Today's Current Auto Refinance Rates

Auto refinance rates change frequently. Here are today's current auto refinance rates.

Auto Refinance Rates

Loan Term Excellent
750-850		 Good
700-749		 Fair
640-699		 Poor
639 or less
36 Months 4.67% 6.48% 8.03% 11.84%
48 Months 5.55% 7.15% 10.11% 13.27%
60 Months 5.68% 7.05% 9.81% 13.43%
72 Months 6.15% 7.16% 9.84% 13.35%
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36 Month | 48 Month | 60 Month | 72 Month

36 Month Term

Credit Range APR*
Excellent
750-850		 4.67%
Good
700-749		 6.48%
Fair
640-699		 8.03%
Poor
639 or less		 11.84%
Apply Now

48 Month Term

Credit Range APR*
Excellent
750-850		 5.55%
Good
700-749		 7.15%
Fair
640-699		 10.11%
Poor
639 or less		 13.27%
Apply Now

60 Month Term

Credit Range APR*
Excellent
750-850		 5.68%
Good
700-749		 7.05%
Fair
640-699		 9.81%
Poor
639 or less		 13.43%
Apply Now

72 Month Term

Credit Range APR*
Excellent
750-850		 6.15%
Good
700-749		 7.16%
Fair
640-699		 9.84%
Poor
639 or less		 13.35%
Apply Now
* These rates are current as of September 27, 2023

Frequently Asked Questions About Auto Refinance Rates


What are today's auto refinance rates?
For today, September 27, 2023, the current average auto refinance rate for people with Excellent credit is 4.67% for a 36-month loan, 5.55% for a 48-month loan, 5.68% for a 60-month loan, and 6.15% for a 72-month loan. The current average across all credit tiers and loan terms is 8.72%.

How do I find personalized auto refinance rates?
RateGenius’ pre-qualification tool can help you see estimated rates you might qualify for before you apply with no impact to your credit score. To get more accurate rates, you’ll need to submit an application which will require a hard credit check.

What is an auto refinance rate?
When you borrow money, you plan to repay it at a predetermined interest rate over a loan term. An auto refinance rate is the fee, expressed as a percentage, paid on the refinance loan. This is what a lender charges you for borrowing the money in exchange for having a vehicle. When determining how much a loan would cost you, the auto refinance rate may be only one factor to consider, but it’s without a doubt the most significant.

MORE: Calculate how much refinancing your auto loan could save you

How does the the Federal Reserve affect auto refinance rates?
While the Federal Reserve does not set auto refinance rates, it does have an indirect influence on those rates. The nation’s central bank is the Federal Reserve. It steers the economy with the dual goals of promoting job creation and keeping inflation in check. The Federal Open Market Committee’s decisions to lift or lower short-term interest rates will prompt lenders to do the same.

What's the difference in interest rate and APR?
The interest rate is the cost of borrowing money, and it is expressed as a percentage, such as 4.5%. Annual percentage rate (APR) is not the same as interest rate. APR reflects the total amount you pay to borrow money, including interest and fees, and is often higher than an interest rate.

MORE: Understanding Interest Rates vs. APR for Car Loans

Does my credit score affect my rate?
Your credit score indicates how much of a liability (aka risk) you are to a bank or other financial institution. This usually means that the better your score is, the lower your interest rate will be. Auto refinance lenders also take LTV, DTI and other factors into consideration when calculating the rate they will offer you.

Does your vehicle qualify for refinancing?

Vehicle Icon

Make sure your vehicle is...

  • Under 12 years old
  • Under 120,000 miles
  • A personal use vehicle
Loan Icon

...and your current auto loan must have

  • A balance between $10,250 and $100,000
  • Funded at least 1 month ago
  • At least 24 months of payments left

* Annual Percentage Rate (APR) estimates represents the average available rates among lenders in RateGenius’ lender network across various ranges of credit. These rates assume a loan to retail value ratio (LTV) of no more than 125% and a debt to income ratio (DTI) of no more than 50%. In addition to an individual’s LTV and DTI, the actual APR you may receive is dependent upon many factors evaluated at the time of application, which may include, among other factors, credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Estimated APR’s may not be available in the geographical area of your residence. While efforts have been made to maintain accurate information, the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 24%) and only borrowers with excellent credit will qualify for the lowest rate available.