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Auto loan refinance rates?

Nicholas Hinrichsen - Published: August 1, 2021

The FED recently announced a drop of rates to 0%. Wondering what auto loan refinance rates are today?
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Auto loan companies are hesitant to publish refinance rates. See below our current rates.

Credit ScoreNew carUsed car
760+2.69%3.49%
700-7603.00%4.25%
650-7005.50%6.50%
600-6509.75%10.75%
550-60015.50%17.50%
Below 55022.00%22.00%


Auto loan companies don't usually publish their refinance rates because they don't really want you to refinance your loan. We found two reasons for why that is:

  1. Auto loan companies make more money from customers who have diligently made all their payments. Those are the loans the lenders love. When you refinance your loan, the auto loan company makes less money.
  2. Auto loan companies get most of their business referred from car dealers. Dealers earn a referral fee. If a car owner refinances her car loan, the auto loan company will claw parts of the referral fee back from the car dealer. The auto loan company wants to keep the dealer happy and therefore prefers for you to not refinance.


As you can tell, interests between the car dealer, auto loan company and you the car owner are not aligned. Neither the dealer nor the bank have your best interest in mind. 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.