Whether you purchased a car while your credit was bad or you just want a lower monthly payment, refinancing your auto loan may be just what you need. Refinancing your auto loan to get a lower interest rate could save you thousands of dollars over the duration of your loan, and refinancing to get lower monthly payments could be quite helpful when money is tight. Whatever your reason for refinancing is, take a look at this list of the top five companies for refinancing auto loans. This list provides a short overview of what makes each company great, as well as three main highlights toward the bottom of the paragraph that show what the company has to offer.

Top 5 Firms for Refinancing your Auto Loan:

  • RoadLoans
  • Capital One Auto Financing
  • Bank of America
  • U.S. Bank
  • CarsDirect


This company should be your first choice for auto loan refinancing, whether you have good or bad credit. With many unique options, such as the option to skip payments for up to 60 days or to use the equity in your vehicle to get cash deposited in your bank account, works hard to help its customers. You don’t have to sit around and wait for an email or letter, as you’re provided with an instant decision.


  • You receive an Instant decision after applying.
  • Works with you regardless of your credit score.
  • Gives cash back to qualified customers.

Capital One Auto Financing

One of the major benefits of Capital One Auto Financing is that the company offers its services in 48 states, so most people in the country can apply for a refinanced auto loan. This company has been accredited by the BBB for proof that’s it’s a reputable company with an established reputation. The process is almost entirely completed online for increased speed and efficiency, as Capital One has you e-sign your loan documents over the internet.


  • Available in 48 states.
  • BBB accredited for authenticity.
  • E-sign contract over the internet for quick loan completion.

Bank of America

If you’re looking to refinance an older vehicle, Bank of America is a great option, as the company allows you to refinance vehicles with less than 125,000 miles, or that are no older than 10 calendar years. In addition to the lenient automobile requirements, Bank of America has thousands of branches across the country, making it easy to stop by in-person for assistance. Bank of America is also one of the largest banks around, which allows the company to offer highly-competitive interest rates that lower your monthly payment and keep more cash in your pocket.


  • The company allows you tp refinance older and high-mileage vehicles.
  • Huge network of brick-and-mortar locations makes it easy to do business in-person.
  • Competitive interest rates.

U.S. Bank

U.S. Bank makes it very easy to refinance your auto loan. You can apply online, find out whether you’re approved or not, then go to one of the hundreds of branches across the country to complete the deal face-to-face with a helpful representative. The payment calculator on U.S. Bank’s website allows you to see exactly how much money you would save each month by refinancing your loan. This company strives to provide a same-day decision, so you don’t have to wait around for days or weeks to find out if you qualify for refinancing.


  • Automobile payment calculator lets you find out your monthly payment.
  • You can apply online and complete the deal in-person at a bank branch.
  • Same-day credit decision lets you start saving money fast.


CarsDirect has been around since 1998 helping people get auto loans or refinance existing auto loans. This highly-experienced company aims to make the refinancing process as easy as possible, as the application takes less than 60 seconds to complete. Your application is sent to many different lenders, based on your credit score, loan request and other information. This is done so that you have the highest chance of approval and receive the best possible refinance terms for your loan. CarsDirect also shares a vast amount of information regarding the auto refinance process, ensuring you’re prepared as possible before making any decisions.


  • In-depth articles on refinancing helps you make an informed decision
  • Nationwide web-based loan broker that can connect you with over 150 lenders.
  • Easy application process takes under a minute to complete.


Each of these five companies offers a variety of benefits for refinancing your auto loan. However, you can’t go wrong by selecting any of these companies. For the best chance of approval and the most favorable terms, consider applying at more than one of these lenders to see which company offers the best deal.