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Auto loan for refinancing?

Nicholas Hinrichsen - Published: April 1, 2021

Upset about your monthly car payments, hoping to get some cash or or looking for an auto loan for refinancing?
When people are in the process of buying a car, they usually follow the following 5 steps:

  1. Look for vehicles on AutoTrader, Cargurus or Cars.com
  2. Submit contact details, mostly email address and phone number
  3. Get bombarded with calls, emails and text messages from eager sales guys
  4. Schedule an appointment to test-drive a vehicle
  5. Apply for an auto loan at the dealership and conclude the purchase paperwork

We've observed that people who are in the process of buying a car in 90% of the cases follow that exact pattern. As a result, we weren't very surprised to find that 79% of all car shoppers get their auto loan at the dealership. Banks pay dealers loan referral fees and therefore, the loan you're getting at the dealership is sub-optimal and you should refinance it.

To get an auto loan for refinancing is a different process though. Your car dealer won't help you with that and our existing auto loan company has not interest in losing profit through refinancing you. Traditionally, finding an auto loan for refinance and comparing rates was a tedious and cumbersome 100% offline process. We've changed that and now you can get approved for refinancing at the right rate 100% online.undefined

Haven't explored refinancing yet? Take a look at our exhaustive article about all the auto refinance companies and you will realize,
WithClutch.com is the only fully digital platform that lets car owners like you do so from the comfort of their own home. No need to set a foot in a bank or credit union. You can lower your rate or get cash in as little as 20 seconds.

Follow three simple steps to refinance your auto loan, get approved in seconds and save thousands in minutes.

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