Refinance and Extend Your Auto Loan Term

Get added flexibility when you refinance your auto loan with RefiJet

When you refinance your auto loan with RefiJet’s help, our team can help you to find the right combination of loan parameters to create the scenario that fits your goals. For some of our clients, that is to extend your auto loan term. The term of your loan is the number of months until you pay it off. There are several benefits to changing the term of your loan.

With a new refinance loan, you may wish to choose a shorter-term loan, one that pays off the amount you owe in a shorter period of time. Or, you may wish to extend that term, which means it will take longer to pay it off. What’s the difference? It comes down to what it does to your monthly payment and how well it fits your objectives.

Do You Want a Lower Monthly Payment?

One of the best ways to lower your monthly payment on your auto loan is to refinance it into a longer-term loan. By extending the amount of time it takes for you to pay off what you owe, you may be able to drop the monthly payment amount considerably. This is one of the ways we help our clients who want a lower monthly payment, save an average of $150/month*.

If you want a lower payment, keep in mind that extended the loan may mean you pay more on the loan in the long term. That’s because there is more time for interest to accumulate on the loan. Still, for those who need a lower monthly payment to balance their budget, this may be a good option for you.

You Can Still Pay It Off Sooner if You Extend Your Auto Loan Term

When you get a simple interest loan with us, though, you may secure a lower monthly payment while having the ability to pay the loan off earlier than the final due date, if you choose to. You have the option – not a requirement – to pay off the principal on the loan faster. If you choose to pay off your loan early, you end up reducing the total amount of interest you pay over the life of the loan, versus what you would have paid if you paid the loan for the full Term.

This option allows you to have the flexibility to have a lower monthly payment requirement from your lender. You can either make the standard monthly payment or you can make a larger payment to help you pay off the loan earlier and pay less interest overall.

Auto refinance loans through RefiJet never have a pre-payment penalty. That means there is little risk to you in taking this option. It gives you far more flexibility in repaying the debt you owe.

Changing the Term to Pay Off Your Debt Faster

Some people want to pay off their loan faster. They do not want or need a lower monthly payment. They just want to get out from under their car loan sooner. That is an option and a reason to refinance your auto loan, as well. When you do this, you are able to refinance your loan for a shorter term. Some of our clients like to do this

If you want to reduce the length of time it takes you to pay off your debt, talk to our loan specialists about shortening your repayment period. However, remember the above example, too. You do not have to refinance into a shorter contract. You could refinance with us into a new loan with the same estimated pay off date. Then, you can pay off the debt faster by paying more than you owe. If your current loan limits your ability to pay off the principle like this, refinancing may make sense for you.

Consider the Advantages of a Lower Monthly Payment

You may benefit from a lower monthly payment for several reasons:

  • Having more money each month to put towards other debts you have, such as high-interest rate credit cards.
  • You may be able to improve your credit by making on-time payments with your new, lower monthly payments.
  • You may be able to use those extra funds to add to your savings or invest. Use them in any way that works for your needs.

As you take into consideration how this may work for you, talk to our loan specialists to learn more. We can help you compare several different strategies for refinancing your auto loan, allowing you to find the right method for your specific objectives.

You Can Trust RefiJet to Offer the Help You Need When You Want to Extend Your Auto Loan Term 

When you speak to our team about your refinancing options, remember that we’re here to offer you solutions. There’s no pressure in the process. We provide you with information and options from which you can choose. Let us determine what amount of savings you may have each month if you refinance your auto loan into a longer-term loan. When you do, you are sure to find this can work to meet your goals.

We’ve been rated the #1 auto lender for customer service on LendingTree for five consecutive quarters. That’s because we are dedicated to providing you with the very best service possible. Even if you’re not sure refinancing your auto loan is right for your needs, let us offer some solutions to compare. Get Started Now.

Important Disclosures and Requirements

Customer Consent to Receive Account Information Electronically

The Electronic Signatures in Global and National Commerce Act requires your consent to receive certain disclosures electronically. Please read this section carefully and retain a copy of this document for your records.


Some communications and disclosures with and by on its behalf and on behalf of participating banks, finance companies, and credit unions (hereinafter called “Lenders”) are conducted electronically. However, if you wish to obtain a paper copy of any disclosure to your offer and/or loan/finance offer request, you may write to Yield Solutions Group, LLC (dba at 7555 E. Hampden Ave., Ste. 500, Denver, CO 80231. We will not charge you a fee for a paper copy of the Disclosures you request. RefiJet does not provide any Lenders’ disclosures. reserves the right, in its sole discretion, to stop providing Disclosures electronically. will provide you with notice of any such termination as required by applicable law. If chooses to stop providing Disclosures electronically, will send any future Disclosures to you in paper form.


The applicant and any co‐applicant (collectively, “you”) must consent to receive Disclosures electronically in order to complete the loan/finance offer request process with on behalf of its participating Lenders (as defined above). Your consent will apply to Disclosures you receive from, its successors and assignees, and any Lenders. You may withdraw your consent for receiving electronic Disclosures by notifying at Since is structured to provide some loan/finance offer request related information electronically, not consenting, or withdrawing your consent to receive electronic Disclosures may terminate your loan/finance offer request process. You may withdraw your consent to do business electronically with our participating Lenders at no cost to you. You may do so by contacting the Lender at the mailing address, e‐mail address or telephone number they provide to you separately for such purpose.


In order to use this service, you must consent to receive disclosures including but not limited to the Terms of Service and Privacy Notice electronically and you agree that these electronic disclosures will be sufficient as a “writing” under applicable law.

If you have access to this website, you have suitable hardware/software to access and retain electronic documents.

This consent is valid until revoked by either party.

Please notify us at 1.800.260.5355 if your contact information changes at any point in the refinance process.


This average monthly auto loan payment savings reflects loans where the borrower chose to lower their monthly payment. Not every auto refinance is intended to lower monthly payment. These savings are not guaranteed. Individual savings and rates may differ.

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