Can I refinance my car loan with the same bank?

When I had to buy my car, my credit wasn't in the best shape. It has been a few years since then, and my credit is much better now! I was thinking about trying to refinance my car to get lower interest payments. Can I refinance my car loan with the same bank?

Answer
Refinancing is a great way to save money on your monthly car note, and you can usually use your current bank for the new loan.
Even though you may use the same bank, you should shop around to make sure you’re getting the best terms and interest rates. Just because you are comfortable with your current company doesn’t mean you are getting the best deal!
Refinancing can be difficult and nerve-wracking. If you want to make it easy and stress-free, try downloading the Jerry! No matter your credit score, Jerry helps you refinance by comparing quotes from multiple lenders to find a rate that works best for you.
Shannon Martin
Answered on Nov 01, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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