Best of

Top Auto Loan Refinancing Lenders

What is auto loan refinancing, and where is the best place to apply?

NerdWallet
By
Last updated on February 16, 2024
Edited by
✅ Fact checked and reviewed
Julie Myhre-Nunes
Edited by
✅ Fact checked and reviewed

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Top Auto Loan Refinancing Lenders

Lender
NerdWallet Rating
Est. APR
Loan amount
Min. credit score
Learn more
RefiJet

RefiJet - Refinance loan

Learn more
on RefiJet's website
on RefiJet's website
Best for Refinancing through loan aggregators

5.29-21.99%

$5,000-$100,000

580

Learn more
on RefiJet's website
on RefiJet's website
MyAutoloan

MyAutoloan - Refinance loan

Learn more
on MyAutoloan's website
on MyAutoloan's website
5.0
/5
Best for Refinancing through loan aggregators

5.24-29.90%

$5,000-$100,000

575

Learn more
on MyAutoloan's website
on MyAutoloan's website
Caribou

Caribou - Refinance loan

Learn more
on Caribou's website
on Caribou's website
4.0
/5
Best for Refinancing through loan aggregators

5.99-28.55%

$5,000-$125,000

640

Learn more
on Caribou's website
on Caribou's website
LendingClub

LendingClub - Refinance loan

Learn more
on LendingClub's website
on LendingClub's website
4.0
/5
Best for Refinancing with direct lenders

5.99-24.99%

$4,000-$55,000

660

Learn more
on LendingClub's website
on LendingClub's website
Gravity Lending - Refinance loan

Gravity Lending - Refinance loan

Learn more
on Gravity Lending's website
on Gravity Lending's website
4.5
/5
Best for Refinancing through loan aggregators

5.99-17.99%

$10,000-$200,000

580

Learn more
on Gravity Lending's website
on Gravity Lending's website

Our pick for

Refinancing through loan aggregators

Aggregators connect prospective borrowers with a network of auto lenders, usually resulting in more than one loan offer. We evaluate them using different criteria than direct lenders.

RefiJet
Learn more
on RefiJet's website
on RefiJet's website
RefiJet

RefiJet - Refinance loan

4.0
Est. APR

5.29-21.99%

Loan amount

$5,000-$100,000

Min. credit score

580

Key factsBest for applicants wanting a loan representative’s help with the refinancing process from beginning to end.
Pros
  • Offers pre-qualification with a soft credit check.
  • Fully online application available for applicants who prefer it.
  • Some network lenders offer rate discount with automatic payment.
  • Customer service available on Saturday.
  • Provides Spanish version of website.
Cons
  • Charges an origination fee of up to $495.
Qualifications
  • Minimum annual gross income: No minimum.
  • Maximum debt-to-income ratio: 70%.
  • No open or discharged bankruptcies in last 12 months.
  • Maximum mileage: 150,000.
  • Maximum loan to value ratio: 160%.
Read Full Review
MyAutoloan
Learn more
on MyAutoloan's website
on MyAutoloan's website
MyAutoloan

MyAutoloan - Refinance loan

Est. APR

5.24-29.90%

Loan amount

$5,000-$100,000

Min. credit score

575

Key factsBest for applicants wanting to quickly receive auto refinance loan offers from multiple lenders. Bad and fair-credit borrowers may qualify.
Pros
  • Applicants can receive up to four lender matches with a soft credit check.
  • Most lenders can provide approval within 30 seconds of application submission.
  • Provides lowest daily rates on site, including auto refinance loans.
  • Funds to pay off previous lender usually available within 24 hours.
  • Allows co-signers.
Cons
  • May result in multiple contacts from different lenders.
  • Social Security number required to submit initial application.
  • myAutoloan.com offers limited customer service support.
  • Not available in a few states.
Qualifications
  • Minimum annual gross income: $21,600.
  • Maximum debt-to-income ratio: Not provided.
  • Bankruptcy-related restrictions: Bankruptcy must be discharged or dismissed.
  • Maximum mileage: 125,000.
  • Maximum loan to value ratio: Not provided.
Caribou
Learn more
on Caribou's website
on Caribou's website
Caribou

