See if you can save on your car payments

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.

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!

*Average monthly savings are based on customers who refinanced their auto loan through Upgrade in 2022 when compared to their previous auto loan payment. If you decide to refinance, you may be able to lower your monthly payments or reduce your APR but it may increase the total number of monthly payments and/or the total amount paid when compared to your current situation. Your actual savings may vary.

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.

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.

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.

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.