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The Best Auto Loans for Refinancing of 2026
RefiJet, myAutoLoan, AUTOPAY, Lending Tree, and Digital Federal Credit Union are our top picks for auto loan refinancing.
Best Overall
Editor's Rating:
5/5
5/5Fastest Refinancing Process
Editor's Rating:4.3/5
4.3/5Best with Bad Credit
Editor's Rating:3.9/5
3.9/5Last updated: June 9, 2026
Like many Americans struggling to pay in full for the exorbitant cost of a new or used car in 2025—about 28 percent higher than before the pandemic—you may have had to take a loan on your vehicle with a not-so-ideal annual percentage rate (APR).1 Interest rates remain high, though in 2025, loan rates for new cars saw a slight increase, while rates for used cars decreased marginally.2
Whether you want to refinance your auto loan because interest rates have dropped, you’ve improved your credit score, or you want to secure a fixed rate, it’s important to know which lenders will offer you the best deals for your needs. Different lenders offer different pros and cons, depending on your finances and membership status.
From credit unions and banks to online aggregators, we’ve compiled our favorite auto loan lenders for refinancing your auto loan.
Another way to save money on your monthly car payments is to shop around for car insurance. We’ve assembled a guide to help find the best auto insurance for your needs and budget.
Comparison of the Best Auto Loans for Refinancing
| Auto loan provider | RefiJet | myAutoLoan | AUTOPAY | LendingTree | Digital Federal Credit Union (DCU) |
|---|---|---|---|---|---|
| Best for | Overall | Drivers who want to refinance quickly | Drivers with bad credit | Drivers seeking low interest rates | People who want to join a credit union (or existing DCU members) |
| Age of the company (in years) | 10 | 21 | 18 | 29 | 45 |
| Loan provider or aggregator | Aggregator | Aggregator | Aggregator | Aggregator | Loan provider |
| Loan terms | 24-96 months | 24-72 months | 24-96 months | 12-96 months | 36-84 months |
| Minimum annual percentage rate (APR) | 4.29% | 4.20% | 4.29% | 3.50% | 4.99% |
| Minimum loan amount to refinance | $5,000 | $5,000 | $2,500 | $250 | None stated |
| BBB accreditation? | Yes | Yes | Yes | Yes | No |
| BBB rating (A-F) | A+ | A+ | A+ | A+ | A+ |
| Trustpilot rating (out of 5) | 4.8 | 3.5 | 4.6 | 4.5 | 4.9 |
Summary of the Best Auto Loans for Refinancing
- Best Overall: RefiJet
- Fastest Auto Loan Refinancing Process: myAutoloan
- Best for Bad Credit: AUTOPAY
- Best Interest Rates: LendingTree
- Best Credit Union: Digital Federal Credit Union
HERE’S YOUR SIGN:
There are a few reasons to consider refinancing. Here are four signs that it may be time to secure a new loan:
- Interest rates have dropped.
- Your credit score has improved.
- Your income has increased or decreased significantly.
- You’re unhappy with your current auto loan.
Detailed List of the Best Auto Loans for Refinancing
1. RefiJet - Best Overall
5
Editor's Rating:
Excellent customer service ratings- Personalized support during refinancing process
- Strong data security
RefiJet offers auto loan refinancing and lease buyouts. With RefiJet, you can expect flexible loan terms, high customer service marks, and a personalized loan process. After getting prequalified, you work directly with a RefiJet agent, who helps you choose the best lender and handles all the paperwork. Moreover, RejiJet serves those with different credit profiles, making its refinancing services accessible.
Who It's Best For- Drivers who want flexible loan terms
- People who prioritize customer service when dealing with loans
- People with FICO scores of 500 or more
- People with vehicles less than 10 years old
Who It's Not Best For
Drivers with less than $5,000 remaining on their car loans- Drivers looking for quick refinancing
Stellar Customer Service Ratings
RefiJet has an A+ rating from the Better Business Bureau (BBB) based on its accreditation and business practices. The company received its BBB accreditation in 2016.
In addition, its Trustpilot review score is 4.8, which is the second-highest on our list. Many of its five-star reviews on Trustpilot indicate excellent customer service and a stress-free transition to refinanced loans. Negative reviews note that RefiJet representatives may be hard to reach after customers sign the loan contract.
Strong Data Security
When you refinance your car loan, you’ll need to provide sensitive personal and financial information. Foujita uses encrypted technology and secure document-sharing tools to help protect customer data throughout the application process. The company also states that it conducts regular security testing and follows industry standards for data protection.3
If you’re concerned about sharing personal information online, RefiJet’s security measures may provide additional peace of mind while shopping for a refinance loan.