Caribou - Refinance loan

Est. APR

5.99-28.55%

Loan amount

$5,000-$125,000

Min. credit score

640

Key factsBest for applicants who want to see pre-qualified auto loan refinancing offers as well as car insurance quotes.
Pros
  • Applicants can pre-qualify with a soft credit check.
  • Application process 100% online including document upload.
  • Social Security number not required to see pre-qualified offers.
  • Works with a network of lenders to show multiple offers.
Cons
  • Charges an origination/processing fee of $399.
  • Not available in all states.
  • Customer support not available on weekends.
Qualifications
  • Minimum annual gross income: Has minimum. Amount not disclosed.
  • Maximum debt-to-income ratio: 60%.
  • Bankruptcy restrictions: Has restrictions. Details not disclosed.
  • Maximum mileage: 125,000 miles gas/175,000 diesel.
  • Maximum loan to value ratio: 145%.
Gravity Lending - Refinance loan
Learn more
on Gravity Lending's website
on Gravity Lending's website
Gravity Lending - Refinance loan

Gravity Lending - Refinance loan

Est. APR

5.99-17.99%

Loan amount

$10,000-$200,000

Min. credit score

580

Key factsBest for applicants who want assistance in the loan application process without paying extra origination fees.
Pros
  • Majority of lending partners offer rate discount with automatic payment.
  • Social Security number not required to pre-qualify.
  • No origination or application fees.
  • Applicants can delay payment for up to 90 days after approval.
Cons
  • Applicant does not see pre-qualified rates. If applicant is matched to a lender, application is automatically sent to partner for approval via a hard credit check.
  • No special programs or flexible requirements for first-time car buyers.
Qualifications
  • Minimum annual gross income: $24,000.
  • Maximum debt-to-income ratio: 60%.
  • Bankruptcy restrictions: Minimum 2-year discharge.
  • Maximum loan-to-value ratio: 150%.
Tresl

Tresl - Refinance loan

Est. APR

4.67-23.80%

Loan amount

$8,000-No max.

Min. credit score

550

Key factsBest for applicants looking for hands-on help with the refinancing process from beginning to end.
Pros
  • Applicants work with a dedicated advisor throughout the refinancing process.
  • Most lending partners pre-qualify using a soft credit check.
  • Applicants typically receive multiple pre-qualification offers.
  • Network lenders offer a rate discount with automatic payment.
  • A Social Security number is not required to see pre-qualified offers.
Cons
  • Most lenders charge an origination fee of up to $495.
  • A few network lenders may use a hard credit inquiry for pre-qualification.
  • Borrowers aren’t able to choose their payment due date.
Qualifications
  • Minimum annual gross income: All network lenders have a minimum. The lowest is $30,000.
  • Maximum debt-to-income ratio: 60%.
  • Bankruptcy restrictions: Nearly all network lenders have bankruptcy restrictions, but details were not disclosed.
  • Maximum mileage: 150,000.
  • Maximum loan-to-value ratio: 150%.
Auto Approve – Refinance loan
Learn more
on Auto Approve's website
on Auto Approve's website
Auto Approve – Refinance loan

Auto Approve – Refinance loan

Est. APR

5.24-24.99%

Loan amount

$10,000-$150,000

Min. credit score

650

Key factsBest for applicants who want longer loan terms for refinancing and a variety of offers to compare.
Pros
  • Offers pre-qualification with a soft credit check.
  • Some network lenders offer a rate discount with automatic payment.
  • Available in all states.
  • Co-borrowers or co-signers are allowed in nearly all cases.
Cons
  • Charges an origination fee of up to $550.
  • Application is not fully online. Some verification done by phone.
Qualifications
  • Minimum annual gross income: All network lenders have a minimum. The lowest is $24,000.
  • Maximum debt-to-income ratio: 50%.
  • Bankruptcy restrictions: Has restrictions. Details not disclosed.
  • Maximum mileage: Varies by lender, but all allow at least 100,000 miles.
  • Maximum loan-to-value ratio: 140%.
OpenRoad
Learn more
on OpenRoad's website
on OpenRoad's website
OpenRoad

