Updated July 13, 2021
Here is the list of Top 10 Auto Refinance Lending Companies
If you are looking up to free up your cash flow or pay off your loan faster, auto refinance is an option you can consider. It could be a great financial decision as refinancing your auto loan could lower your monthly payments, and reduce the total amount of interest you pay on your car loan. Getting an auto-to-refinance loan is a profitable decision in the long term as it reduces your monthly payment and boosts your total savings on interest over the life of the loan.
As any financial decision should not be made lightly, read along to find the Top 10 Auto Refinance companies which provide the best interest rates, minimum loan amounts, repayment terms, and credit score requirements.
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iLendingDIRECT
iLendingDIRECT works with customers who have a bad credit score and help them get qualified for a refinance.
Loan Amount Offered: $7,500 to $80,000
APR Rates: 1.99%
Loan Terms: 12 to 84 months
iLendingDirect Fee charges: none
Credit Score: 560+
- Selected Based on:
- $ APR Rates
- ✓Editor’s Choice
Lending Tree
The plus of going with Lending Tree is that they have their customer support staff which can help you with any queries about your lender or Lending Tree’s service.
Loan Amount Offered: Varies by lender
APR Rates: Starting at 1.99%
Loan Terms: 36 to 60 months
Lending Tree Fee charges: None
Credit Score: 750+
- Selected Based on:
- $ APR Rates
- ✓Editor’s Choice
PenFed Credit Union
Loan Amount Offered: Up to $100,00
APR Rates: Starting at 1.79%
Loan Terms: 36 to 84 months
PenFed Fee charges: yes
Credit Score: 610
- Selected Based on:
- $ Low Credit Score
- ✓Editor’s Choice
RateGenius
Loan Amount Offered: Varies by lender
APR Rates: Starting at 1.99%
Loan Terms: 36 to 60 months
RateGenius Fee charges: None
Credit Score: 720+
- Selected Based on:
- $ APR Rates
- ✓Editor’s Choice
MyAutoloan
Loan Amount Offered: $5,000 to $99,000
APR Rates: As low as 1.99%
Loan Terms: 24 to 72 months
MyAutoloan Fee charges: None
Credit Score: Min Credit Score 575
- Selected Based on:
- $ Low Credit Score
- ✓Editor’s Choice
Lendingclub
Loan Amount Offered: $5,000 to $55,000
APR Rates: 2.24%
Loan Terms: 12 to 60 months
Lendingclub Fee charges: None
Credit Score: 640
- Selected Based on:
- $ No Fee Charges
- ✓Editor’s Choice
AutoPay
Loan Amount Offered: $2,500 to $100,00
APR Rates: Starts at 1.99%
Loan Terms: 24 to 84 months
AutoPay Fee charges: None
Credit Score: Min Credit Score 600
- Selected Based on:
- $ Low Credit Score
- ✓Editor’s Choice
Auto Credit Express
Loan Amount Offered: Not Provided
APR Rates: 3.99% – 29.99%
Loan Terms: Not Provided
Auto Credit Express Fee charges: None
Credit Score: Min Credit Score 580
- Selected Based on:
- $ No Fees
- ✓Editor’s Choice
Lightstream
Loan Amount Offered: $5,000 to $100,000
APR Rates: From 2.49%
Loan Terms: 24 to 84 months
Lightstream Fee charges: None
Credit Score: Min Credit Score 660
- Selected Based on:
- $ APR Rates
- ✓Editor’s Choice
Auto Approve
Loan Amount Offered: $7,500 to $150,000
APR Rates: From 2.24%
Loan Terms: 12 to 84 months
Auto Approve Fee charges: None
Credit Score: Min Credit Score of 580
- Selected Based on:
- $ Low Credit Score
- ✓Editor’s Choice
Auto Refinance Lending FAQs
What is an Auto Refinance loan?
An auto refinance loan is a secured loan used to pay the existing balance on a current auto loan, better terms, or better interest. Refinancing your auto loan could lower your monthly payments, it will also give you a chance to apply for cash-out refinance and earn extra cash, or buy out the lease on your car.
What are the best auto refinance companies?
The best auto refinance companies are the ones that offer comfortable interest rates and work with reliability and transparency. They should also have multiple refinancing options, educational resources, and customer service. Make sure to research the lender before committing to the loan.
How many times can you refinance a car?
You can refinance your car as many times as you want to provide you find a lender willing to extend a new loan. Having said that, you might find it a bit difficult to find a lender as they may be a bit apprehensive if they see past multiple refinancing on your vehicle.
How to refinance a car?
To refinance an auto loan gather all your documents, evaluate your credit profile, determine if refinancing is beneficial for you and if you qualify.
Documents you need for auto refinance?
You would need your social security number, employment information, residence information, driver’s license, car registration and mileage, and proof of insurance.