Couple sitting in back of car

You're tired of money being tight each month

It's time to refiance that auto loan

4.6 out of 5 stars



It was just what you needed at the time. But now you’re stuck making payments that eat up too much cash. Maybe your credit’s improved. Or maybe you’ve paid a chunk of your balance down. Or maybe you just wanted the car so you signed on the line. Whatever it is, refinancing your car or truck loan at a better rate means you save money.
I'm Ready to Refinance With MHV
  • Rate goes down

    Your rate goes down

    If your credit has improved or the rate environment is more favorable, you may be able to refinance at a lower interest rate.
  • Payment goes down

    Your payment goes down

    Whether you refinance at a lower rate or with a smaller balance, chances are your payment is going to go down.
  • Available cash goes up

    Your available cash goes up

    You’re not spending as much on your car loan – and that means extra money in your wallet!


How much you save depends on: 

  • Dollar sign

    Your current balance and rate

  • Percent sign

    What rate you currently qualify for

  • Calendar icon

    What term - or length of the loan - you want


There’s no origination fee, no application fee, and no prepayment fee. You’ll only get a late fee after a 10-day grace period. And you can finance the $95 Vendor Single Interest cost for pennies on the dollar. Check with your current financial institution to see if they charge a payoff fee.

  • No application fee

    No application fee

  • No origination fee

    No origination fee

  • No prepayment fee

    No prepayment fee

Woman applying for loan on laptop

Apply online in less than 10 minutes. 

But get the support from a human right here in the Hudson Valley.

  •  I went in to refinance my car loan yesterday, and the manager Linda was so helpful and explained everything so well! I walked out with a great rate, lower payments and a smile. 
    Kristen M.
  • I want to say that we were grateful for a top-notch experience recently in dealing with the loan officer, Patrick. He was very knowledgeable, engaged with us personally and yet efficient. 
    Andy M.

Here's what you need to know before you apply

Apply online in less that 10 minutes. 

Local member service representatives will review your application. 

Your approval is good for 45 days, plenty of time to get your paperwork together. 

Jessica Staff Member

Hi! I’m Jessica, one of the Member Service Representatives here at MHV that will review your loan application. After you apply, we’ll need some documents. Go ahead and start prepping those to save time:

Proof of income

Payoff letter from the current loan holder

Insurance binder (MHV will need to be switched the lien holder after you’re approved)

Your original title

Commonly Asked Questions About Refinancing

  • If you are experiencing financial hardship, please contact us at 845.336.4444. It is important that you reach out before you start falling behind on your payments so that we can work with you on a solution. You may find additional information and resources for financial hardship here.

  • No, we do not charge any refinancing fees.

  • Please visit our Rates Page to see our current rates.

  • If you applied online, visit the Application Status Center for the status of your loan application. If you applied in a Branch or over the phone, please contact us at 845.336.4444.

  • How much you will save depends on what your current term and interest rate are as well as what interest rate you will qualify for. You can use our refinance calculator to estimate your new monthly payment and interest paid.

  • If you have existing GAP insurance, you will have to opt in again to the coverage if you refinance your loan. 

*As of 6/15/2024 

**APR = Annual Percentage Rate. Rates are effective 11/24/2023, are subject to change and reflect a .25% discount for automatic payments from your MHV account. Rates vary based on factors including your credit ratings, term of loan and/or year of vehicle. Loans are subject to approval and exclude leases and other select products. Payment example: 36 monthly payments at 7.04% APR would be $30.90 per $1,000 borrowed. Federally Insured by NCUA.