OpenRoad - Refinance loan

Est. APR

5.99-29.90%

Loan amount

$7,500-$100,000

Min. credit score

500

Key factsBest for applicants of all credit types looking to refinance their current auto loan with the assistance of auto refinancing experts.
Pros
  • Borrowers work with Loan Care Agents who receive extensive training in auto refinancing.
  • Applicants receive a single pre-qualification offer (or decline), which limits borrower contact from network lenders.
  • Most lenders pre-qualify using a soft credit check.
  • Applicants have the option to apply by phone or online.
  • Website provides accessibility tools.
  • Allows co-signers and co-borrowers.
Cons
  • Most network lenders charge an origination fee up to $199.
  • Provides only one pre-qualified offer.
  • A few network lenders may use a hard credit inquiry for pre-qualification.
  • Social Security number required to submit initial application.
  • Not available in some states.
Qualifications
  • Minimum annual gross income: There is a minimum income requirement in nearly all cases; the lowest among all lending partners with a minimum is $24,000.
  • Maximum debt-to-income ratio: Did not disclose.
  • Bankruptcy restrictions: A few network lenders have bankruptcy restrictions. OpenRoad Lending did not disclose what the restrictions are.
  • Maximum mileage: 150,000 miles.
  • Maximum loan-to-value ratio: 160%.
iLending
Learn more
on iLending's website
on iLending's website
iLending

iLending - Refinance loan

Est. APR

5.99-24.46%

Loan amount

$7,500-$150,000

Min. credit score

550

Key factsBest for applicants who want pre-qualified auto refinance loan offers and assistance with choosing the best one.
Pros
  • Offers pre-qualification with a soft credit check.
  • Application process is 100% online, including document upload.
  • Customer service is available on Saturday and Sunday.
  • Some of the network's lenders offer a rate discount with automatic payment.
Cons
  • Charges an origination/application fee of $449.
  • Borrowers aren’t able to choose the loan payment due date.
Qualifications
  • Minimum annual gross income: All network lenders have a minimum. The lowest is $21,600.
  • Maximum debt-to-income ratio: 50%.
  • Bankruptcy restrictions: Nearly all of iLending's partners have bankruptcy-related restrictions. The bankruptcy must have been discharged. Any waiting period after a bankruptcy varies by lender, from zero to 24 months.
  • Maximum loan-to-value ratio: 160%.
Autopay
Learn more
on Autopay's website
on Autopay's website
Autopay

Autopay - Refinance loan

Est. APR

4.67-23.80%

Loan amount

$8,000-No max.

Min. credit score

560

Key factsBest for applicants who want term options and need to have a co-signer or co-borrower.
Pros
  • Offers pre-qualification with a soft credit check with most lenders.
  • Fully online application available.
  • Allows co-borrowers and co-signers.
  • Some lenders offer rate discount with automatic payment.
  • Available in all states. Customer service available on weekends.
Cons
  • Most lenders charge an origination fee of up to $495.
  • A few network lenders may use a hard credit inquiry for pre-qualification.
  • Borrowers aren’t able to choose their payment due date.
Qualifications
  • Minimum annual gross income: Varies by lender.
  • Maximum debt-to-income ratio: 50%.
  • Bankruptcy restrictions: Most lenders have restrictions, but they vary by lender.
  • Maximum mileage: 150,000.
  • Maximum loan to value ratio: 150%.
RateGenius
Learn more
on RateGenius' website
on RateGenius' website
RateGenius

RateGenius - Refinance loan

Est. APR

4.67-23.80%

Loan amount

$8,000-No max.

Min. credit score

550

Key factsBest for applicants looking for an auto refinancing lender with online rates and the ability to see multiple pre-qualified offers.
Pros
  • Provides average daily rates by credit score on website.
  • Network lenders offer a rate discount with automatic payment.
  • Most lending partners pre-qualify using a soft credit check.
  • Customer service available on Saturday.
  • A Social Security number is not required to see pre-qualified offers.
Cons
  • Most lenders charge an origination fee of up to $495.
  • A few network lenders may use a hard credit inquiry for pre-qualification.
  • Borrowers aren’t able to choose their payment due date.
Qualifications
  • Minimum annual gross income: All network lenders have a minimum. The lowest is $30,000.
  • Maximum debt-to-income ratio: 60%.
  • Bankruptcy restrictions: Nearly all network lenders have bankruptcy restrictions, but details were not disclosed.
  • Maximum mileage: 150,000.
  • Maximum loan-to-value ratio: 150%.
Upstart
Learn more
on Upstart's website
on Upstart's website
Upstart

