Best Auto Refinance Loans in 2026
From lower payments to cash-outs, get matched with auto refinance lenders tailored to your situation
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| Lender | User rating | Best for | Starting APR | Term | Amount | Actions |
|---|---|---|---|---|---|---|
|
Overall auto refinancing | 4.99% | 12 to 96 months |
$5k – $150k |
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Credit union auto refinancing | 1.00% | 12 to 84 months | Up to $100k | ||
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Superior customer service | 4.18% | 24 to 84 months |
$5k – $125k |
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Cash-out refinancing | 4.29% | 24 to 96 months |
$2.5k – $100k |
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Refinancing large car loans | 4.49% | 12 to 96 months |
$10k – $150k |
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Refinancing with a direct lender | 4.49% | 24 to 84 months |
$4k – $100k |
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Refinancing with bad credit | 5.49% | 36 to 84 months |
$7.5k – $100k |
| Lender |
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|---|---|---|---|---|---|---|---|
| User rating | |||||||
| Best for | Overall auto refinancing | Credit union auto refinancing | Superior customer service | Cash-out refinancing | Refinancing large car loans | Refinancing with a direct lender | Refinancing with bad credit |
| Starting APR | 4.99% | 1.00% | 4.18% | 4.29% | 4.49% | 4.49% | 5.49% |
| Term | 12 to 96 months | 12 to 84 months | 24 to 84 months | 24 to 96 months | 12 to 96 months | 24 to 84 months | 36 to 84 months |
| Amount | $5k – $150k | Up to $100k | $5k – $125k | $2.5k – $100k | $10k – $150k | $4k – $100k | $7.5k – $100k |
- People often refinance to get a cheaper car payment, to save money on interest or to remove a cosigner.
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The average auto refinance rate is 8.05%
Based on average APRs offered to LendingTree customers seeking auto loans to refinance light trucks and cars in Q2 2026.
across all credit scores.Based on average APRs offered to LendingTree customers seeking auto loans to refinance light trucks and cars in Q2 2026.
- People who refinance their car loan save an average of $1,346 in total loan costs according to LendingTree research.
Best auto refinance loans at a glance
Best for: Overall auto refinancing – Hello Refi
- Starting APR
- 4.99%
- Term
- 12 to 96 months
- Amount
- $5k – $150k
- Min. credit score
- 600
- Check rates with no impact to credit
- Short and long loan terms
- Dedicated loan consultants
- Customer service available seven days a week
- May charge fees
Hello Refi is our top pick for auto refinancing because it offers features that borrowers prioritize: rates from partner lenders with no impact to your credit, hands-on help from a dedicated loan consultant and a wide range of loan terms to fit the term length you need.
That said, Hello Refi’s partners may charge fees, so use the LendingTree auto refi calculator to make sure the new loan is worth any new charges.
To refinance your vehicle with Hello Refi, you must meet the following requirements:
- Credit score: 600+
- Vehicle age: Less than 10 years old
- Mileage: Less than 150,000 miles
- Minimum credit history: Six months
- Minimum income: $1,500 per month (varies)
Best for: Credit union auto refinancing – Southeast Financial Credit Union
- Starting APR
- 1.00%
- Term
- 12 to 84 months
- Amount
- Up to $100k
- Min. credit score
- 600
- No doc fees
- Low starting APR for short-term loans
- No payments for up to 90 days
- $5 deposit to join credit union
- No customer service on weekends
Low starting rates, no model-year restrictions and easy membership requirements make Southeast Financial Credit Union our top choice for refinancing with a credit union. Keep in mind that the 1.00% starting APR is for 12-month loans only, and that rates for loan terms of four years or longer look more like the rates displayed for other lenders on this page. Still, if you want to save with a short-term car loan, you’d have a hard time finding lower rates than those from Southeast Financial Credit Union.
You must have a credit score of at least 600 to qualify for an auto loan. You also need to join the credit union before you can borrow.
All SFCU members must open a savings account with a deposit of at least $5. To become a member, you must meet one of the requirements below:
- Make a $5 donation to Autism Tennessee
- Be a current employee or retiree of a Southeast Financial Select Employee Group
- Be related to a current SFCU member
- Live, work, worship or go to school in certain parts of Tennessee, Kentucky or Mississippi
Best for: Superior customer service – Caribou
- Starting APR
- 4.18%
- Term
- 24 to 84 months
- Amount
- $5k – $125k
- Min. credit score
- None
- Dedicated customer support team
- No payments for 45 to 90 days
- Check rates without hurting your credit score
- Does not refinance motorcycles or commercial vehicles
- Customer service not available Sundays
Caribou is our top pick for customer service because 99% of LendingTree users who refinanced with Caribou recommend it. Caribou also offers a dedicated support team and auto refinance videos to help you understand refinancing and if it’s right for you.
