Lower Your Monthly Payments with Auto Refinancing

Car loan refinancing allows you to reduce your monthly payment, lower the amount of interest paid, or a combination of both. With CarFinance.com, you can start the process with our quick, online application. It’s a common mistake to believe a loan’s first terms were set in stone at signing. But even if you’re applying with less-than-perfect credit today, you may still be able to reduce your interest rate and monthly payment by refinancing your automobile.

How to refinance your car loan, even with below prime credit:

How to Save by Refinancing

After your application is complete, have these answers ready:


Was your financed car purchased in the last 36 months (3 years)?

Auto refinancing is ideal for purchases made in the last 36 months.

Is your current outstanding loan balance more than $10,000?

Refinancing car loans when your balance is over $10,000 will yield the best savings. If your current loan is less than $10,000, many lenders will not consider a refinance offer.

Do you intend to keep your financed vehicle for at least another 3 years?

The longer you plan to keep your car, the more benefits you will receive from a refinanced car loan.

Do you understand the terms and details of your current car loan?

By terms, we are referring to interest rate, remaining balance, total payoff amount, your monthly statement, etc. It’s important to know the details of your current car loan so you can compare them to a refinanced loan offer.

Will I qualify?

As long as you have been paying your current car loan and other payments on time, chances are very good you will be approved. At CarFinance.com we specialize in all credit situations, from bad credit to stronger credit profiles, so don’t hesitate to apply today!

What documents do I need to apply?

Just like your previous loan application, it is important for you to have proof of income or employment, proof of residence, proof of insurance and proof of identity. Additionally, you will want handy all the details of your car, like its Vehicle Identification Number (VIN), how many miles it has, options and its current condition.

Will my car qualify?

If your car has less than 100,000 miles on it and is no older than 8 model years, you’re likely to qualify for a loan with CarFinance.com. You’re less likely to be approved if you are trying to refinance a specialty collectable or exotic car, any heavy duty truck, a commercial vehicle or a damaged automobile.

Start your easy, 5-Step Auto Loan Refinance Application Today!

Apply Now

Customers refinance their car loans for 3 main reasons:

  1. Lower their monthly loan payment
  2. Save in total interest paid over the life of the loan
  3. A combination of either

Car Loan Refinance Example


Your current payment for a $30,000 auto loan at 13% interest is $602.22 a month for 72 months. After 36 payments, you’ve paid $17,873.

After refinancing your loan to a new, 72-month loan at 13% interest, your monthly payments are reduced to $358.78 a month.

Your refinanced loan saves you $243.44 a month!