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CarFinance.com Auto Refinance Loans: 2020 Review

March 18, 2020
Auto Loans, Loans
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

CarFinance.com no longer appears to be making consumer auto refinancing loans.

We have been unable to reach CarFinance.com to update information or confirm its current lending capabilities. Its website remains but now promotes an online shopping service for dealers called ModCars. Clicking its application leads to a car-finding questionnaire rather than a loan. Its customer service email and phone number deliver no response.

Car loan rates

As with all auto financing, your interest rate on a refinance loan will depend on your credit, with lower scores resulting in higher rates. Lenders set their own requirements, but credit scores are generally categorized as follows:

  • 300-629: Bad credit.
  • 630-689: Fair credit, also called “average credit.”
  • 690-719: Good credit.
  • 720 and up: Excellent credit.

Consider these other online refinancing lenders as you shop.

CompanyMinimum credit scoreMinimum monthly incomeMaximum vehicle age/mileageHard pull?Get started
MyAutoloan
3.5 NerdWallet rating
500$1,10010 yrs / 125,000 miYes
OpenRoad Lending
3.5 NerdWallet rating
500$1,50010 yrs / 140,000 miNo
IFS

4.0 NerdWallet rating
500$1,50010 yrs / 150,000 miNo
LendingClub

4.0 NerdWallet rating
510None10 yrs / 120,000 miNo
Capital One
4.0 NerdWallet rating
540$1,500 - $1,8007 yrs / No restrictionNo
RateGenius
3.0 NerdWallet rating
550$2,0007 yrs / 100,000 miYes
RefiJet
4.0 NerdWallet rating
580$2,00010 yrs / 200,000 miNo
Autopay
3.0 NerdWallet rating
600$2,00011 yrs / 125,000 miNo
Clearlane
3.0 NerdWallet rating
600$1,80010 yrs / 100,000 miNo
Consumers Credit Union
3.0 NerdWallet rating
640$500; $2,000 preferredNo restrictionYes
LightStream
5.0 NerdWallet rating
660NoneNo restrictionYes

CompanyMin credit score, monthly incomeGet started
MyAutoloan
3.5 NerdWallet rating
500

$1,100
OpenRoad Lending
3.5 NerdWallet rating
500

$1,500
IFS
4.0 NerdWallet rating
500

$1,500
LendingClub
4.0 NerdWallet rating
510

None
CarFinance.com
3.5 NerdWallet rating
525

None
Capital One
4.0 NerdWallet rating
540

$1,500 - $1,800
RateGenius
3.5 NerdWallet rating
550

$2,000
RefiJet
4.0 NerdWallet rating
580

$2,000
Autopay
3.0 NerdWallet rating
600

$2,000
Clearlane
3.0 NerdWallet rating
620

$1,800
Consumers Credit Union
3.0 NerdWallet rating
640

$500; $2,000 preferred
LightStream
5.0 NerdWallet rating
660

None

Shopping for an auto loan

 

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