Auto Refinancing is Easy
Refinance your vehicle for a better rate and a smaller monthly payment anywhere in Canada — no pressure, no commitment.
Your Car Loan Is Probably Overpriced
Most Canadians 🇨🇦 never refinance their car — even though:
- Interest rates drop
- Credit scores improve
- Lenders offer better programs every year
That means millions of drivers are still paying dealership-level interest rates long after they no longer need to.
AutoRefinancing.ca fixes that.
1
Application
Please confirm your Vehicle Identification Number (VIN) and provide some details about your vehicle, including its make, model, year, and current mileage. Also, share information about your existing loan, such as your current interest rate, monthly payment, and loan balance, so we can help you explore the best refinancing options available.
2
Sign Online
Sign all your documents online without ever leaving home. Once your rate and pre-approval are secured, your Finance Manager will send everything to you via DocuSign, allowing you to review and sign safely and conveniently from anywhere.
3
Keep Driving
Lower your payments with reduced interest rates. Save thousands over the life of your loan while making your monthly budget more manageable.
FAQs
What is car refinancing?
Car refinancing replaces your existing loan with a new one designed to lower your interest rate, reduce your monthly payment, or improve your loan terms.
Why would I consider refinancing my car?
People refinance to get a lower interest rate, reduce their monthly payment, adjust their loan term, or roll other debts into one simple loan.
When is the right time to refinance my car?
Refinancing is often worth considering when interest rates drop, your credit score improves, or your finances take a positive turn.
Are there any fees associated with car refinancing?
Refinancing may come with fees like loan origination charges, prepayment penalties, or title transfer costs. It’s important to factor these in when weighing the benefits.
How long does the car refinancing process take?
Refinancing typically takes anywhere from one day to a week, depending on your lender and the documents required.
Can I refinance a car that is underwater (I owe more than it's worth)?
Some lenders may refinance a car loan that’s underwater, but it can be challenging. You might need to contribute extra funds or consider alternative solutions.
Do I need to go through the same lender for refinancing?
No — you’re free to refinance with a different lender. Comparing offers from multiple lenders can help you secure the best terms.
Does refinancing affect my credit score?
Applying for a refinance may cause a small, temporary drop in your credit score due to a hard inquiry. Making on-time payments on your new loan can help improve your credit over time.
Can I refinance my car more than once?
Yes, you can refinance your car multiple times if it benefits your finances. Just be sure to account for any fees and confirm the savings outweigh the costs.
How much can I save by refinancing my car?
Your potential savings depend on factors such as the new interest rate, loan term, and your current financial situation. Use online calculators or speak with lenders to estimate what you could save.