Upstart - Refinance loan

Est. APR

9.26-29.99%

Loan amount

$5,000-$60,000

Min. credit score

510

Key factsBest for applicants who would benefit from a more holistic view of their creditworthiness, including criteria like highest level of education and occupation.
Pros
  • Offers pre-qualification with a soft credit check.
  • Works with a network of lenders to find the best offer.
  • Does not charge an origination fee.
  • Bases loan approval on a wider range of criteria.
  • Fully online application.
  • Customer service available on Saturdays
  • Provides Spanish version of website.
Cons
  • Not available in all states.
  • No co-borrowers or co-signers allowed.
  • No APR rate discount with automatic payment.
Qualifications
  • Minimum annual gross income: $12,000.
  • Maximum debt-to-income ratio: Did not disclose.
  • No bankruptcy-related restrictions.
  • Maximum mileage: 140,000.
  • Maximum loan to value ratio: 185%.

Our pick for

Refinancing with direct lenders

Direct lenders are banks, credit unions and other companies that work directly with a borrower to make and service loans. We evaluate them using different criteria than aggregators.

LendingClub
Learn more
on LendingClub's website
on LendingClub's website
LendingClub

LendingClub - Refinance loan

Est. APR

5.99-24.99%

Loan amount

$4,000-$55,000

Min. credit score

660

Key factsBest for borrowers with fair to excellent credit who want to see pre-qualified auto loan refinancing offers.
Pros
  • Offers pre-qualification with a soft credit check.
  • Application process 100% online including document upload.
  • Charges no origination/processing fee.
  • Provides immediate loan decision in most cases.
  • Borrowers can choose loan payment due date.
Cons
  • No mobile app to make payments and manage the loan.
  • Maximum refinance amount lower than other lenders.
  • Doesn’t offer loan terms below 36 months.
  • Not available in all states.
Qualifications
  • Minimum credit score: 660.
  • Minimum credit history: None.
  • Maximum debt-to-income ratio: 70%.
  • Minimum gross annual income: None.
  • Bankruptcy restrictions: No public record of bankruptcy in the past 24 months.
  • Must be 18 years or older and a U.S. citizen or permanent resident.
LightStream
Learn more
on LightStream's website
on LightStream's website
LightStream

LightStream - Refinance loan

Est. APR

8.24-16.44%

Loan amount

$5,000-$100,000

Min. credit score

660

Key factsBest for borrowers with good or excellent credit who want to refinance a vehicle without restrictions on the type, age or mileage of the vehicle.
Pros
  • Offers rate discount with automatic payment.
  • No vehicle restrictions.
  • Application process can be completed 100% online, including document upload.
  • Offers a loan experience guarantee and rate beat program.
Cons
  • Doesn’t offer prequalification or preapproval.
Qualifications
  • Minimum credit score: 660.
  • Minimum credit history: None.
  • Maximum debt-to-income ratio: Did not disclose.
  • Minimum annual gross income: None.
  • Bankruptcy restrictions: Borrowers cannot have a bankruptcy record within the last 3 years.
  • Must be 18 years or older and a U.S. citizen or permanent resident.
Consumers Credit Union
Learn more
on Consumers Credit Union's website
on Consumers Credit Union's website
Consumers Credit Union

Consumers Credit Union - Refinance loan

Est. APR

8.44-21.24%

Loan amount

$0-$100,000

Min. credit score

None

Key factsBest for applicants wanting same-day loan approval, few vehicle restrictions and a rate discount with automatic payment.
Pros
  • Has no maximum restrictions on vehicle age or mileage. No minimum loan amount.
  • Vehicles from previous two model years qualify for the new car rate.
  • Offers 0.25-percentage-point rate discount with automatic payment. (Rate shown reflects this discount.)
  • Will refinance as soon as title can be transferred.
  • Has flexible loan terms outside of typical 12-month increments.
  • Provides Spanish version of website and Spanish-speaking agents.
Cons
  • Credit union membership required to apply for a loan.
Qualifications
  • Minimum credit score: None.
  • Minimum credit history: None, but prefers past history of paying an auto loan.
  • Maximum debt-to-income ratio: Prefers below 50%.
  • Minimum annual gross income: None.
  • Bankruptcy restrictions: No open bankruptcies.
  • Must be 18 years or older.
  • Need ITIN if not a U.S. citizen.
  • Must establish membership by joining the Consumers Cooperative Association for a one-time fee of $5.
Ally

