Auto Refinancing
Lower your monthly car payment
Checking your rate is free and won’t impact your credit score.
Lower your monthly car payment and save
Our online process makes it fast and easy to refinance your car loan and save money.
Affordable monthly payments
Reliable support
No prepayment penalty
How it works
1
Check your rate
2
Confirm your details
3
Drive off with savings
Is my current auto loan eligible?
To qualify, your car must be:
10 years old or newer
A personal-use automobile
Under 130,000 miles (or 150,000 for trucks)
And your current auto loan must have:
An outstanding balance greater than $5,000
At least 3 monthly payments made
FAQs
- What is an auto refinance loan?
- An auto refinance loan is when you pay off your existing car loan with a new loan. When you refinance, you can lower your monthly payment and free up more cash for your other regular expenses, and you may be able to save money overall by getting a lower interest rate.
- How do I decide if I should refinance my auto loan?
- Many people decide to refinance their auto loans to take advantage of a lower car payment, pay less in interest, and / or pay off their loans faster. Auto refi can be most helpful if your credit score has improved since you bought your car. On average, Upgrade customers can save $115 a month.* Over a year, that adds up to $1,380! It takes a couple of minutes to check your rate. Checking your rate is free and has no impact on your credit score. Check your rate and see how much you can save!
- What are the benefits of refinancing my car through Upgrade compared to dealer financing?
- Getting an auto refi loan through Upgrade can help you save on interest or lower your monthly car payment. If you financed your car through a dealer, they may have added a premium to your loan, known as dealer markup. Plus, there’s no prepayment penalty, so you can refinance today and pay off at any time. Get started by seeing if you qualify now.
- What is the process for refinancing my auto loan?
- Refinancing your auto loan is simple. First, check your rate and apply online. Once you’re approved, you’ll need to share some documents to finalize your new loan. We’ll guide you through each step.
- What documents are required to get an auto refinance loan?
- Once you’re approved for an auto refinance loan, you’ll need to send some documents before your funds can be deposited. The documents we ask for typically include your vehicle registration card, proof of insurance, as well as a form that helps us use your car as collateral. The process is simple and we’ll walk you through each step so you can get your funds as quickly as possible.
- How is my current auto loan paid off?
- After approval, Upgrade will directly pay off your existing auto loan and obtain the title from the current finance company. Please keep in mind, it may take up to 2 weeks before the payoff is completely processed. Monitor the status of your existing auto loan during that time frame and continue to make any payments that might be due while the payoff check is in transit. If there is an overpayment, you will be refunded the difference from your lender.
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Manage your account with the app
Need Help?
Email us at
support@upgrade.com