Car Finance
Refinance your car loan
and reduce what you're paying.
If your current car loan rate no longer reflects your situation, it might be time to refinance. We check across our lender panel to see if you can do better — no obligation, no pressure.
Your circumstances change — your loan rate should too
A loan that made sense two years ago might not be competitive now. If your credit profile has improved, rates have shifted, or you simply accepted the first offer at the time — there may be a better deal available.
We review your current loan, check what's available across our panel, and let you know if refinancing makes sense. If the numbers don't add up after exit fees and break costs, we'll tell you that too.
Potentially lower repayments
A better rate — or a longer term — can reduce what you pay each month.
Full lender comparison
We check your current deal against multiple lenders before making a recommendation.
Honest assessment
If exit fees and more interest make refinancing not worth it, we'll tell you. No pointless credit enquiries.
Fast process
Send us your current loan details and we'll come back with an answer quickly.
When refinancing makes sense
- Your credit score has improved since taking out the original loan
- You accepted the first offer at the dealership and never shopped around
- Interest rates in the market have shifted since you borrowed
- You want to reduce your monthly repayment or pay the loan off faster
We'll factor in exit costs and break fees to make sure it's genuinely worth switching — not just on paper.
Car Loan Refinance FAQS
Got questions? We've got answers.
Plain English. No jargon. Just the stuff people actually ask us.
What does car loan refinancing mean?
Car loan refinancing means replacing your current car loan with a new loan. People often refinance to chase a better rate, reduce repayments, change lenders, remove a balloon, adjust the loan term or tidy up their finances. We'll compare the current loan against potential new options so you can see whether refinancing is genuinely worthwhile.
When should I refinance my car loan?
It may be worth looking at refinancing if your rate feels high, your repayments are uncomfortable, your credit profile has improved, your income has changed or you want to restructure the loan. It's also worth checking before a balloon payment is due. We'll help review the numbers and explain the pros and cons clearly.
Can refinancing lower my car loan repayments?
It can, depending on the new rate, loan term, fees and remaining balance. Lower repayments can help your monthly budget, but a longer loan term may increase the total interest paid over time. We'll show you the repayment difference and the bigger picture, so you can make a confident decision rather than just chasing the lowest monthly figure.
Can I refinance if I still owe money on my car?
Yes, that's exactly what car loan refinancing is designed for. We'll usually need a payout letter from your current lender, details of the vehicle and information about your income and expenses. The new loan pays out the old loan, and you then make repayments under the new agreement.
Are there fees to refinance a car loan?
There can be. Your current lender may charge payout, break or early termination costs, and the new lender may have application or establishment fees. These costs matter because they can reduce or remove the benefit of refinancing. We'll help you compare the total cost so you can decide with your eyes open.
Can TradeFin refinance dealer finance?
Yes, we can help review dealer finance and compare it with other available options. Dealer finance can be convenient, but it may not always be the best fit over the full loan term. We'll check the rate, fees, balloon, repayment structure and payout costs, then help you see whether a refinance makes sense.