Save money on your monthly car payments and get rates as low as 5.90% APR* when you choose to auto refinance your loan with us.
- A decrease in interest charges
- Lower monthly payment
- Ability to extend the length of the loan
- Ability to remove or add as a co-signer to the loan
What to Expect When You Apply
Auto Refinance Resources
As a Aggieland Credit Union member, you’ll benefit from valuable financial resources to ensure that you’re making the right financial decisions.
Auto Loan Refinance Frequently Asked Questions
Still have questions about how to refinance your auto loan? Check out our answers to some frequently asked questions.
Your financial situation may have changed since you first took out your original car loan. Refinancing could give you access to lower interest rates or a longer term for your loan. Both of these options can lower your monthly loan payment.
It's also possible that when you didn't have access to the best interest rates. Perhaps your credit score has improved, and you're eligible for lower rates. Or maybe you previously financed your loan through a dealer who didn't give you the most competitive offer.
Whatever your situation, refinancing your auto loan could help you tailor your loan payments to fit your current budget.
If you already have excellent credit, then refinancing an auto loan will make a comparatively small dent in your credit history. However, if you have bad credit, you might want to think twice before refinancing.
Applying to refinance your car loan triggers a "hard inquiry" on your credit report, which will temporarily lower your score. This decrease typically goes away in six months. However, within these six months, you should avoid other activities that could trigger more hard inquiries.
For example, if you're applying for a mortgage, you should wait until six months have passed after refinancing your car loan.