Best Auto Refinance Lenders in 2026: Compare Top Picks
From lower payments to cash-outs, get matched with auto refinance lenders tailored to your situation
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What is auto refinancing and what can it do for you?
Auto loan refinancing is the process of taking out a new car loan to pay off your existing one. Once the original loan is paid in full, you’ll make payments under the terms of the new loan.
You may be able to refinance and keep your current auto lender, but not all lenders will refinance their own loans or offer refinancing at all. Besides, you might find a better rate by shopping around. Other than possibly reducing your interest rate, refinancing can also help you:
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Lower your monthly payment.
Reduce your car payment by qualifying for a lower rate or switching to a longer loan term. A longer loan means more total interest, but it can be a good choice if it helps you keep your car. -
Gain access to cash.
Borrow against your car’s equity with a cash-out refinance. Although you’ll undo some of the progress you’ve made paying off your car so far, the money could help you out of an emergency. -
Remove or add a co-borrower.
Refinancing is usually required to remove someone from your current car loan. And adding a co-borrower to your new loan may also help you get a lower rate. -
Enjoy better benefits and service.
Poor customer service from your current lender is a perfectly reasonable reason to refinance your car loan. The typical car loan lasts from 12 to 84 months. That’s a long time to be stuck with a company you aren’t happy with.
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 $77.
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 to choose the right auto refinance lender for your situation
Now that you know what refinancing can do, the next step is choosing a lender. Start by identifying your main goal. Then, focus on lenders that support it. Instead of searching for lenders one by one, you can compare multiple options at once with LendingTree.
| If you want to … | Look for lenders that … |
|---|---|
| Lower your rate | Offer competitive pricing for good credit and have shorter loan terms |
| Lower your monthly payment | Offer longer loan terms and/or lower APRs |
| Get approved with bad credit | Have flexible eligibility criteria |
| Refinance your car and get cash in hand | Offer cash-out auto refinancing |
| Add or remove a co-borrower | Allow co-borrower changes during refinancing (most do) |
Best auto refinance loans at a glance
How your credit score can affect your auto refinance options
Eligible LendingTree users may receive multiple offers from up to five lenders, but the number of offers users receive 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.
How to check a lender’s customer service before you choose
Take the following steps and make sure that the company you’re choosing is legit and easy to work with before finalizing your loan.
The Consumer Protection Financial Bureau (CFPB) maintains a database of public complaints made against financial companies, including auto lenders.
Larger companies will naturally have more complaints than smaller ones, so look for patterns like repeated issues with payment processing or customer service. Having some complaints isn’t unusual, but consistent problems around the same topic can be a red flag.
For more information, see the CFPB customer complaint database.
The Federal Trade Commission (FTC) takes action against companies that engage in deceptive or unfair business practices. Most lenders won’t have an FTC history, but it’s a good idea to do a quick search.
An FTC action doesn’t automatically mean a lender is off-limits, but it can help provide context, especially if the enforcement action was due to fees or collections.
For more information, see the FTC Legal Library.
In addition to public records, borrower reviews can provide some insight into what it’s really like to refinance with a lender. LendingTree user reviews highlight real experiences.
When reading reviews, look beyond star ratings and read specific details. Comments about communication, the application process or smooth title transfers can be especially helpful.
For more information, see LendingTree user reviews.
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.
How to compare auto refinancing with LendingTree
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.
Estimate your new car payment after refinancing your auto loan
Refinancing can lower your monthly car payment, reduce the total interest you pay or help you pay off your loan faster. The impact depends on your numbers.
For example, if you owe $15,000 with 36 months left on your loan at 9% APR, your payment is about $477 per month.
Refinancing that balance into a 48-month loan at 6% APR would drop your payment to about $352 per month — freeing up roughly $125 each month. The tradeoff is that a longer loan may increase the total interest you pay over time.
Use the auto refinance calculator below to see how refinancing could affect your payment, loan term and total interest based on your situation.
When refinancing your car may not be worth it
Refinancing is a popular personal finance move that can save you money, but it isn’t right in all situations. You may want to reconsider refinancing if any of the following applies.
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You’re close to paying off your current loan:
If you only have a year or two left on your loan, you’ve already paid most of your interest. Interest is usually front-loaded on car loans. -
The rates or benefits aren’t worth the process:
Before refinancing, you’ll want to be sure that you’ll be coming out ahead, whether that means lower rates or better perks. -
You’d need to extend your loan term significantly:
Lowering your monthly payment by choosing a longer loan term can be helpful, but only to a certain extent. Consider the tradeoff between lower payments against more total interest. -
The fees outweigh the savings:
Some lenders or loan platforms charge doc fees, usually for handling the refinance process for you. You should also budget for mandatory state fees, like title transfer and registration. These vary by state. -
You’re upside-down on your car loan:
It’s possible to refinance an upside-down car loan, but it can be expensive and may require a down payment.
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 more than 29 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 , , , , , and .
To make our list, lenders must offer benefits that help it stand out from competitors, like high customer LendingTree user scores and a seamless refinance experience. From there, we prioritize lenders based on the following factors:
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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
Your car may be eligible to refinance, but each lender has its own criteria to meet. You can check a lender’s FAQ section for specific information. You may also be able to prequalify for a loan to see if you’re eligible without hurting your credit.
Below are some common requirements your car must meet before you can refinance it.
- Vehicle age: Usually must be 10 years old or newer, though some lenders may accept older
- Mileage: Typically must have less than 125,000 or 150,000 miles on the odometer
- Insurance status: Comprehensive and collision (full coverage insurance) is generally required
- Title status: Usually cannot have a salvage or branded title
- Vehicle type: Some lenders will not refinance cars that are no longer in production
- Vehicle worth: May not be eligible for refinancing if the car is worth less than what you owe
Refinancing a car loan can be a good idea, but it doesn’t make sense for everyone. Refinancing your car can be a good idea if you:
- Qualify for a lower interest rate on an auto refinance loan
- Need to add or remove someone from your car loan
- Want a lower monthly payment, even if it may mean more total interest
It can cost money to refinance a car, but fees are usually rolled into your loan. That means that fees will accrue interest, but you won’t have to pay them out of pocket.
Some common auto refinance fees include:
- Doc, admin fees or origination fees, which are charged by the lender and meant to cover overhead like filing DMV documents on your behalf.
- State fees, like title transfer and registration fees. These are mandatory and vary by state.
It’s usually best to wait at least six months after buying your car before refinancing your auto loan. Applying for two loans too close to each other (in this case, your first auto loan and then your auto refinance loan) can negatively impact your credit score. If your credit score drops, then your auto refinance rate might be more than what you’re paying on your current auto loan.
The best bank to refinance your car depends on a lot of factors, including your credit score, the car you want to finance and what you’re looking for in a lender.
Based on LendingTree’s research, we found that the best auto refinance lenders are:
- : Best auto refinancing overall
- : Best cash-out auto refinancing
- : Best auto refinancing with superior customer service
- : Best for refinancing with a direct lender
- : Best for a fast and easy experience
- : Best for bad credit auto refinancing
- (SFCU): Best credit union auto refinancing
Refinancing an auto loan can affect your credit score, since you’ll need to submit to a hard credit pull when you apply for a loan. This can cause your score to drop by a few points temporarily. However, as you repay your car loan, your score will gradually increase again.
You usually don’t need a down payment to refinance a car. A down payment is typically only required when you’re upside down on your car loan (i.e., you owe more than it’s worth). You also might have to make a down payment to refinance if you have bad credit, but that’s up to the lender.