Borrower-Friendly Perks
RefiJet offers a few benefits that can help borrowers manage their new loan more easily. After finalizing your new loan, you have the option to defer your payment for up to three months. Some lenders in RefiJet’s network also offer interest rate discounts for enrolling in automatic payments. While loan terms and benefits vary by lender, these perks can give you flexibility and help lower the cost of refinancing.
2. myAutoloan - Fastest Auto Loan Refinancing Process
4.3
Editor's Rating:
- Low starting APR
- Flexible loan terms
- Quickest approval and funding process
- Credit-dependent rates
- Limited rate transparency
A subsidiary of Horizon Digital Finance, myAutoLoan is a privately held, direct-to-consumer online marketplace that connects consumers to auto and motorcycle loans. The online company aggregates terms from multiple lenders so that you can compare 4 offers in minutes. One of the main benefits of myAutoLoan is its user-friendly website, which provides convenient access to loan information from several vetted lenders.
Who It's Best For- People who want fast approval and multiple loan offers
- People with FICO scores of 600 or higher, one of the requirements to refinance
- Drivers looking for loans of $5,000 or more
- Drivers on a budget
Who It's Not Best For- People with gross annual incomes under $18,000
- Drivers in Alaska and Hawaii
Requirements for Refinancing
To refinance your car with myAutoLoan, you must have had a loan for at least six months and have three years of credit history. Depending on the lender, there may also be income requirements, typically gross annual earnings of at least $18,000. Before you refinance, consider whether your credit score will allow you to secure a lower interest rate than your original loan. myAutoLoan requires a FICO score of 600 or higher.
Benefits of Multiple Lender Matches
MyAutoLoan gives applicants up to four lender matches with a soft credit check. As of June 2026, the lowest refinance auto rate is 4.20 percent. Most myAutoLoan lenders provide approval within 30 seconds of application submission. With multiple lenders, you can find one that fits your specific situation, for example, if you need a cosigner.
Fast Funding
With My AutoLoan, not only can you get loan offers quickly, but you can also get your new loan funded in record time. After approval, you apply directly to the lender of your choice. MyAutoLoan mentions that once your application is complete, you’ll receive funding within 24 hours.
A fast turnaround can be especially helpful if you’re looking to lower your monthly payment or adjust your loan terms as soon as possible. This can be especially helpful if your financial situation has changed unexpectedly, such as a job loss or a medical emergency.
WHEN TO REFINANCE A CAR LOAN:
After a new car purchase, you should wait at least six months to a year before refinancing to give your credit report and score time to recover and build up a payment history.4 To see a benefit from refinancing, you should have at least two years remaining on your loan.5
3. AUTOPAY - Best for Bad Credit
3.9
Editor's Rating:
- Most flexible loan terms
- Low minimum loan amount
- Soft credit score check
- Terms vary by lender
- Fees not always transparent
Based in Denver, AUTOPAY specializes in auto refinancing and new purchase financing. Apply for a refinanced loan in minutes to save an average of $132 on your monthly payments. With AUTOPAY, you can apply for a traditional refinancing loan, receive cash back to consolidate debt, or pay off your lease early with a lease buyout. The company works with customers across the credit spectrum to find fair rates.
Who It's Best For- People who use mobile devices for banking
- People with bad credit or no credit history
- People who want cash-back refinancing
- People who want to choose from multiple lenders
Who It's Not Best For- Someone who wants to compare rates from multiple providers at once
- Someone who wants to avoid processing fees from their lender
Variety of Refinancing Options
AUTOPAY offers three refinancing options. Not all lenders and aggregators offer cash back and lease buyout options for refinancing, and AUTOPAY provides more flexibility for unique situations:
- Traditional: Traditional refinancing reduces your monthly payments or interest, shortens the length of your loan, and allows you to change the persons listed on your loan. Most of all, traditional financing can offer better terms.
- Cash back: With cash back, receive as much as $12,000 and use the funds to pay high-interest obligations or personal costs or to consolidate debt. In addition to better terms, cash back refinancing gives you direct access to additional cash.
- Lease buyout: A lease buyout pays off the balance of your leased vehicle, avoids end-of-lease fees, and allows you to keep your car at the end of your base term. Lease buyouts reduce your monthly payments and provide a new loan with better APR and terms.
