Best Auto Loan Refinance Rates 2021


Looking for a new car? The table below shows auto loans with some of the lowest interest rates in the market.


Type of interest Vehicle type Maximum vehicle age Ongoing charges Registration fees Total refund Prepayment Instant approval Online application
Fixed New 4 years More details

Car loan (new and used dealer) (
  • 24 hour approval
  • Balloon options to reduce refunds
  • No ongoing charges, no discharge charges

Fixed New 1 year More details
No ongoing charges

Plenti Car Loan

Fixed New, used 99 years old More details
  • No additional refunds or early exit fees
  • Up to $ 75,000 in loan amounts
  • Financing approved within 24 hours
Fixed New 1 year More details

Green car loan

Fixed New 2 years More details

Fast New Vehicle Loan Low Rate

  • Fast application process with no monthly fees
  • Low fixed interest rates with terms of up to seven years
  • New car loans cover cars for up to 3 years

Fast New Vehicle Loan Low Rate

  • Fast application process with no monthly fees
  • Low fixed interest rates with terms of up to seven years
  • New car loans cover cars for up to 3 years
Fixed New, used 5 years More details

Auto Credit – Fixed

Fixed New 99 years old More details

New car loan (NSW, ACT and QLD only)

Fixed New, used 10 years More details

(5 years)

Fixed New, used 5 years More details

Fixed car loan (with discount on low emission vehicles)

Fixed New, used 7 years More details
No ongoing charges

Plenti car loan (refinancing)

Fixed New 99 years old More details

Fixed Automobile Credit (New)

Fixed New, used 99 years old More details

Liberty Car Loan (Excellent credit history)

Fixed New, used 99 years old More details

Car loan

Fixed New, used 99 years old More details

Fixed Personal Loan

Fixed New, used 5 years More details

Secured car loan

Rates based on a $ 30,000 loan for a five-year term. Products sorted by advertised price. Prices correct as of October 20, 2021. See disclaimer.

Why refinance your auto loan?

Save on fees

Your current car loan may impose unwanted or unnecessary charges. Some auto loans charge you monthly / annual fees. These fees can add significant costs to your loan during its lifetime. Refinancing may allow you to switch to a low cost loan from another lender.

Better interest rates

Interest rates are generally lower than they have ever been. It is very possible that the interest rates have fallen since the first subscription of your car loan. Refinancing can get you locked in to a lower interest rate. And if you think interest rates are going to go up, you can lock in a competitive rate for a money back guarantee.

Better features

Different lenders will offer different features for your car loan. You may want to refinance to access a loan that allows you to make a lump sum or additional repayments to pay off the loan sooner, or you might be looking to reduce your repayments by extending the term of your loan, to make payments. smaller payments over a longer period. period of time, putting more money in your personal cash. Either way, refinancing allows you to shop around and find a loan that best suits your needs.

What should you pay attention to before refinancing your auto loan?

Car value

Before refinancing your auto loan, it is important to consider the value of your vehicle. Usually, this will not be the amount you paid for it. Cars are one of those purchases that typically lose value (depreciate) over time. If you owe the lender more money than the current value of your car, you would likely be considered a higher loan “risk” and might find it difficult to find someone willing to refinance your car loan.

That’s because if you defaulted on a payment and your lender had to seize your car and sell it, they likely wouldn’t get back the full amount you owed them. This is called “negative equity”. There are insurance policies – called “car gap” or “motor equity” that cover this, but it might not be worth it, and not all lenders offer it. So to make sure you have a good chance of refinancing, have a good idea of ​​your car’s current value and make sure it’s more than what you currently owe.

Remaining term of your loan

Auto loan terms are almost always much shorter than home loan terms, with typical loan terms ranging from one to seven years. To determine how quickly you can refinance your car loan, you need to look at the current term of your loan and decide if it’s worth the time, effort, and potential cost of refinancing. For example, if you only had a year left on your car loan, refinancing could end up costing you more in fees than if you had to complete the last year of payments.

On the other hand, if you still have five years out of a seven-year term and you don’t think you’re getting the best interest rate, it may be a good idea to consider refinancing.

Crossing the costs of “change”

This goes hand in hand with the length of your loan and is an essential thing to consider before refinancing your car loan. Some of the costs involved in refinancing may include exit fees, appraisal fees, application fees, and breakage fees. For people who don’t have long to run yet, these types of costs could mean they’ll end up paying more in fees than they’ll save by switching to a better interest rate.

Many lenders understand this and will occasionally make special offers to waive some of these fees. It is therefore always beneficial to keep an eye out for special promotions offered in the car loan market.

Take care of your credit score

Another thing that most people don’t realize is that every credit application they make is on their personal credit report and can negatively influence their individual credit score. This could mean that refinancing your car loan too often could make it difficult to get a good interest rate on future credit applications in other areas such as a home loan or personal loan.

Whether it’s to get a lower interest rate, add flexibility, or consolidate debt, a car loan refinance might be a good option to consider.

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