Refinancing (Auto Refinancing)

When it comes to refinance auto loans, the process is very similar to that of refinancing a home loan.

When you apply for a new car loan to replace your current one, you are refinancing, which is also known as “refi.” As long as the proceeds from the new loan are used to pay off the existing loan, borrowers can negotiate more favourable terms and select a new interest rate.


Start rounding up and saving to pay down your car loan faster