Refinancing with No Credit
Not all lenders and aggregators offer beneficial terms to people with bad credit. However, AUTOPAY helps people with no, inactive, or low credit find auto loans. Here’s how to find a lender through AUTOPAY if your credit score is not as high as it could be:
- Gather documents: Get together your proof of employment history, pay stubs, previous addresses, bills and driver’s license.
- Find a cosigner: You may need a cosigner on your loan if you lack credit history.
- Save for a larger down payment: The larger the down payment, the less money you’ll need to borrow and the lower your monthly payments will be. If you can swing 20 percent, it shows you’re serious about making regular payments
- Pay a higher interest rate: A cosigner with good credit can offset the risk, but your interest rate may still be higher than that of someone with good credit.
Like most aggregators, each lending partner has different approval criteria; this is how AUTOPAY provides financing solutions for people with good and bad credit.
Auto Refinance Calculator
AUTOPAY has a convenient auto refinance calculator on its website to give you an estimate of how much refinancing will save you. Last year, AUTOPAY saved borrowers an average of $1,579 by refinancing their car loans, lowering APRs by 50 percent.6 Here’s what you need to get started:
- Current monthly payment
- Balance left on loan
- Remaining loan term
- New loan term
- Credit score (rebuilding, average, or excellent)
4. LendingTree - Best Interest Rates
4.3
Editor's Rating:
- Among the lowest APRs
- Flexible term lengths
- High customer satisfaction scores
- Partner-dependent pricing
- Limited underwriting control
LendingTree is an auto loan aggregator that helps you compare lenders and rates. The company offers the lowest minimum APR on our list (3.50 percent), making it one of the best auto loan aggregators for new car owners. LendingTree also offers multiple refinancing options to lower your payment or APR.
Who It's Best For- Someone with good or improving credit
- Drivers who want to consider several loan options
- Someone who wants a low APR
- Drivers looking for LTV ratios of up to 130 percent (meaning 30 more than what the car is worth)
Who It's Not Best For- People who want a 24/7 call center
- Not all lenders offer loan prequalification
Low APRs
LendingTree’s minimum APR is 3.50 percent, which is among the lowest for loan providers and aggregators. If you have good credit and a high income, LendingTree is an easy win. A shorter loan term with a low APR is the best option, so you can accrue less interest and pay off the loan more quickly. Your credit score is the biggest determining factor of APR, so if you have low credit, your APR will be higher.
High Loan Amounts
Your loan amount depends on your provider, but LendingTree provides quotes for up to several hundred thousand dollars (depending on the lending partner), which is more than enough for the average driver in the U.S.
Some of LendingTree’s providers offer up to 130 percent LTV, meaning if you total your car, you’ll receive 30 percent more than its current value to pay for a new car. Gap insurance is another way to cover the remainder of your auto loan if you total your car, and it’s usually required if you have a loan or lease your vehicle.
Top Lenders for Auto Refinancing
Below is a rundown of the top five lenders that LendingTree recommends for auto refinancing. The company will do the legwork of getting your quotes from the appropriate lenders, but this information may be helpful as you compare quotes from multiple companies:
| Lender | Starting APR | Loan amounts | Loan terms |
|---|---|---|---|
| Southeast Financial Credit Union | 3.50% | Up to $100,000 | 12 to 84 months |
| Lending Club | 4.49% | $4,000 to $100,000 | 24 to 84 months |
| iLending | 4.99% | $5,000 to $150,000 | 12 to 96 months |
| OpenRoad Lending | 5.49% | $7,500 to $100,00 | 36 to 84 months |
5. Digital Federal Credit Union - Best Credit Union
4.6
Editor's Rating:
- Among the 20 largest credit unions
- Perks for existing members
- Offers relief program to drivers with bad credit
- Strict underwriting
- Membership required
Digital Federal Credit Union, also known as DCU, is a member-owned, not-for-profit financial cooperative. DCU serves more than 1 million members and families in all 50 states. Headquartered in Massachusetts, DCU is one of the 20 largest credit unions nationwide.7 It offers consumer banking and lending as well as business banking, business lending, and auto insurance.
