How long does it take to refinance a car loan?

I was curious to know if refinancing a car loan takes a long time to process and finalize. I’m looking for ways to save money in my monthly budget and would love to make those changes as soon as possible. How long does the refinance process take?

Answer
Good question! You’re in luck, Refinancing may be quicker than you anticipate.
The time it takes to approve a loan will vary depending on the lender. Some lenders will approve the loan the same day the application is submitted. For others, it may require a few more days, even up to two weeks.
The worst case is that you wait two weeks to start seeing those savings.
For more ways to save, try using the number-one-rated car insurance app, Jerry. Jerry can save you money on both your car loan and your car insurance. Jerry shops for better interest rates on car loans, no matter what your credit score is. On average, car owners pay $85 less every month by refinancing their auto loan. You can also get personalized rates for car insurance from more than 50 top providers, including Nationwide, Allstate, and Travelers, for free. The average Jerry driver saves $879 a year on car insurance!
Phoebe Mah
Answered on Nov 23, 2021
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