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GUIDE · AUTO LOANS

Refinance Your Car Loan?

Lower the rate without adding years.

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§ 1 · AUTO LOANS

When It Pays

Your credit improved, or you took a high dealer rate. Rates may be lower now.

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§ 2 · AUTO LOANS

Wait a Bit

Six to 12 months of on-time payments often gets a better offer.

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§ 3 · AUTO LOANS

Know Your Payoff

Get the payoff amount, APR and months left from your lender.

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§ 4 · AUTO LOANS

Shop 3 to 5

Banks, credit unions and online lenders. Credit unions are often cheap.

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§ 5 · AUTO LOANS

One Inquiry

FICO counts auto loan checks within 14 to 45 days as one.

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§ 6 · AUTO LOANS

Same Term Wins

Keep the same months left. A longer term can erase savings.

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§ 7 · AUTO LOANS

Watch Fees

State title fees, lender fees and prepayment penalties add up.

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§ 8 · AUTO LOANS

Check GAP

Dealer GAP coverage may end. You may get a prorated refund.

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§ 9 · AUTO LOANS

Keep Paying

Pay the old loan until it shows a zero balance.

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Thanks for Reading

The 6 steps, the real math and the mistakes to avoid, in our full guide.

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