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Auto loan refinance how long to wait?

Nicholas Hinrichsen - Published: January 15, 2021

How long should you wait before getting auto loan refinancing?
Here's some rough rules of thumb for what you need to know before determining whether "now" is the right time to refinance your auto loan. You should refinance as soon as:

  • Your car is close to "positive equity". What that means is that the Kelly Blue Book or Black Book Value is close to the outstanding loan balance.
  • Your credit has improved by at least 30 points. In these cases you're entitled to lower rates
  • You've made all your payments on your car for at least 6 months
  • Interest rates have not gone dramatically up (although this is less of an issue for auto loans)


If you'd checked all of the boxes above - go out and try to get your lower rate!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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