Note that you can’t get in touch with a customer service representative on Sundays, as Caribou’s hours are limited to six days a week.
To refinance a car with Caribou, you must meet the requirements below:
- Credit score: None
- Minimal annual income: $24,000
- Vehicle restrictions: Car must be 20 years old or newer, cannot have more than 150,000 miles and must have at least $5,000 left on the current loan
- Residency: Can’t live in Maryland, Nebraska, Nevada or West Virginia
Best for: Cash-out refinancing – Autopay
- Starting APR
- 4.29%
- Term
- 24 to 96 months
- Amount
- $2.5k – $100k
- Min. credit score
- 580
- Get as much as $12,000 with a cash-out refi
- Can reach customer service via text
- Offers other loan options like purchases and lease buyouts
- Customer service not available Sundays
Autopay is a lending marketplace that connects borrowers with multiple partner lenders, potentially giving you more loan options to compare. With a cash-out refinance through Autopay, you could get up to $12,000 in cash and use it for other expenses.
Borrowing from your car’s equity can be risky and may lead to an upside-down car loan, but it can be worth it if you’re facing an emergency or have high-interest debt to consolidate.
Autopay connects borrowers to partner lenders and financial institutions. These partners all have different eligibility requirements.
To use the marketplace, you and the vehicle you’re financing must meet the requirements below:
- Credit score: 580+
- Income: At least $2,500 per month
- Vehicle restrictions: Car must be less than 10 years old and have no more than 150,000 miles
- Administrative: You must provide your driver’s license, insurance, proof of income and residence and a payoff letter if you’re refinancing
Best for: Refinancing large car loans – Auto Approve
- Starting APR
- 4.49%
- Term
- 12 to 96 months
- Amount
- $10k – $150k
- Min. credit score
- 600
- Refinances up to $150,000
- Offers auto lease buyouts and motorcycle/RV refinancing
- Check rates without hurting your credit
- Charges doc fee
- Won’t refinance commercial or company-owned vehicles
Auto Approve stands out for offering auto refinance loans of up to $150,000, which could make it an option for borrowers with expensive vehicles, such as luxury cars, high-end pickup trucks and SUVs.
However, not everyone will qualify for the maximum loan amount. Your eligibility and loan terms will depend on factors such as your credit, income and car. Learn more about how to qualify for auto refinancing.
To qualify for a car refinance loan with Auto Approve, you’ll need a credit score of at least 600, a minimum monthly income of $2,000 and your car must be 20 model years or newer.
To finalize your loan, you must provide:
- Driver’s license
- Valid vehicle registration
- Proof of insurance
- Paystubs
- Proof of income
Best for: Refinancing with a direct lender – Happen Bank
- Starting APR
- 4.49%
- Term
- 24 to 84 months
- Amount
- $4k – $100k
- Min. credit score
- 600
- Pays your old lender for you
- Fast application, approval and payoff process
- Check rates without hurting your credit
- Charges an origination fee for loan amounts greater than $7,500
- Customer service not available on weekends
Many of our top auto refinance loan picks are marketplaces, but you should consider Happen Bank if you prefer working directly with the lender itself.
When you get a Happen Bank loan, you also gain access to its mobile app. There, you can see your credit score and credit report anytime and track your loan repayment progress.
Happen Bank is transparent about its eligibility requirements, which makes it easy to check whether you’re likely to qualify for a refinance. To be eligible, you need to meet the following criteria.
- Credit score: 600+
- Location: Happen Bank doesn’t offer auto refinance loans in Alaska, Hawaii, Maine, New Hampshire, North Dakota, Vermont, West Virginia, Wyoming, Washington, D.C., or the U.S. territories.
