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Car Loan Refinancing
Find out if you could get a better rate, lower payment, or shorter loan today
Auto loan refinancing is provided and serviced by a third party.. Read more
How to refinance your auto loan
Refinancing your car loan starts with checking your rate. Then you'll confirm details about you, your vehicle, and your current car loan. Once your new loan application is approved, your current loan will be paid off and your title will be updated. Enter your ZIP code to find out if auto loan refinancing is available in your state.
When should you refinance your car loan?
Refinancing your car loan can make sense if you want a lower rate, better loan terms, or a different repayment schedule. Refinancing your car loan through Upstart may be right for you if your car is less than 12 years old and has less than 140,000 miles on it. Your current loan should have a balance of $3,000 to $60,000,** and your current loan needs to have been in place for at least a month.
Check your auto refinance rate if…
You want a lower interest rate
Refinancing your auto loan could help you access a lower rate, which could reduce your payments and the total cost of your car loan.
You want a lower payment
If you need a lower car payment, refinancing could help you get a loan that fits your current budget.
You want a shorter loan
Ready to pay off your car loan faster? Check your refinancing options to see if you can save with a shorter-term loan and a lower interest rate.
Frequently asked questions about auto loan refinancing
Is refinancing a car worth it?
Refinancing your car can be worth it, since it may give you a lower rate or payment or a shorter loan term. Upstart's refinancing model looks beyond your credit score to get you the rate you deserve. Plus, there are no application, prepayment, or origination fees.
What documents do I need to refinance my car?
You may need to provide the following documents when you refinance your car loan:
- Documents to verify your identity, education,†† and income
- A copy of your vehicle registration
- Your proof of insurance
- A co-owner consent form, if applicable
- Proof of resolution if you've had an open claim or second lien on your vehicle
How long does the auto refinance process take?
You can check your rate in just five minutes. After you've applied, Upstart will verify the details of your application, such as your insurance coverage and registration. This typically takes just one to two weeks. From there, Upstart will handle the title administration process, which may take between 30 to 60 days to complete.
Does refinancing a car loan affect my credit?
When you check your rate, Upstart checks your credit report. This initial (soft) inquiry won't affect your credit score. If you accept your rate and proceed with your application, Upstart does another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.
