How many times is it possible to refinance a car?

I keep paying off old debt and my credit score keeps rising. I want to refinance my loan, but if my credit score continues to go up, I'd like to refinance again later. Can I do that? How many times can I refinance my car loan?

Answer
No stipulations exist for how many times you can refinance a car loan! However, you only want to refinance when it makes sense for you financially.
When you refinance, the lender will pull your credit report. This is known as a hard inquiry. With a hard inquiry, your credit will fall between five and 10 points.
The good news is that you can shop around and get as many hard inquiries as you want within a 14-day period without further impacting your credit. So, make sure to shop around during that two-week timeframe to find the best refi rate and get the deal done.
You should also only refinance if it’s going to get you a better interest rate.
If rates are relatively the same, you can still save money in other ways—namely with your car insurance. Download the Jerry app to compare quotes from top insurers. The average Jerry user saves $879 a year on car insurance.
Eric Schad
Answered on Nov 15, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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