- Car age: 10 years old or newer
- Mileage: Less than 120,000 miles
- Vehicle restrictions: Daewoo, Hummer, Isuzu, Nissan Leaf, Oldsmobile, Pontiac, Saab, Saturn and Suzuki
Best for: Refinancing with bad credit – OpenRoad Lending
- Starting APR
- 5.49%
- Term
- 36 to 84 months
- Amount
- $7.5k – $100k
- Min. credit score
- 460
- Can qualify with a low credit score
- Low income requirements
- Receive offers within minutes
- Charges an origination fee
- Won’t finance self-employed people
- No customer service on weekends
While many auto lenders require fair credit or better, OpenRoad Lending’s minimum credit score is just 460 — making it our top choice for refinancing with bad credit. There are other auto loan refinancing companies for bad credit, but OpenRoad stands out for its low credit score and income requirements.
Compared to its credit score requirements, OpenRoad’s vehicle requirements are a little strict. It only refinances cars that are eight model years old and newer.
To qualify for refinancing through OpenRoad Lending, you’ll need to meet the following criteria:
- Credit score: 460+
- Income: $1,500+ monthly (income from ride-sharing services or self-employment doesn’t qualify)
- Car requirements: Must be eight model years old or newer and have 140,000 miles or less. Can’t be a commercial car, motorcycle, recreational vehicle (RV), Oldsmobile, Daewoo, Smart Car, Isuzu or truck larger than 3/4 ton. The car must still be manufactured.
What is auto refinancing?
Auto refinancing is when you take out a new loan to pay off your original car loan, usually with a different lender. Most people refinance to get a lower monthly payment through a better interest rate or a longer term.
You’ll apply for a new loan and get offers based on your credit score, personal financial information and the value of your vehicle.
Here’s how auto refinancing could help you:
Lower interest rate
If interest rates have dropped or your credit score has improved, you could qualify for a lower APR and lower your monthly payment.
Cheaper payment with longer term
You could extend the loan term, which could lower your monthly payment. Keep in mind you will likely pay more in interest over the longer term, but it may be worth it if you can’t afford your car payment.
Pay off loan sooner
If you have additional income or extra cash, you can shorten the term and pay off the loan earlier, saving money on interest.
Add or drop a co-signer
You can add or drop a co-signer or co-borrower when you refinance. The new loan offer will be based on the applicant(s) for this loan.
LendingTree research on car ownership found:
- 39% of Americans say they can’t afford to own a car
- Americans with active auto loans spend 15.0% of their income on car costs
- The average loan payment is $7,275 annually
Refinancing your car could help ease the financial burden of car ownership and free up cash for other living expenses.
When should you refinance your car loan?
When refinancing may make sense
- Your credit score has improved
- Your income has increased
- You qualify for a better interest rate
- You have positive equity and want to do a cash-out refi
- You’re having trouble making the current payment
When refinancing may not be worth it
- You’re close to paying off your loan
- Your car isn’t worth much due to age or mileage
- New rates aren’t substantially better
- You bought your car recently (less than six months ago)
- Fees, taxes and title costs outweigh savings
Estimate your auto refinance savings
Refinancing results
Monthly Payment
Refinancing increases your monthly payment by $117.
Remaining Months
Refinancing decreases your loan term by 46 months.
Remaining InterestThis is the estimated interest you have left to pay on your auto loan based on your current balance, interest rate and remaining payments.
Refinancing at a different rate or loan term may change how much interest you pay over the life of the loan.
This is the estimated interest you have left to pay on your auto loan based on your current balance, interest rate and remaining payments.
Refinancing at a different rate or loan term may change how much interest you pay over the life of the loan.
Refinancing decreases your interest cost over your auto loan by $21,713.
How to qualify for an auto refinance loan
You have to qualify for an auto refi loan just like any other auto loan. Here’s what you need to finance a car and what lenders consider:
Personal information
- Credit score
- Payment history
- Employment history
- Residence status (rent or own)
- Debt-to-income ratio
Vehicle information
- VIN (vehicle identification number)
- Make and model
- Age and mileage
- Remaining loan term
- Loan-to-value ratio
How to compare auto refinancing with LendingTree lenders
You’d shop around for flights. Why not your loan? LendingTree makes it easy. Instead of applying to just one lender and hoping for a good rate, see multiple lenders compete for your business — so you can choose the best offer.
Tell us what you need
Take two minutes to tell us what you need to refinance. We’ll take care of the rest. It’s free, simple and secure.
Shop your offers
LendingTree users get at least three auto loan refi offers on average, even if they have bad credit. Compare your offers side by side to get the best deal.
Get refinanced
Choose an offer, finalize your loan and you could have the money you need within 24 hours.
