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Can I move my car loan to a different lender or bank?
I'm unhappy with my current bank's customer service, and I'm considering switching to a local credit union. Can I move my car loan elsewhere?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Absolutely! If you’re dissatisfied with your current lender, you always have the option to transfer your
car loan
to another lender. Here’s how:- Shop around: Start by shopping around for the best rates. Explore rates from credit unions, national banks, and local banks.
- Compare: Evaluate interest rates, terms, and any fees associated with the transfer process.
- Choose: Select a new lender, complete the necessary paperwork, and submit any required documentation.
It’s that simple! The new lender will pay off your existing loan, and you'll begin making payments to them. Enjoy better service with your new lender!
MORE: How to refinance a car
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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