Why refinancing your car loan could be the right move for you.
At Everwise, we make the refinancing process fast, secure, and you can easily apply from the convenience of your home.
Is refinancing my car a good idea?
For many people, it is. Refinancing is a smart financial move as it can allow you to pay your car loan off at a lower interest rate. Refinancing means you could:- Lower your monthly payment with rates as low as 5.89% APR*.
- Save on interest over the life of your loan.
- Pay off your balance faster.
- Free up room in your budget for other priorities.
When is the best time to refinance my car?
Refinancing can be a smart move when:- Interest rates are lower than when you purchased your car.
- Your credit score has improved.
- You’re still early in your loan term when most of the interest is front-loaded, which allows for maximum savings.
- You want a lower monthly payment to free up room in your budget.
Will refinancing hurt my credit score?
Although refinancing can involve a credit check with a small hit to your score, consistent on-time payments on your new car loan can help build your credit over time. For many loan holders, the lower payments and reduced interest charges outweigh the short-term credit impact.
Three easy steps to refinance.
- Estimate your savings. Use our Auto Refi Calculator to see your potential new payment in a few minutes.
- Apply online (or at any Everwise branch).
- Start saving. Once approved, your old loan is paid off and your new auto loan with Everwise is set up.
Put your savings to work.
Imagine freeing up hundreds of dollars each year. You could pay down debt, build your savings, or enjoy breathing room in your monthly budget. With Everwise, your car payment can finally work for you, not against you.Ready to get started?
Lock in a better rate and start saving today.Estimate your new payment.
Use our calculator to see how much you could save each month and over the life of your loan.
*APR = Annual Percentage Rate. All loans are subject to credit approval and membership eligibility requirements. All credit union programs, rates, terms and conditions are subject to change without notice. Actual APR will vary depending on borrower's credit worthiness and underwriting factors. APR is lowest rate offered as of 10/01/2025.
New (2024 & Newer) 60 month term payment example: Based on a loan amount of $10,000 for 60 months at 5.89% APR a monthly payment would be approximately $193.25 per month.
New (2024 & Newer) 72 month term payment example: Based on a loan amount of $20,000 for 72 months at 6.09% APR a monthly payment would be approximately $333.08 per month.
New (2024 & Newer) 84 month term payment example: Based on a loan amount of $30,000 for 84 months at 7.29% APR a monthly payment would be approximately $458.32 per month.
Auto loan refinance is not intended for purchase transactions, only refinancing of existing auto loans. Everwise will not refinance current Everwise auto loans under this product.