Best Auto Refinance Loans and Rates of November 2025
To get the most benefit from an auto loan refinance, you’ll want to compare auto refinancing lenders and find the lowest rate possible.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
When you refinance a car loan, you replace your current loan with a new one that lowers your interest rate, reduces your monthly payment or cuts the total amount you pay on a car — or possibly all three. Whatever your goal, take time to compare auto refinancing lenders to find the best auto refinance rates and terms for you.
| Lender | Best for | Est. APR | Loan amount | Min. credit score | Learn more |
|---|---|---|---|---|---|
| Excellent for Refinancing with direct lenders | 6.99-15.49% | $5,000-$100,000 | 660 | Learn moreon LightStream's websiteon LightStream's website | |
| Excellent for Refinancing through loan aggregators | 4.24-17.98% | $15,000-$200,000 | 600 | Learn moreon Gravity Lending's websiteon Gravity Lending's website | |
| Excellent for Refinancing through loan aggregators | 5.24-24.99% | $6,000-$150,000 | 480 | Learn moreon Auto Approve's websiteon Auto Approve's website | |
| Excellent for Refinancing through loan aggregators | 5.48-28.55% | $5,000-$200,000 | 580 | Learn moreon Caribou's websiteon Caribou's website | |
 Consumers Credit Union - Refinance loan Learn moreon Consumers Credit Union's websiteon Consumers Credit Union's website | Excellent for Refinancing with direct lenders | 4.74-16.54% | No min.-$100,000 | 600 | Learn moreon Consumers Credit Union's websiteon Consumers Credit Union's website |
| Excellent for Refinancing with direct lenders | 5.49-24.99% | $4,000-$55,000 | 600 | Learn moreon LendingClub's websiteon LendingClub's website | |
| Excellent for Refinancing through loan aggregators | 5.49-19.24% | $5,000-$250,000 | 580 | Learn moreon iLending's websiteon iLending's website |
Excellent 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.
LightStream - Refinance loan
6.99-15.49%
$5,000-$100,000
660
- Offers 0.50-percentage-point rate discount with automatic payment. (Rate shown doesn’t reflect this discount.)
- No vehicle restrictions.
- No origination fees.
- Offers a rate beat program.
- No waiting period to refinance your original auto loan.
- Application process is 100% online, including document upload and prefill of some information.
- Doesn’t offer prequalification or preapproval.
- Doesn’t take phone applications and ways to contact LightStream are limited.
- Minimum credit score: 660.
- Minimum credit history: Varies but typically three years.
- Maximum debt-to-income ratio: Varies but typically 55%.
- Minimum annual gross income: None.
- Bankruptcy restrictions: Has bankruptcy restrictions but did not disclose specifics.
- Must be 18 years or older and a U.S. citizen or permanent resident.
Consumers Credit Union - Refinance loan
4.74-16.54%
No min.-$100,000
600
- 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 doesn't reflect this discount.)
- Will refinance as soon as title can be transferred; no waiting period.
- Has flexible loan terms outside of typical 12-month increments.
- Does not offer pre-qualification with a soft credit check.
- Minimum credit score: 600.
- 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.
LendingClub - Refinance loan
5.49-24.99%
$4,000-$55,000
600
- Offers pre-qualification with a soft credit check.
- Application process 100% online including document upload.
- Provides immediate loan decision in most cases.
- Borrowers can choose loan payment due date.
- Maximum refinance amount lower than other lenders.
- Charges a $150 origination fee for amounts over $7,500.
- Does not offer a rate discount for automatic payment.
- Not available in all states.
- 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.
Excellent 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.
Gravity Lending - Refinance loan
4.24-17.98%
$15,000-$200,000
600
- Minimum APR possible tends to be lower than similar aggregators.
- Majority of lending partners offer an APR discount (up to .50%) for automatic payments. Rates shown don’t reflect any discounts.
- Co-signers and co-borrowers allowed.
- Will refinance a vehicle as soon as the title can be transferred; no waiting period.
- Provides in-house customer support throughout the application process.
