Refinance Your Car Loan

Where to refinance your car loan

Your instinct may be to return to directly to your original lender to request a better rate or longer terms. However, while this may be a possibility, getting a favorable offer from the original lender is unusual, Jones explains. “Usually people have more luck with a new lender,” he says.

In that case, you’ll have to research new lenders. You can view interest rates and reviews for all our top auto lenders right here, but here are a few of our favorites to check out:


LightStream, which is part of SunTrust bank, is a reputable and well-reviewed lender with annual percentage rates (APRs) as low as 2.49% to 6.54% for auto loan refinancing. LightStream accepts borrowers with good to excellent credit.


USAA provides loans for military service members and their families. While the best USAA loan rates are only available to borrowers with the best credit scores, there are fair rates available for all borrowers. Refinancing is available with a minimum APR of 2.49%. Loans for those with poor credit are available with rates as low as 7.44%. You rate also depends on the age of your car.


MyAutoloan reviews digital loan applications in just a few minutes, making your refinance quick and easy. Loan terms of up to six years are available with auto refinancing as low as 1.99% APR. If you don’t have great credit history, though, you may end up paying interest rates as high as 27%.

Capital One Auto Finance

The average Capital One auto loan refinance customer saves $700 per year. Refinancing rates start at 2.99% APR with loans available for $7,500 to $40,000. Capital One Auto Finance charges no origination fee.

BB&T Auto Loan

If getting an auto loan online just feels too impersonal, BB&T Auto Loan is a good choice with competitive rates. The bank processes loan applications in person at their 2,000 locations on the East Coast. The maximum loan term is six years with interest rates of 2.24% and up.


Up2drive allows borrowers to take advantage of a 0.5% decrease in their APR when they enroll in EasyPay auto-payments. Their parent company, BMW Financial Services has a A rating from the Better Business Bureau, and up2drive offers loans of $7,500 to $50,000.

Regardless of where you choose to refinance, be sure to do your due diligence. “Do your research and be skeptical,” says Jones. You can see reviews of dozens of lenders from real customers right here.

There’s no substitute to comparing multiple lenders to see what rates and terms you qualify for. SuperMoney’s auto loan offer engine allows you see w

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