shorter term and save on interest so you own your car sooner.

04
Improve Your Financial Flexibility

Refinancing can give you more room in your budget by adjusting your payment schedule or total loan cost.

Ready to Refinance Your Car?

Click below to start your free pre-qualification—no credit impact.

Click Here to Start
iStock-149124427(1)
Cheerful man using laptop at home with dog on lap looking on a screen
Auto Refinance Services

Most lenders won't refinance a vehicle that is older than 10 years old or greater than 140,000 miles. It must be 2010 or newer.

Bad credit doesn’t automatically exclude you from the potential financial advantages of refinancing. It depends on the amount of money a lender would be willing to lend you. Since the loan is secured with the vehicle, having a car that’s worth more than you owe is an advantage. If you are upside down on your car loan and you have bad credit, you’ll find it particularly challenging to refinance your auto loan with better terms. In this case, you could pay down your existing loan with cash to bring the debt in line with the value of your car.

You may have been required to include a cosigner when you applied for your original loan to make up for a low credit score. Your cosigner bears equal legal responsibility for the debt, so they may want to be removed from the loan at some point. There are several ways to remove a cosigner from your loan and refinancing is one. If you can qualify for a new loan under just your name, your new lender will pay off the original loan, which releases the cosigner from their responsibility to pay back the loan if you stop making payments.

When you refinance your current auto loan, your new lender will pay off the balance of your original loan. To secure the new loan, you’ll need to qualify, much like you did for your original auto loan. If you can qualify for a loan with a lower interest rate, you could save money over the life of your auto loan. It may also lower your monthly bill, assuming you stay at the same or longer term.