Where can I go to refinance my car?

Where can I go to refinance my car?

Refinancing a car can save you money on interest or give you a lower payment and some breathing room in your budget. Auto refinancing could also temporarily ding your credit score, but it's unlikely to hurt your credit in the long run.

What credit score do I need to refinance my car?

If you're looking to refinance your bad credit auto loan, you certainly can use the same lender you worked with before. However, we recommend that you also apply with multiple other lenders so that you can compare offers, as you may get a better deal with a different lender.

How long should you wait to refinance your car?

Wait at least 60-90 days from getting your original loan to refinance. It typically takes this long for the title on your vehicle to transfer properly, a process that will need to be completed before any lender will consider your application. Refinancing this early typically only works out for those with great credit.

How can I lower my monthly car payment?

You do not need to wait any minimum amount of time before refinancing your car loan. You can refinance immediately after buying—even before you make your first monthly payment. Just be sure that you actually end up with a better deal and that refinancing doesn't cause you to pay more for your vehicle.

Is it a good idea to refinance your car?

Doing so will lower your payment, but most importantly, it will decrease the amount of interest you have to pay on the loan. Your payments will be higher, but you'll pay the car off sooner, and you'll pay less money over time in interest.