Auto Refinance

GET UP TO 4 OFFERS IN MINUTES

Todays rate
as low as:

3.99%^±

Todays rate
as low as:

3.99%^±

Todays rate
as low as:

3.99%^±

Todays rate
as low as:

3.99%^±

Pre-qualified Offers are provided by participating Lenders - there is no guarantee of approval

Ready to lower your payments? Get up to 4 offers in minutes!

If you're unhappy with your current auto loan payments, interest rate, or loan term, it may be the perfect time to refinance! Refinancing your auto loan could help you save money in two ways: by lowering your monthly payments and/or your interest rate. See how much you could be saving with myAutoloan's fast, free, and totally secure online application. A few minutes of your time could save you hundreds, if not thousands of dollars. Ready to take charge of your old auto loan? Complete your application and get matched with up to 4 refinance offers in minutes. Don't wait—interest rates could change tomorrow!

How this works

Fill out our short and secure two minute offer form

We match you to our lenders - you get up to 4 offers

Receive online certificate or funding within 24 hours

Use your funds to buy the car you want

Key Takeaways

Refinancing can lower your payment — if you secure a lower APR or extend your loan term, your monthly payment decreases.
Application takes about 2 minutes — complete one form to receive up to 4 pre-qualified offers from multiple lenders.
No obligation to accept — compare offers and choose the best fit, or walk away at no cost.
Soft inquiry only at application — your credit score is not affected when you apply through myAutoloan.
Funds typically within 24–72 hours — once you accept an offer, the lender pays off your existing loan directly.

Signs It May Be Time To Refinance Your Car

There's not necessarily a right or wrong time to refinance, however, paying attention to these signs could help you secure the best loan for your needs.

Have interest rates gone down since you originally bought your car? Whether you bought your car new or used, it could be worth refinancing if interest rates have dropped. For instance, a $15,000 loan at 5% interest (60 month term) will cost you about $1,984 over the course of the loan, with monthly payments of $283. At 2.5%, though, your monthly payments drop to $266 and the loan ends up costing you only $973 over the life of the loan. That's over $1,000 in savings!

Car buyers with lower credit scores tend to get stuck with higher interest rates. It's unfortunate, especially for first-time borrowers or young adults, but something that's well within your power to change. If you've been making your car payments on time since you first purchased your car, whether for a few months to a full year, your credit score may very well have gone up. If it has, there's a chance that you could refinance at a lower rate.

Even a small decrease in your interest rate could result in big savings over the course of your loan term. Get your free credit scores from all three credit bureaus when you select FreeScore360.com in our list of personal finance tools and resources.

Has your income increased or decreased significantly? If you've had a few financial setbacks since purchasing your vehicle, you may be able to lower the amount of your monthly payment by refinancing and extending the loan term. On the flip side, if your income has gone up you may want to refinance with a shorter loan term to pay off your debt faster.

Many people refinance to save money, but not everyone. Some people have personal reasons for refinancing, like removing or adding co-signers. The refinance process essentially gives you a new loan and a new contract, making it easy to add or remove people from the loan.

How Auto Loan Refinancing Works

Complete the application — The secure online form takes about 2 minutes. You'll need your current loan information, vehicle details, and proof of income.

Receive pre-qualified offers — myAutoloan submits your application to its lender network. You typically receive up to 4 offers within minutes.

Compare and select — Review each offer's APR, monthly payment, and total cost. Select the one that fits your goals, or decline all with no obligation.

Lender pays off your existing loan — The new lender handles the payoff of your old loan directly. Funds are typically disbursed within 24–72 hours of final approval.

Worried About Qualifying For An Auto Refinance?

There are a few general requirements you must meet in order for your application to be successfully processed. You may still submit a loan application even if you do not meet all of the criteria below, though we may not be able to identify a lender or as many as 4 lenders that match your profile.

Age: You and/or your co-qualifier must be at least 18 years old
Income: You must have a minimum income of $2,000 per month or $24,000 per year
Bankruptcy: You must not have an open bankruptcy
Location: You must reside in a state where myAutoloan currently does business (we do business in 48 states, but not in Alaska or Hawaii)

Refinancing Savings Example

Scenario	Original Loan	Refinanced Loan
Loan amount	$15,000	$15,000
APR	5.00%	2.50%
Term	60 months	60 months
Monthly payment	$283	$267
Total interest paid	$1,984	$977
Savings	~$1,007 over the life of the loan

Example for illustration only. Actual savings depend on your loan terms and lender offer.

More About myAutoloan

Most borrowers refinance with their current bank out of habit — without comparing what other lenders would offer. myAutoloan submits your refinance application to multiple lenders simultaneously, so you can see competing offers side by side and choose the rate that actually saves you money, rather than defaulting to whoever holds your current loan.

Complete our one-page, two-minute application and we'll match you with up to 4 of our trusted lenders. After accepting an offer, you can expect the new lender to pay off your existing loan directly — typically within 24–72 hours. Ready to enjoy some savings? Let myAutoloan help you find the best refinancing offer for your needs.

More About Refinance Rates

Today's refinance rates start as low as 3.99% APR^±. Your actual rate depends on your credit profile, loan term, and lender. Estimate your payment.

Auto Refinance FAQ

When should I refinance my car loan?

Consider refinancing if interest rates have dropped since you took out your original loan, your credit score has improved, or you want to lower your monthly payment by extending the loan term. Refinancing a $15,000 loan from 5% to 2.5% APR over the same term can reduce total interest paid by over $1,000.

Will refinancing my car loan hurt my credit score?

myAutoloan (HDF) acquires a "soft" credit inquiry, which does not affect your credit score. Lenders and their networks, Credit Sources and their networks may also acquire a "soft" or a "hard" credit inquiry. If you shop multiple lenders within a 14–30 day window, most credit scoring models count all auto loan hard inquiries in that period as a single inquiry.

How long does auto loan refinancing take?

The myAutoloan application takes about 2 minutes. Pre-qualified offers typically arrive within minutes. The lender payoff of your existing loan and funding typically occurs within 24–72 hours of final approval.

What do I need to refinance my car loan?

You will typically need your current loan account information (lender name, account number, payoff amount), vehicle details (year, make, model, mileage, VIN), proof of income, and personal identification. Requirements vary by lender.

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Auto Refinance

Ready to lower your payments? Get up to 4 offers in minutes!

How this works

Key Takeaways

Signs It May Be Time To Refinance Your Car

How Auto Loan Refinancing Works