Refinancing your car or truck could be a money-saver.
But is it the right move for you?

Thinking about refinancing your car loan? A refinance can help you save money, but it has to make sense for your own financial picture. Here are some things you need to consider before applying.   

I'm Ready to Refi

compare our rate and save

Rates as Low as

3.54%

APR*
When you refinance
your auto loan with MHV!
 

Love the rate but have some questions? 
 
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So…is now the right time to refi?

 
When is the right time to refinance? If you can say yes to any of these questions, it may be your time.
 
  1. Your credit has improved.
  2. You’re struggling to make your current payments.
  3. Rates are a lot lower now than when you first purchased your car.

Calculate your auto loan refinance savings


 

Are You Ready to Refinance Your Car?
Use this checklist to make sure you’re ready to apply.


Checkmark  Find a lower rate or better term that you’ll qualify for. Run the numbers to confirm a refinance makes sense for you.

Checkmark  Confirm no prepayment/early payoff fees from your current lender.

Checkmark  Get a payoff letter from your current lender. This usually has an expiration date so don’t request the letter until you’re ready to apply.

Checkmark  Gather income verification documents such as paystubs or tax returns that may be required when you apply.

Checkmark  Request an insurance binder from your insurance company. Most lenders require proof of insurance.

 
OK, Take Me to the Application

HAVE car loan refinance QUESTIONS? THESE ARE THE ONES PEOPLE ASK US THE MOST.


 
 
*APR = Annual Percentage Rate.  Rates effective 11/6/2020.  All rates as low as: Rates are based on credit ratings, term of loan and in some cases year of vehicle. Rates reflect a .25% discount for automatic payments from your MHV checking or savings. Discount excludes leases and other select products. Your rate may vary. Rates are subject to change. All loans subject to approval. For example: 36 monthly payments of $29.30 per $1,000 borrowed at 3.54%.