Ally - Refinance loan

Est. APR

9.14-24.09%

Loan amount

$7,500-$99,999

Min. credit score

620

Key factsBest for borrowers wanting an easy online application process and the ability to see pre-qualified offers without affecting their credit scores.
Pros
  • Offers pre-qualification with a soft credit check.
  • Application process 100% online including document upload.
  • Social Security number not required to see pre-qualified offers.
  • Borrowers can choose loan payment due date.
Cons
  • No rate discount offered.
  • Has vehicle restrictions.
  • Not available in all states.
Qualifications
  • Minimum credit score: 620.
  • Minimum credit history: None.
  • Maximum debt-to-income ratio: Did not disclose.
  • Minimum gross annual income: 24,000.
  • Bankruptcy restrictions: No currently open bankruptcies.
  • Must be at least 18 years or older, except in Alabama where borrowers must be at least 19 years or older. Borrowers must be U.S. citizens, permanent residents, or non-permanent residents who live in the U.S.

Want to compare more options? Here are our other top picks:

  • PenFed Credit Union - Refinance loan
  • Digital Federal Credit Union - Refinance loan
  • Navy Federal Credit Union - Refinance loan
  • Alliant Credit Union – Refinance loan

Should you refinance your car loan?

Borrowers refinance auto loans for different reasons, and you most likely have a specific goal in mind. You may want to refinance to a lower interest rate to save money or shorten your loan term to pay it off sooner.

If you're having trouble making your monthly car payment, you might want to extend the loan term to lower the payment. But be aware that this can result in paying more interest over the life of the loan.

An auto loan refinance calculator can help you try out different rate, term and payment scenarios.

» Try our auto loan refinance calculator

When does it make sense to refinance a car loan?

If your credit has improved. If you’ve made consistent, on-time payments for six to 12 months since getting your car loan, and the lender has been reporting these payments to the credit bureaus, you might now qualify for a lower interest rate.

If a car dealer marked up your interest rate. When you got your original loan, the car dealer might have charged you a higher interest rate than you could have qualified for elsewhere — or can still qualify for with refinancing.

If you can’t keep up with payments. Refinancing to extend the length of the loan can lower your car payments, but don’t take this step lightly. Extending the loan term means you will pay more interest and more in total over the life of the loan, but that’s still a better option than missing payments or facing repossession.

If interest rates drop. If auto loan rates in general fall lower than when you first got your car loan, refinancing could be an opportunity to take advantage of these lower rates.

Another reason for refinancing a car is to remove a co-borrower from an existing auto loan.

Want to refinance your auto loan? See if you pre-qualify.

Just answer a few questions to get personalized results from our lending partners.
on NerdWallet

What happens when you refinance a car loan?

The process to refinance an auto loan is simple. You apply for an auto refinance loan, or auto refi loan, just as you would any other type of auto loan. Typically, you will have to apply with a new lender, because few lenders will refinance their own loans.

You will be able to choose the term for the new loan. This can be the same as the number of months remaining on your current loan, or you can shorten or extend it. Terms available from auto refinancing lenders vary, but a range of 24 to 84 months is the most common.

Extending the length of your car loan when you refinance will lower your monthly payments, but you will pay more interest over the life of your loan. It can also put you at risk of owing more than your car is worth, which is called being upside-down on your auto loan.

When you’re approved for an auto refinance loan, it provides funds to pay off and replace your current vehicle loan. In most cases, your refinance lender will take care of paying off your current loan. You then start making monthly, and hopefully lower, payments on the new loan.

The final step when refinancing is having a new car title issued to replace the lienholder (lender that has your loan) with the new lender. Many lenders will handle the title transfer for you. In some states, you may also need to re-register the car.

Refinancing may lower your credit scores if the lender uses a hard credit inquiry, but the drop is temporary and won’t have a long-term effect on your credit.

When is the best time to refinance a car loan?

Some lenders will refinance an auto loan as soon as you can provide information about your existing loan and lender. If you settled for an extremely high auto loan rate to escape a dealership, and you have good credit (FICO score of 690 and up), then refinancing to a lower rate as soon as possible may be a good idea.

On the other hand, if your blemished credit history resulted in a high auto loan APR, you might wait six to 12 months and keep paying on your existing loan. You generally need a history of six to 12 months of on-time payments, with no new negative items on your credit report, to make auto refinancing worthwhile or even possible with some lenders.

