Is it possible to refinance a car loan?

I am two years into my car loan and have been paying it every month on time. I’ve also been working on my credit—it’s gotten a lot better already. Can I refinance my car loan?

Answer
Yes, you can refinance a car loan.
Since your credit score has improved, you may qualify for better rates and save hundreds of dollars. You can use an app like Jerry to compare quotes quickly and easily all in one place. And you can even use Jerry’s refinancing calculator to estimate how much you’ll save.
Even if your current lender extends a refi offer to you, you should still shop around. Get quotes from local and national banks, credit unions, and online lenders.
Using information from your current loan and credit, Jerry shops around for you and makes comparing rates quick and easy. Get a customized list of the best loan options for you to ensure that you find the best deal.
Lauren Smith
Answered on Nov 22, 2021
Lauren has written for World Nomads, the Matador Network, Korvia Consulting, and once upon a time Three Fates Games. She graduated from Columbia College of Chicago with a BFA in Creative Writing. After graduating, she moved overseas and lived in South Korea where she spent her free time traveling and going on road trips with friends. She misses the rest stop potatoes and is trying to figure out how to recreate them at home. She's now based outside of Chicago and when she's not writing she spends her free time reading, playing video games, and exploring whenever she can.
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