How do you find the best auto refinance rates? If you’re thinking about refinancing, it’s critical to understand what rates are available to you. An interest rate is the charge you’ll pay for borrowing money to purchase a car. The lower it is, the less you pay over the long term. The lower it is, the lower your monthly payment is, too if all other terms remain the same.

Want to find out what you qualify for right now? Use the RefiJet form on this page. You provide some basic information, we’ll perform a soft credit pull that does not impact your credit score, and then provide you with available loan offers. It’s that simple. Our goal is to help you get the best auto refinance rates available to you, personally. It just takes a few minutes to find out what those are.

What Are the Best Auto Refinance Rates?

Financial institutions set interest rates based on many factors. That includes a borrower’s credit report and credit score. The economic conditions and market conditions also impact these rates. When looking for the best auto refinance rates, the goal should be to determine which lenders can offer the lowest rates possible based on your specific qualifications.

Also important is to consider what is “good” to you. The best refinancing rates for you need to be as affordable as possible. For example, you may want to look at your original loan. Determine what the current interest rate is. Then, look for a loan that offers a rate that’s lower than this if you qualify for it.

The best rates help you to lower the amount you’re paying on your existing loan. They are also the lowest available to you from the lenders available.

How Do You Compare Interest Rates Among Lenders?

That’s the hard part when it comes to refinancing your auto loan. It’s hard to know which lender will offer the best rates. RefiJet aims to help you with getting this information. When you complete the form on this page, our system goes to work for you. We use your personal information, such as your credit score and what your car is worth, to help you find available loans.

When possible, you will receive multiple loan offers. You can, at that point, see the terms of each loan, including what the interest rate is. You can use that information to help you compare loan offers to determine which one is right for your needs. Having many lenders in our professional network allows us to gather many loan offers for you. That takes the guesswork out of the process for you.

What Factors Do Lenders Use to Determine Which Interest Rate to Offer?

Car loans are like many other types of loans. Lenders need to gather as much information about you as possible to determine what interest rate they can offer to you. Often, they base this information on risk. The more of a risk a borrower is, the higher the interest rate may be charged to that borrower. You may still qualify for an auto refinance loan even if you do not have a perfect credit score.

Some factors that lenders use to make that decision include the following:

Credit Scores

Your credit score plays a role in determining risk. That’s because a lower credit score indicates you may have had some difficulties in the past with making payments on time or lack experience in borrowing. Often, lenders use your past experiences as a way to determine what the future may hold. If you were late before, you might be late again, for example. On the other hand, a high credit score may allow lenders to offer more loan options and some of the lowest rates.

What Your Car Is Worth

Some lenders set a minimum loan requirement. They may not lend unless your car is worth at least that much money. More so, if your car is not valuable due to an accident or excessive age, that may make it harder for a lender to offer the lowest rates.

Debt-to-Income Ratio

Lenders also look at your debt-to-income ratio. This is the amount of debt you have across all forms compared to how much income you have coming in. Again, the goal is to have as little debt as possible compared to the income you have. That way, you have more available funds to help cover the cost of your new loan. Debts included in this may include any other type of loan, including credit cards, mortgages, and personal loans.

Auto Loan Terms

Loan terms also may play a role in this decision. The loan’s term is the length of time it takes to pay off the loan. Options range widely based on the age of a car as well as your needs. Longer terms may have some benefits to consumers. That helps to extend the repayment out and helps lower monthly payments. Many times, a longer term may also offer a lower interest rate. Shorter terms are not something to overlook, though. Paying off your auto loan refinance in a shorter term may mean you pay less overall. There’s less time for the interest to build on the loan.

Borrowing Amount

The amount of money you are borrowing may also play a role in the interest rate you are charged. Larger loans may cost more. There is more risk to the lender by offering a lot of money rather than a smaller amont. Still, if you owe a significant amount of money on your existing loan, it may still be possible to qualify for a lower interest rate overall. Loan amounts are just one component of a much larger picture.

Why Customized Auto Loan Quotes Are So Important

Auto refinance loans may help you to get into a car loan that is more affordable for you. That may make it easier for you to make payments on time to your lender. It’s often worth it to refinance. However, getting the best auto loan refinance rates for you may make it even more worthwhile.

That’s why RefiJet works to provide you with personalized loan offers. Instead of just offering a single loan that you may qualify for, we work to help you find out if you qualify from multiple lenders. It only takes a few minutes to learn about these offers, but you’ll know your options are once you get a customized loan offer from us.

A custom auto refinance loan offer allows you to know what to realistically expect. We provide you with more than one loan, when available, to help you have options to compare. You don’t have to apply numerous times to various banks, credit unions, or other financial institutions. At the same time, you’re not getting an average rate or the current going rate for auto refinance loans. These loan offers are designed for you, and that means you can take advantage of them right away.

What If You Aren’t Sure?

When applying for car loans, some people just want to know what they qualify for before they decide to refinance. You may want to know the best auto refinance rates available to you before you commit to moving forward with the process. That’s something you can do with RefiJet. That’s because you are not obligated to use any loan from our partner lenders. You can simply request information by filling out the form below to learn what your options may be, and then make a decision that works for you.

That’s another one of the benefits of using RefiJet. You don’t have to worry about getting trapped into a loan that’s not a good fit. Refinancing a car loan should be something you are confident in. That’s why we help you closely to learn what’s available to you.

How Do You Find the Best Auto Refinance Rates Available to You?

At RefiJet, we make the process as simple as possible. You can speak to our auto refinancing experts to get information. Our team of financial pros is dedicated to helping you. They are honest, open, and take pride in providing stellar customer service to you. It’s really important to us that you’re happy with the final outcome of our products and services. We’ve worked to create a network of national lenders ready to support you.

Ask us anything. Then, complete the refinance process. No one likes to deal with paperwork. That’s why we’ve worked to keep it as straightforward as possible.

By filling out the form at the bottom of this page, you’ll provide us with information about yourself, your car, and other info that may help us find the best loan options available to you. We then perform a soft credit pull. That does not impact your credit score in any way. Rather, it provides prospective lenders information about your credit qualifications. It’s not a formal, hard inquiry on your credit report.

Once this is done, we then present you with loan options for our partner lenders that may work for you. Keep in mind these are personalized to you, not just averages. That means you can see the information you need to make a decision about whether refinancing your vehicle is right for you, including refinance rates, prepayment penalty information, terms, and other conditions. You’ll know what the car payments will be.

Our online lenders are here to help you with auto refinance loans. Yet, you can then decide what works for your situation. Choose the loan offer that helps you achieve your goals, such as a lower interest rate.

Take a moment to consider what the best auto refinance rates are in your situation could be. What would a lower payment or interest rate mean to your budget?

Our Rates Are Always Updating

The best auto refinance rates can change over time. Lenders change what they offer frequently. We work to be sure you always have the most up to date information. Yet, remember that loan rates may change over time once you receive loan offers from online lenders. Be sure to act quickly to lock in the rate that is currently available to you.

Why Trust RefiJet?

Our team is here to help you. We use advanced auto refinance technology to locate the best auto refinance loan rates available in your situation. We are also fully committed to protecting your privacy and meeting all compliance requirements. Our 5-star ratings help us to demonstrate our dedication to providing you with the quality service you need when making a big decision like this.

Take a closer look at the rates lenders are currently offering to you. Make a decision on what actions you should take now to get the loan offer you need. There’s no time like right now to take action to find out what your options may be available to you.