- Advertises pre-qualification with a soft credit check, but lending partners could do a hard credit inquiry in some cases.
- A small percentage of borrowers could pay a lender origination fee of up to $95.
- Minimum loan amount of $15,000 is higher than similar lenders.
- Minimum credit score: 600.
- Minimum credit history: At least one lending partner has no minimum length of credit history requirement. Among lenders that have a minimum, the shortest is six months.
- Maximum debt-to-income ratio: 85.99%.
- Minimum gross annual income: $24,000.
- Bankruptcy restrictions: At least one lending partner has no bankruptcy restrictions. Lenders with restrictions require a minimum of three months since discharge.
- U.S. citizens, permanent residents, individuals with an ITIN and anyone with a work visa may qualify.
iLending - Refinance loan
5.49-19.24%
$5,000-$250,000
580
- Offers pre-qualification with a soft credit check.
- Customer service is available on Saturday and Sunday.
- Co-signers and co-borrowers allowed.
- Will refinance a vehicle as soon as the title can be transferred; no waiting period.
- Application process 100% online including document upload and possible pre-fill of current vehicle information.
- Charges an administrative processing fee of up to $549.
- Less than half of lenders offer rate discounts for automatic payments.
- Not available in Hawaii, New Hampshire or Rhode Island.
- Minimum credit score: 580.
- Minimum credit history: 24 months.
- Maximum debt-to-income ratio: 100%.
- Minimum gross annual income: $18,000.
- Bankruptcy restrictions: Must have been 24 months since bankruptcy.
- Must be 18 years or older.
RefiJet - Refinance loan
4.49-21.99%
$6,000-$150,000
540
- Offers pre-qualification with a soft credit check.
- Will refinance a vehicle as soon as the title can be transferred; no waiting period.
- Provides in-house customer support throughout the application process.
- More than half of lenders offer an APR discount (up to .25%) for automatic payments. Rates shown don't reflect any discounts.
- Available in all states.
- Borrowers pay an origination fee of up to $695.
- Less than half of lenders offer a rate discount with automatic payment.
- Minimum credit score: 540.
- Minimum credit history: At least one lender has no minimum. Lowest among lenders with a minimum is 12 months.
- Maximum debt-to-income ratio: 70%.
- Minimum gross annual income: $2,000 monthly.
- Bankruptcy restrictions: No open bankruptcies in the past 12 months.
Excellent for
Refinancing with poorer credit
Auto Credit Express did not answer many of the questions we ask of loan aggregators, so it has not received a star rating. But it is worth noting here that this provider will try to match borrowers with low credit scores, bankruptcies or repossessions to auto loan refinancing lenders.
Auto Credit Express - Refinance loan
N/A
$5,000-$45,000
525
- Specializes in helping car buyers who have low credit scores, bankruptcies or repossessions.
- Some network lenders have a minimum credit score as low as 525.
- Partners with lenders that allow co-signers and co-borrowers.
- Some network lenders may do a hard credit inquiry.
- Social Security number required to submit initial application.
What is auto refinancing?
Refinancing a car involves getting a new loan to pay off and replace your current one. You begin making payments on the new loan, which usually has a lower interest rate or different repayment period. (You’ll sometimes hear auto refinance loans referred to as auto refi loans.)
The pros and cons of auto loan refinancing can include the following — although your actual benefits will depend on your situation and the auto refinance loan you choose.
Pros of refinancing
Paying less in interest.
Lowering your monthly car payment.
Paying your loan off earlier.
Tapping your car’s equity to get cash.
Cons of refinancing
Paying more in interest if you extend the term.
Paying lender fees or to re-register your car.
Risk of becoming upside down on your loan.
Can you refinance a car loan?
Whether you personally can refinance will depend on whether you and your vehicle meet lender requirements for refinancing a car. Eligibility requirements can vary from lender to lender — another reason to shop more than one auto refinancing lender.
As with any auto loan, approval of your auto refinancing loan and the interest rate you receive will depend on factors like your credit score, loan payment history and debt-to-income ratio. Also some lenders will have restrictions on vehicle age and mileage, or they may have time requirements for how soon you can refinance after getting the original loan.