Who are the best auto loan refinance lenders?

The best auto refinancing lender for you may be different than the “best” for someone else. The higher your credit scores and the stronger your credit history, the more lender choices you will have with lower rates.

Nearly all banks and credit unions, known as direct lenders, offer auto loan refinancing. Your current bank or credit union might be a good place to start — especially if they offer a rate reduction for automatic payments.

Online loan marketplaces that work with a network of refinancing lenders are another option, and some specialize in refinancing auto loans. They provide the convenience of applying to many lenders with one loan application, but this can also lead to receiving calls, texts and emails from multiple lenders.

Lenders have different limits for car mileage and age, as well as the minimum amount a person can borrow, so make sure your needs fit within a lender’s requirements before you apply.

Applying to several auto refinance lenders and comparing offers give you the best chance of finding the lowest-rate loan with the shortest term. Make sure all applications are within a two-week window, so any hard credit inquiries are counted as one and have less effect on your credit scores.

Can you refinance a car loan with bad credit?

Refinancing an auto loan when you have bad credit can be difficult, but it might still be possible. Some lenders have minimum credit score requirements as low as 500. NerdWallet’s reviews of auto loan refinancing lenders show the minimum credit score for most.

But if your bad credit hasn't improved since getting your original loan, you will most likely have trouble finding a lender willing to refinance to a lower rate.

If you’re having trouble making car payments, talk to your current lender right away (before missing any payments). Some lenders have options to assist you that don’t require refinancing.

Can you get money back when you refinance an auto loan?

If your car is worth substantially more than you owe on it, some lenders allow what is known as cash-out auto refinancing. You borrow more than you owe on your current loan, pay off that lender and take the remainder in cash.

Interest rates for cash-out refinancing may be lower than those on a credit card or personal loan because the loan is secured by your car. But overborrowing against your car comes with risks. If your car is totaled or you eventually want to sell it, you might not receive enough from insurance or the buyer to pay off your loan balance. You would then be responsible for paying the remainder of the loan.

Last updated on February 16, 2024

Methodology

NerdWallet's review process surveys companies that offer any combination of new car purchase loans, used car purchase loans, auto refinance loans (traditional and/or cash-out) and lease buyout loans. These companies include direct lenders and aggregators; the latter group doesn't have in-house loan products but matches borrowers to third-party lenders within a network. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

Our survey for direct lenders has different questions than the survey for aggregators, but each includes more than 60 data points. NerdWallet independently confirms product details and, when necessary, follows up with company representatives. At least two writers and an editor verify the facts for every lender review to ensure data are accurate.

To receive a star rating, a provider must respond to NerdWallet’s annual auto loans survey. Star ratings are then assessed from poor (one star) to excellent (five stars).

For more details about the categories considered and our processes, read our full methodology for rating direct lenders and our full methodology for rating aggregators.

To recap our selections...

NerdWallet's Top Auto Loan Refinancing Lenders

Frequently asked questions

  • Most auto loans carry no prepayment penalty, so you most likely won't have any fees associated with ending your original loan. Some lenders do have application fees, so ask your auto refinancing lender about that. Also, some states require you to re-register the vehicle, so you could have registration or title transfer fees. Ask your local DMV about the requirements and costs in your state.

  • When you finance a car, whether you're buying or refinancing, the vehicle is collateral for the loan. Some lenders want a loan to be fully secured and won't provide a loan for more than 100% of the car's value. This is called the “loan-to-value” ratio or LTV. Other lenders make loans for more than 100% LTV, but usually only if the borrower has good credit. If you can refinance your upside-down car loan, it may be a way to get right-side up faster.

  • The process of refinancing a car loan is simple and straightforward. You apply for an auto refinance loan just as you would any other type of auto loan. Many lenders have online applications for auto loan refinancing, and some promise a loan decision in minutes.

    If you have poor credit, you may have more difficulty finding a lender willing to refinance your car loan. Also, some lenders require that you pay on an auto loan for several months before they will refinance it.

  • Most lenders will not refinance their own loans, so in most cases you will need to refinance your car with a different lender. There are some exceptions though. For example, Bank of America says it will refinance existing auto loans, so you should ask your current lender about its refinancing policies.

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