How do I…
Refinance Your Car Loan
If you need to lower your monthly payments, you may have considered refinancing your car loan or maybe not. In fact, many people may not know about the benefits of refinancing their car loan.
Should I refinance my car loan?
Looking at your specific situation is the best way to decide. However, you might refinance a car loan if:
- Your credit score has improved since first financing your vehicle
- Your expenses have risen, but your income hasn’t
- You need extra cash for an emergency
- You want to lower your monthly auto payment or rate
- You’d like a reliable financial option with a quick turn time
- You rent your home
What are the benefits if I refinance my car?
Some customers who chose a refinance car loan with Wells Fargo received $5,4891 or more in cash and others have significantly lowered their rate and monthly payments. If you are approved to refinance your car loan, you may be eligible to:
- Lower your interest rate
- Reduce your monthly payments
- Improve your auto loan terms
- Access cash for your financial needs
- Consolidate high interest debt to a lower-rate car loan
- Receive additional customer discounts2
Is it easy to refinance my car?
Yes. Even if there are a few blemishes on your credit report, you may still have options. Some lenders, including Wells Fargo, offer several refinance car loan opportunities, for customers with perfect credit and for those who may have missed a payment or two along the way.
How do I refinance my car loan?
Just complete our short refinance car loan application. You’ll receive a credit decision within minutes. After that, it only takes a few days to close your new auto loan.
To learn more about refinancing your car loan, contact our car refinance loan specialists at1-866-452-3413.
1Granting of loan is subject to our credit requirements. The $5,489 figure is based on customers who refinanced their loans with Wells Fargo during the period from April 1, 2013 to June 30, 2013.
2 You may be eligible for a rate discount for having a Wells Fargo relationship and deposit account from which your monthly loan payment is deducted. During the life of the loan, if the monthly automated payment from your Wells Fargo deposit account is discontinued for any reason, or you no longer meet the relationship requirements, you will lose the selected discount.