Should you refinance your car loan?
Borrowers refinance auto loans for different reasons, with the most common being reducing an auto loan rate to save money. Whether a person can save and how much depends on each borrower's particular situation.
In the second quarter of 2025, car owners who refinanced reduced their interest rate by an average of about 2%, according to consumer credit reporting company Experian. The average monthly payment savings was $71.
Here are some situations when it could make sense to refinance your car:
If your credit has improved: If you’ve made consistent, on-time payments for 6 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 — and 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 lower auto refinance rates.
Other reasons to refinance a car include changing the loan length or removing a co-borrower.
Want to refinance your auto loan? See if you pre-qualify.
What are current auto refinance rates?
Auto refinance rates vary by lender and borrower, but you can get a general idea about rates in the current market. NerdWallet regularly requests auto refinance rates (both the highest and lowest possible) from the lenders and aggregators that we review. You can find the auto refinance rates provided by each lender and aggregator as part of its review.
As rates change, you can use an auto loan refinance calculator to compare your existing auto loan with a new one. Input APRs for both loans, along with the loan terms, to see at what APR your monthly savings would be enough to make refinancing a good idea.
» Try our auto loan refinance calculator
What’s the process for refinancing a car loan?
Completing the loan application to refinance a car is usually pretty simple, but it’s a good idea to do some preparation to ensure auto loan refinancing makes sense for you.
Review details about your existing loan. If you aren’t certain of your current APR, determine that. Find out how many months are left on the loan and the payoff amount. You will need this information as well, if you proceed with applying for an auto refinancing loan.
Estimate your car’s value. Use resources like Kelley Blue Book or Edmunds to figure what your vehicle is worth. If you owe more on the loan than the car’s value, called having negative equity, you may have difficulty refinancing.
Evaluate your credit. Get a copy of your credit report and credit score for free. Knowing where your credit stands can help you gauge whether you might qualify for a loan with a lower interest rate than you have now.
Apply to lenders that offer pre-qualification. If you decide to pursue auto refinancing, look for lenders that offer pre-qualification with a soft credit check, which won’t affect your credit scores. You’ll get pre-qualified loan offers with rate, term and payment estimates, but know that details can change as you move forward and a hard credit inquiry is done.
Compare and select an auto refinancing lender. An auto loan refinancing calculator can help you compare lender offers with your current loan, including seeing how much a lower APR could save you. When choosing a lender, also compare fees and repayment terms. When you move forward with a lender, expect a hard credit inquiry which may cause a temporary drop in your credit scores
Decide on the length of your new loan. Your new auto loan term can be the number of months remaining on your current loan, or you can shorten or extend it. A longer term can lower your monthly payment, but you’ll pay more interest over the life of the loan and could become upside-down on your loan. Common auto refinancing terms range from 24 to 84 months, but this can vary by lender.
Once approved, finalize paperwork and pay off the old loan. Your new auto refinance loan provides funds to pay off and replace your current loan. In most cases, your refinance lender will pay off the existing loan, and you start making monthly, and hopefully lower, payments on the new loan.
Transfer the car’s title. 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.
» MORE: How to refinance your car loan
How soon can you refinance a car loan?
The best time to refinance a car is when auto loan rates drop, and you can get a better loan — but that’s the simple answer. Here are a few timing considerations for when you can and should refinance a car loan.
Refinancing a car loan right away: 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.
Waiting to refinance an auto loan: Some lenders have a waiting period of several months before they’ll refinance an auto loan. And, if you have a high auto loan APR because of poor credit, choosing to wait six to 12 months before refinancing can improve your chances of getting a better 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 place to refinance your car may be different than the “best” for another borrower. Applying to several auto refinance lenders and comparing offers will give you the best chance of finding the lowest auto refinance rates with the shortest term for which you can qualify.
In the second quarter of 2025, Experian reported a significant difference in the average monthly payment savings by refi lender type — with credit unions at $87, banks at $46 and other finance companies at $13.
