Glossary of refinancing terms
Original Loan Amount Your current loan amount
Original Term Time to pay off current loan
Original Interest Rate Current interest rate
Remaining Loan Amount Amount you owe
Desired Term Estimated refinance offer term
Desired Interest Rate Estimated refinance offer rate
$0.00
Estimated yearly savings:
$0
That's this many $3 cups of coffee:
0
FAQs
Can I save money by refinancing my car?
Refinancing your car can potentially save you money. Your savings depends on a multitude of factors including auto loan term, interest rate, where you live, what type of vehicle you are financing, and your credit score. All of these factor into the refinancing process and the final APR on your total loan amount. Understand how auto refinancing works
Can I pre-qualify to refinance my car?
Yes, it is possible to be pre-qualified for auto refinancing. You can quickly submit your information to check if you qualify. Please Apply to start the process and submit your information. Learn about terms and definitions related to pre-qualifying
How much money can I save refinancing my car?
This depends on the refinancing offer you select. If you want to save more money each month, there may be options to lower your monthly car loan payment. The amount of money you save is based on your financial health, term length, interest rate, and other loan factors. The average Caribou customer saves about $100* per month on their car payment.
What are the benefits of refinancing my vehicle?
There are several benefits when it comes to refinancing your vehicle. They include saving money on monthly payments, lowering your interest rate, paying off the loan early, lengthening the term of the loan so you have more time to pay, and other things like positioning to buy a house next.
Can I refinance my used car loan?
It is possible to refinance a used car loan. This depends on several factors like the amount of the loan, car's age, vehicle's mileage, and auto loan term.
Can I refinance my car right after I bought it?
Yes, you can usually refinance your car at any time after purchasing it from a dealer. Keep in mind car dealerships often add services and incentives which may end when you refinance the car. This applies to finance-related things like cash back programs, lessee deals, dealership cash offers, rewards programs, and other related things. This does not apply to things like GAP insurance, manufacturer's vehicle warranties, and dealership service contracts.
Can I refinance my car in someone else's name?
Refinancing allows for changes like adding a cosigner. However, your name must remain on the vehicle's title.
Can I have an auto loan cosigner?
Yes, refinancing can give you the opportunity to add a cosigner to the loan. The cosigner requirements vary depending on the lender.
Why is refinancing your car important?
Refinancing your vehicle is a great way to put money back into your monthly budget. When you refinance your car, truck, SUV or other vehicle, you have the opportunity to work with our auto loan officers to understand the lending process better. You can refinance your vehicle with several goals in mind such as extending your term, lowering your interest rate, or just simply saving money on your monthly payment.
How refinancing your auto loan can help you reach your goals
Lower your interest rate
Refinancing your car could be a great way to lower your auto loan interest rate. Several ways to qualify for lower rates are to decrease the term, make sure your credit report is free of errors, and find a cosigner.
Shorten your loan term
Shortening your loan term could help you pay off your car loan faster. This often lowers the interest over the term of the loan while increasing your monthly payment. This can cost more now to save later.
Save money each month
Check to see if refinancing your loan will save you money. You may be able to save money each month by refinancing your car. A lower monthly payment or interest rate can make all the difference in saving you money.
How
refinancing
your auto loan
can help you
reach your
goals
Calculate My Savings
Estimate how much you could save by refinancing your auto loan with our refinance calculator.*
Estimate how much you could save by refinancing your auto loan with our refinance calculator.*
Calculate My Savings
What numbers should I enter below?
Convenient, transparent refinancing that puts money back in your pocket, with offers from our network of lenders.
An easy way to refinance your car
1. Check your rate
Share minimal information and we’ll find competitive pre-qualified loan options in minutes, without impacting your credit.+ It’s that simple: no obligation and no Social Security number required.++
2. Select your loan offer
Pick the refi offer that works best for you, and select from our other products to help protect the value of your vehicle and keep unwanted expenses at bay. Our Customer Support Team is available to help you every step of the way.
3. Finalize your refinance
Submit a few pieces of information and sign your loan refinance documents online. We do the heavy lifting to refinance your loan. Then, it’s time to celebrate all your newfound savings!*
EASY PROCESS IN 3 STEPS
WHAT SETS US APART
Tech to unlock low rates,
people to make the process easy.
Competitive rates
Gain access to affordable refi rates that could save you thousands over the life of your loan* and insurance quotes.
Competitive rates
Gain access to affordable refi rates that could save you thousands over the life of your loan.*
Dedicated support
Our team of loan officers and insurance representatives are standing by, happy to help you through either process.
Our team of loan officers are standing by, happy to help you through the process.
Dedicated support
All in one place
Take control of your car finances when you apply for refinancing and car insurance through Caribou.
Take control of your car finances and find new ways to protect the value of your car when you refinance through Caribou.
All in one place
Fast and easy
Quickly access offers with no impact to your credit score,✝︎ and no SSN required.✝︎✝︎
Fast and easy
Quickly access offers with no impact to your credit score,✝︎ and no SSN required.✝︎✝︎
WHY PEOPLE LOVE US
100,000+ happy drivers with
more cash in their wallets
With Caribou, you could start saving today!
An easy way to refinance your car
Tech to unlock low rates, people to make the process easy.
100,000+ happy
drivers with
more cash in
their wallets
Disclaimer: Calculator estimates are for educational purposes only. Savings are not guaranteed. Figures and amounts shown are not representative of actual auto loan refinance rates, terms, or offers. Applicants must provide lenders with additional information including but not limited to credit score, location, and vehicle details.
Find out how much you
can save
Your car payments don't have to be expensive.
Find out how much you could save.
About the auto refinance calculator
Submit a few pieces of information and sign your loan refinance documents online. We do the heavy lifting to refinance your loan. Then, it’s time to celebrate all your newfound savings!*
