Car Loan Refinance

Keep the car.
Love the payment.

Refinance your car loan in the Hudson Valley to lower your rate, lower your payment, or both. No refinancing fees, ever.

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No refinancing fees
0.25% autopay discount
Local decisions
Is it right for you?

Refinancing your car could be a money-saver

A refinance can help you save money, but it has to make sense for your own financial picture. Here are some things to consider before applying.

Interest Rate

One of the most common reasons people refinance is to secure a better rate. Find out what rate you’re paying on your current loan and compare it to the rate you may qualify for. If it’s significantly less, a refi can save you money.

Your Goal

Extending your term lowers your monthly payment but means more interest over time. If your goal is to save money, weigh the extra interest against the lower payment. If cash flow is the issue, extending the term may make sense.

Prepayment Penalties

Check with your current lender for any prepayment or early-payoff penalties. If there are fees, crunch the numbers — is what you’ll save still more than the fee? If so, refinancing may still be a good move.

Lender Requirements

When shopping lenders, ask about their requirements. Some won’t refinance vehicles older than a certain year or above a defined mileage.

Your Credit Score

How’s that number looking? If your credit has improved since you bought your car, you may qualify for a better rate. If your score has dipped, you may want to work on it first.
Refinance Calculator

See how refinancing can help you save

See how refinancing can help you pay off your auto loan early and save on interest.

Rates as low as

5.640% APR*

When you refinance your auto loan with MHV!

*APR = Annual Percentage Rate. Rate special effective 09/04/2026 is subject to change and reflects a 0.25% discount for automatic payments from your MHV account. Rates vary based on credit, term of loan, and/or year of vehicle. Loans are subject to approval and exclude leases and select products. Example: 36 monthly payments at 5.64% APR would be $30.26 per $1,000 borrowed. Federally Insured by NCUA.

View more rates and terms
Use this checklist to make sure you’re ready to apply.

Are you ready to refinance your car?

Find a lower rate or better term that you’ll qualify for.

Run the numbers to confirm a refinance makes sense for you.

Payoff your current loan.

Confirm there are no prepayment or early-payoff fees from your current lender.

Get a payoff letter from your current lender.

It usually has an expiration date — don’t request it until you’re ready to apply.

Prepare income verification documents.

Gather your paystubs or tax returns that may be required when you apply.

Provide proof of insurance.

Provide your full insurance policy (not just a binder) listing Mid-Hudson Valley Federal Credit Union as loss payee
Your next step

Your auto loan opens the door to more.

Financing your vehicle with MHV automatically sets up a free Savings account — making you a member-owner. Add a free Checking account to complete your everyday banking and unlock the full value of membership.

Lower Loan Rates

Member rates beat most banks on auto, home, and personal loans.

Higher Savings Yields

Share Certificates with higher rates — earn more on your money.

Free Financial Coaching

One-on-one guidance to reach your financial goals.

Local Decisions

Approvals made by people who live in your community.

Become a Member
Family and dog in car
Auto Refinance

Commonly asked questions about car loans

MHV offers auto, recreational vehicle, boat, and motorcycle loans.

Yes. This optional protection covers your loan payment in the event you experience a qualified life event. Things like unemployment, disability, and loss of life may be included.

Yes, by setting up automatic payments from your MHV Checking or Savings accounts. This qualifies you for a 0.25% discount.

No, we do not charge any refinancing fees.

When you have your car or truck loan with MHV, you must carry full coverage, including comprehensive and collision for the value of the loan. We require the policy, not just the binder. The policy should list Mid-Hudson Valley Federal Credit Union as the loss payee (P.O. Box 1155, Kingston, NY 12402), and your deductible cannot be more than $1,000.

How much you save depends on your current term and interest rate as well as the rate you qualify for. Use our calculator above to estimate your new monthly payment and interest paid.