Here are some things to think about when you’re considering where to apply for an auto refinance loan.
Online loan aggregators are a convenient way to apply to multiple auto refinancing lenders — often banks and credit unions — at once to find the lowest rate. However, depending on the aggregator you choose, you could end up receiving calls, texts and emails from many of these lenders.
Nearly all banks and credit unions offer auto loan refinancing, and online loan applications enable you to cast a wider net outside of your community. Your current bank or credit union is also a good place to apply — especially if they offer a rate reduction for automatic payments from an existing checking or savings account.
Most lenders won’t refinance their own auto loans to a lower rate, but a few will — sometimes for a fee.
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.
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.
Typically, the higher your credit scores and the stronger your credit history, the more lender choices you’ll have for lower auto refinancing rates.
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 low credit score hasn't improved since getting your original loan, you’re likely to 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.
When is auto loan refinancing not a good idea?
Auto loan financing has many benefits, if in fact it enables you to end up with a better auto loan and improve your financial situation. But there are times when refinancing your car may not be a good idea. Here are a few examples:
You can’t find a significantly better interest rate: If interest rates haven’t dropped much since you got your original loan, or your credit hasn’t improved, you might not find a rate that’s much better than what you currently have. A good rule of thumb: If you can lower your current auto loan rate by 1% or more, you’re likely to save enough in interest over the life of the loan to make refinancing worthwhile.
A lower interest rate or payment requires a much longer loan term: A lower rate and payment might look good on paper, but it can cost you much more in interest overall when you extend the loan term. During that time your car continues to lose value, meaning you could end up owing more than the car is worth.
You’ll pay more in fees than you’ll save: Read the fine print to see what you’re actually paying to refinance. Some lenders and aggregators charge fees under a variety of names — such as origination, application and document fees — that would eat into your expected savings from refinancing.
Last updated on November 5, 2025
Methodology
As part of our auto lender review process, NerdWallet's editorial team 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.
NerdWallet's Best Auto Refinance Loans and Rates of November 2025
- LightStream - Refinance loan: Excellent for Refinancing with direct lenders
- Gravity Lending - Refinance loan: Excellent for Refinancing through loan aggregators
- Auto Approve – Refinance loan: Excellent for Refinancing through loan aggregators
- Caribou - Refinance loan: Excellent for Refinancing through loan aggregators
- Consumers Credit Union - Refinance loan: Excellent for Refinancing with direct lenders
- LendingClub - Refinance loan: Excellent for Refinancing with direct lenders
- iLending - Refinance loan: Excellent for Refinancing through loan aggregators
- MyAutoloan - Refinance loan: Excellent for Refinancing through loan aggregators
- RefiJet - Refinance loan: Excellent for Refinancing through loan aggregators
- RateGenius - Refinance loan: Excellent for Refinancing through loan aggregators
- Alliant Credit Union – Refinance loan: Excellent for Refinancing with direct lenders
- OpenRoad - Refinance loan: Excellent for Refinancing through loan aggregators
- Autopay - Refinance loan: Excellent for Refinancing through loan aggregators
- Ally - Refinance loan: Excellent for Refinancing with direct lenders
- Upstart - Refinance loan: Excellent for Refinancing through loan aggregators
- Auto Credit Express - Refinance loan: Excellent for Refinancing with poorer credit
Frequently asked questions
- What will it cost to refinance my car loan?
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.
- Can I refinance if I owe more than my car is worth?
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.
- Can I get cash back when I refinance my car?
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.
Cash-out auto refinancing could make sense, for example, if you need money for an emergency. Interest rates for cash-out refinancing may be lower than what you would pay on a credit card or personal loan, because the loan is secured by your car.
But borrowing 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.
- Will I pay prepayment penalties to pay off my loan early?
Before refinancing, ask your current lender if there’s a prepayment penalty to pay off your loan early. The odds are that there won’t be. Prepayment penalties used to be more common than they are today. Of the 30 financial companies surveyed by NerdWallet for auto loan reviews, all responded that they do not charge prepayment penalties.
