Auto refinancing: it might save you cash

How well do your finances read?

If you’re looking to make savings following the expense of the holidays, refinancing your auto loan may be an easy way to do it.

It’s an opportunity for approved applicants to possibly attain lower monthly car payments, and by reducing a fixed expense like that, the money saved is of course available for other things in life.

Like paying credit card bills, or even putting cash aside for a vacation.

How does it work?

If auto refinance is a new concept to you, it works by paying off your existing car loan and replacing it with a more affordable option with a lower interest rate, longer term, or both.

Online lender RoadLoans accepts auto refinance applications from people with all types of credit, so don’t be put off if you’ve gone through bankruptcy, credit counseling and repossession, and have bad credit.*

RoadLoans offers two main options for qualified applicants to refinance an auto loan: traditional refinancing and cash-back refinancing.

Traditional refinancing

  • This may enable approved applicants to lower their monthly payments, their annual percentage rate (APR), and even skip a payment.† Think what you could do with that money.

Cash-back refinancing

  • You might be able to reduce your monthly payment and get cash-back, too, by taking on a larger note, subject to credit and vehicle requirements.† That cash can be spent as you wish, whether to pay off high-interest debt or other commitments, for example, so there are fewer payments to keep track of each month. Alternatively, you might want to use the cash back for unexpected expenses like medical bills or home maintenance.

Applying is free

Either way, applying to refinance your car loan with RoadLoans is free – there are no application fees. You can do so online, whenever it suits you, for an instant decision.

If approved, just download the documents, sign and return them. RoadLoans provides fixed rate auto loans so you can rest assured your refinanced rate would not change.

There are also no prepayment penalties, which means you have the option to pay off your loan ahead of schedule at no extra cost.

As well as providing the chance to possibly reduce your monthly car payments, RoadLoans strives to offer the highest levels of customer service.

An established lender, the company has more than a decade of experience in auto finance.

Apply for auto refinancing with RoadLoans for an instant decision, and see if you can start saving.


* “Bad” or “Poor” credit generally is considered a FICO score around 600 and below by sources including the Consumer Federation of America and National Credit Reporting Association (reported by the Associated Press),,, Investopedia, and others. The Congressional Budget Office identifies a FICO score of 620 as the “cutoff” for prime loans. FICO scores are not the sole factor in lending decisions by and Santander Consumer USA.

† View disclosures and offer information.

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