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Best auto loans for refinancing?

Have made your payments over the last couple of months and now looking for the best auto loans for refinancing?

Nicholas Hinrichsen - Published: September 4, 2020

You came to the right place! In the table below, you can find the auto loan rates you can expect if you chose to refinance today:

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%

Take a look at our article about the 24 best auto loan refinancing companies should you be thinking about refinancing but haven't chosen a provider, yet. Auto loan refinancing works well for three reasons:

  1. 79% of all car shoppers get their loan at the dealership. Car dealers mark up your interest rate to make more money on you. That means, already the day you got your loan you could refinance it and save thousands.
  2. Over the course of time, you will improve your credit through making your payments on time. With improved credit, you would automatically qualify for a better rate. Your current auto loan company, however, won't tell you that. They prefer for you to keep the high rate to make more profit.
  3. The FED has recently lowered the central bank's borrowing rates to 0%. Whenever the FED lowers the rates, these changes usually translate into lower car loan and mortgage rates as well.


Haven't explored refinancing yet?
WithClutch.com is a 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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