Refinance your existing auto loan.

Whether you bought your vehicle four months ago or four years ago, refinancing your auto loan can be a great way to save some money on interest. Here’s a look at why you might want to refinance your auto loan, when you can do it, and how a refi might be the best way to snag a competitive interest rate.

For borrowers looking to lower the monthly payment or interest rate on their auto loan, refinancing is an option worth considering. Through auto loan refinancing, a car owner can pay off their existing loan and replace it with a new one, which they then pay off to the lender (either a new lender or, in some rare instances, the same one as the prior loan).