Can you refinance your car loan with the same company?

Can I refinance my loan with the same lender? I want to refinance my existing loan, so I can get a better rate. It seems easier to stick to the same lender to do this.

While it may seem easier to refinance your car loan with the same company, and you certainly can, it never hurts to shop around!
Even if you’re happy with your current loan contract, another lender may offer you a lower interest rate, which can reduce your monthly payments. As long as you’ve kept your loan in good standing, you should have plenty of refinancing options.
By exploring your options with at least three other lenders, you can ensure you’re getting the best interest rate when refinancing.
If you’d like help exploring your options, start your search with the Jerry app. You can compare quotes from multiple lenders without worrying about your credit history. Avoid the hassle of researching and sending documents to potential lenders. Jerry’s app instantly connects you with top companies and takes into account your specific financial needs to find a loan that best meets those needs.
Phoebe Mah
Answered on Nov 24, 2021

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