How often can you change your car loan provider?

I just refinanced my car two months ago, but I found another lender that offers an even better rate. Can I refinance with them? Or is there a limit to how many times you can refinance your car loan?

Answer
As long as refinancing makes sense or you can get a better rate, no limit exists on how many times you can refinance your car loan.
Before you refinance (again), double-check to see if it’s really the right move for you. A lower interest rate isn’t the only determinant of whether you should refinance, so consider these other aspects:
  • How long you have left on the loan. If it’s less than a year, it’s usually not worth the effort to refinance
  • Whether your credit score has improved with the current loan
  • If you want to get cash from refinancing
  • Whether your income has changed in the last few months, making it harder to pay your current loan
If you’re looking for more ways to save money, consider that you might be overpaying for your car insurance. Use the Jerry app to compare quotes in just a few minutes and find a more affordable rate with the same coverage you need.
Eric Schad
Answered on Oct 26, 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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