Put auto refinancing on autopilot

Check your auto refinancing offer in 3 minutes or less with Jerry and reduce your monthly payment by an average of $150/mo.
No long forms · No spam · No rush
Refinancing an auto loan is one of the best ways to
get out of a car loan
that isn’t working for you
If your financial situation has improved since the start of your car loan, you might be overpaying for auto financing. Refinancing could lower your monthly payments, get you a better interest rate, or both! 
Find out if you can reduce your monthly car payments in minutes
* checking your rate won’t affect your credit score
Check your rate
* checking your rate won’t affect your credit score
is here to help you determine the cost of auto loan refinancing. We’ll walk you through the benefits of refinancing and show you what makes a good or bad auto refinance candidate. If you decide that it’s the right route for you, Jerry’s got you covered with a breakdown of the whole process (and refinance offers tailored to your needs from our lenders!).

How to refinance your auto loan with Jerry

Maybe your credit or income have improved since you originally signed up for your car loan. Maybe you’re struggling to make monthly payments. No matter your circumstances, here’s how to refinance your loan through the Jerry app. 
  1. If you’ve downloaded (iOS, Android) the Jerry app, open the app and go to the Dashboard. If you are likely to benefit from an auto loan refinance, your offer will already be waiting for you. If you don’t see an offer, congrats—you already have the best available rate! But check back regularly because Jerry will periodically shop to see if it can find you a better loan in the future. (If you haven’t already downloaded the app, go through the initial questions in the Jerry app and we’ll check for great insurance and refinancing deals for you.) 
  2. If you see a rate or payment you like, click “Continue” and let Jerry move the process forward. 
  3. Jerry will let you know when it’s time to compare final refinancing offers from multiple lenders.
  4. Choose the best deal for your budget and answer a few additional questions in the app. You’ll likely need identification documents like your driver’s license, vehicle registration, and recent pay stubs. Jerry will then start the process of funding your loan with the lender
  5. Enjoy that extra money in your pocket!

When should you refinance?

Refinancing an existing auto loan is a great way to free up cash quickly—if your financial situation suits the requirements set by lenders. 
By refinancing a loan, you can secure a lower interest rate, shrink your monthly payments, and improve your overall cash flow. But a lower interest rate might come with a longer loan term, leading to greater long-term costs—and depending on your profile, you may not appear to lenders as a good candidate for refinancing. 
So what makes a good candidate? There’s no universal standard, but it’s generally best to refinance your car if: 
  • You have positive equity on your car (i.e., your car is worth more than the amount remaining on your loan) 
  • Your income or credit score have increased since the start of your loan term
  • You originally financed your car through a dealership
  • Interest rates nationwide have improved since the start of your loan
In July 2022, the Federal Open Market Committee (FOMC) raised the benchmark rate for auto loan interest rates by 0.75%, leading to the highest benchmark rate since December 2018. This rate hike, instituted in response to inflation, could make auto refinance trickier for many car owners. 

When should you not refinance? 

That said, there are times when refinancing isn’t the best option. An auto loan refinance might not be the right move if: 
  • You've had one or more late payments in the past 6 months
  • You’ve taken out new loans in the past few months
  • You declared bankruptcy in the past 12 months 
  • You recently changed jobs or lost your job 
  • You've previously had a car repossessed
If you’re a
customer, our genius AI can help determine if refinancing your auto loan is the right option for you. 

How to find the best auto loan refinance deals

When refinancing an auto loan (or
multiple loans
), it’s important to take your time to find the right deal. Rushing into a refinance could land you in a loan agreement that’s actually worse than the one you started with. 
to make sure you get the best auto refinancing options and expert, end-to-end refinancing support. Jerry is reinventing the auto refinancing process from start to finish to make it faster and easier to get a better auto loan. 
Not sure if refinancing is right for you? Download the app and find out! On average, customers who refinanced their auto loans with Jerry reduced their monthly payment by $152! Jerry never sells customer data, never sends marketing emails, and won’t ever call you (unless you ask us to). 
While you’re at it, be sure to let Jerry shop for car insurance savings. On average, Jerry users save $600 a year on car insurance just by taking 45 seconds to shop in the app. With savings like that, you could even
pay off your car loan early


Still have some questions?

Let Jerry help you find the answers
The minimum waiting period for refinancing is about 6 to 12 months. This allows time for the title transfer to be completed and allows you to build a history of on-time payments. In general, it’s best to wait at least one year before refinancing.
It depends on your situation. Refinancing can come with added fees and increase the amount of interest you pay overall. However, if you’re able to negotiate a lower interest rate or an extended term that allows you to stay on top of payments, it may save you money in the long run.
Refinancing will typically cause a temporary dip in your credit score, which is why it’s best to avoid refinancing if you’ve got major purchases coming up. However, an improved loan deal can help you build your credit long-term.
Usually, yes! But it may not be the best option for you. It’s always worth comparing offers from multiple lenders to figure out the best deal for your budget. (
can help with that—and it’s free to compare offers in the app!)

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