Who It's Best For- People who prefer credit unions to traditional lenders
- People who want to do business in-person
- Someone who wants to get their auto loan and car insurance from the same provider
- People with bad credit
Who It's Not Best For- Nonmembers of the DCU
- Someone who wants to pay off their loan in less than 36 months
Discounts and Benefits
DCU offers the following discounts and benefits with its refinance loans:
- 60 days of no payments after the closing of the loan (interest accumulates the day DCU funds your loan)
- A membership discount (0.50 percent) for Plus and Relationship members with electronic payments
- Energy efficiency discount (0.25 percent) for fully electric vehicles
- Maximum loan amount of 130 percent of book value
- Same rates for new or used vehicles
Here’s a breakdown of membership options with DCU ― the more a member does with DCU, the more these benefits apply:
- Basic: The basic plan includes no minimum balances or monthly maintenance fees on accounts, free use of DCU branches, ATMs, digital banking options, and debit cards, free account alerts and notifications.
- Plus: Plus includes basic member benefits plus payments 48 hours early with direct deposit, up to $10 per month in ATM fee reimbursements from other institutions, and 0.50 percent discounts on consumer loans with electronic payments.
- Relationship: Relationship members include Plus member benefits and up to $25 per month in ATM fee reimbursements from other institutions and 80 free DCU checks per year.
Affordable Payments
The longer your loan term, the lower your monthly payment. Below is a chart showing loan terms, APR, and estimated monthly payment (EMP) available with DCU.
| Maximum term in months | Lowest available APR | EMP per $1,000 of loan |
|---|---|---|
| 36 | 4.99% | $29.97 |
| 48 | 4.99% | $23.02 |
| 65 | 4.99% | $17.59 |
| 72 | 5.49% | $16.33 |
| 84 | 6.99% | $15.09 |
Frequently Asked Questions
A good interest rate for car refinancing typically ranges from 5 to 7 for borrowers with good credit. If your credit score has improved since you took out your original loan, you may qualify for a lower rate that can help reduce your monthly payment or total interest paid.
| Credit Score | Good Refinance Rate (APR) |
|---|---|
| 781–850 | 4%–6% |
| 661–780 | 6%–7% |
| 601–660 | 9%–10% |
| 501–600 | 13% or lower |
If you can secure a rate below the average for your credit tier, it’s considered a good refinance rate.
Refinancing an auto loan works by replacing your current auto loan with a new one. The new loan pays off your original loan, and you make monthly payments on the new loan instead. Traditional refinancing reduces your monthly payments or interest and shortens your loan length. You can also receive cash back or lease buyout refinancing options from some lenders.
To qualify for auto loan refinancing, you need the following:
- A loan for at least six months
- More than two years left on your loan
- Less than 125,000 miles on your vehicle
- A car less than 10 model years old
- A credit score above 575
You should wait at least six months before refinancing an auto loan. Often, lenders have a waiting period or require the current lender to possess the car’s title, which can take several months to transfer.
The fee for refinancing an auto loan depends on the lender. MyAutoloan, Bank of America and AUTOPAY do not charge fees for refinancing. However, with LendingTree, an aggregator, some of its lenders may charge fees. Caribou, for example, has a steep $399 fee.
Most loan providers and aggregators can get you a quote with a locked-in interest rate as soon as 24 hours after you apply.
Methodology
To compare refinancing options, we looked at information provided by the companies as well as third-party ratings from the BBB and Trustpilot, which aggregates customer reviews online. Your exact loan offer will depend on your vehicle and credit history. Some of the factors we analyzed across the five companies include:
- Age of company
- Loan term lengths
- Minimum APR for refinancing loans
- Loan amounts
- Maximum LTV ratios
- Discounts
- Average total interest savings
- Average monthly savings
- Penalties and application fees
- Availability based on state, age, vehicle, income, credit score and other factors
- Length of the approval process
- Customer service availability
Citations
CoPilot’s Car Price Index Report. CoPilot Search. (2025).
https://www.copilotsearch.com/index-report-01-2025/When Will Auto Loan Rates Go Down? Experian. (2026, May 14).
https://www.experian.com/blogs/ask-experian/when-will-auto-loan-rates-go-down/Large Holding Companies. National Information Center. (2024, Mar 31).
https://www.ffiec.gov/npw/Institution/TopHoldingsWhen to Refinance a Car (and When to Wait). LendingTree. (2023, Jun 27).
https://www.lendingtree.com/auto/refinance/the-best-and-worst-time-to-refinance-your-auto-loan/Is loan refinancing right for you? Bank of America. (2023).
https://www.bankofamerica.com/auto-loans/when-to-refinance-a-car/Refinance your auto loan. AUTOPAY. (2023).
https://www.autopay.com/auto-refinance-calculator/Our Story. Digital Federal Credit Union. (2023).
https://www.dcu.org/about/our-story.html
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