A LendingTree study found that LendingTree users saved an average of $142 a month on their auto loans by refinancing. Experian reports an average monthly savings of $83.
While these studies aren’t directly comparable, they point to the same takeaway: many people pay less after refinancing their car loans. Actual savings depend on factors like your credit score and the car you’re refinancing.
How your credit score can affect your auto refinance options
Eligible LendingTree users may receive up to five offers from multiple lenders, but the number of offers depends on their financial profile. Each offer will have its own individual rates, repayment terms and monthly payments. The more offers you get, the more opportunities to find a refinance loan that works for you.
Using anonymized data, we analyzed LendingTree users who received at least one offer through our platform to see how credit score can affect how much choice you have in picking an auto refinance lender.
| Credit tier | Avg. number of offers | Avg. number of lenders that presented an offer |
|---|---|---|
| Excellent (800 and above) | 21 | 4 |
| Very good (740-799) | 22 | 4 |
| Good (670-739) | 21 | 4 |
| Fair (580-669) | 11 | 3 |
| Poor (under 580) | 4 | 2 |
This data shows that the higher your credit score, the more loan options you may have, including the number of offers you receive and the lenders offering them. Borrowers with bad credit may still be eligible but likely won’t have as many offers and lenders to pick from.
Before joining LendingTree, I was a quality assurance analyst and agent for a major car insurance company, where I listened to thousands of customer service calls. Trust me that paying a little extra for a more dependable company is almost always worth it. Researching takes homework but the way a lender communicates and handles issues is as important as the rate itself.
Can you refinance a car with bad credit?
Yes, you can refinance a car with bad credit, but you will likely pay a higher interest rate than someone with a better credit score. The lender may ask for proof of current income and other debt payments as part of the application process.
If you have bad credit, you may not qualify for a low enough interest rate to make refinancing worthwhile. You may need to shop around with the best bad credit auto refinance companies to find a loan offer that lowers your monthly payment.
When refinancing with bad credit makes sense
- Your car is worth more than you owe
- You’re having trouble making your monthly payment
- You can add a co-signer with good credit
When refinancing with bad credit doesn’t make sense
- Your credit score hasn’t improved
- Rates are higher than when you bought your car
- The new loan would cost more overall
This page helps you compare lenders based on your needs. If you want to see how rates vary by credit score, check out our guide to average auto refinance rates.
How we chose the best auto refinance lenders
We reviewed around 30 lenders and loan marketplaces that offer auto refinance loans to determine the overall best seven auto refinance loans.
According to our systematic review process, the best auto refinance loans come from Hello Refi, Southeast Financial Credit Union, Caribou, Autopay, Auto Approve, Happen Bank and OpenRoad Lending.
To make our list, lenders must offer benefits that help it stand out from competitors, like high LendingTree user scores and a seamless refinance experience. From there, we prioritize lenders based on the following factors:
- Accessibility: We chose lenders with auto loans that are available to more people and require fewer conditions. This may include lower credit requirements, wider geographic availability, faster funding and easier and more transparent prequalification, preapproval and application processes.
- Rates and terms: We prioritize lenders with more competitive starting fixed rates, fewer fees, and greater options for repayment terms, loan amounts and APR discounts.
- Repayment experience: For starters, we consider each lender’s reputation and business practices. We also favor lenders that report to all major credit bureaus, offer reliable customer service and provide any unique perks to customers, like free wealth coaching.
LendingTree reviews and fact-checks our top lender picks on a monthly basis. We partner with dozens of auto lenders, but partners and non-partners receive equal treatment in our systematic scoring and review process. Read more about our editorial guidelines and standards.
Frequently asked questions
Most lenders prefer that you wait at least until the title paperwork is completed, which can take three to six months. Six to 12 months is also a rule of thumb to build a good payment history.
Applying for the loan can cause a short-term drop in your credit score due to the hard credit pull. Overall, making auto loan refi payments on time can help you build a positive payment history, which can improve your score over time.
While there are no legal limits, lenders may be reluctant to refinance a car several times. You may pay origination or other fees each time, and may pay more interest over the extended life of the loan.
Yes, you can refinance an upside-down car loan depending on how much the vehicle is worth and the remaining loan balance. You may have to make a cash down payment or pay off the difference before a lender will refinance an upside-down car loan.
It all depends on the lender. Some lenders will not refinance their own loans or offer competitive rates. It’s best to get quotes from multiple lenders to make sure you’re getting the best deal when you refinance.