Members Lower Their Car Payment by $88 per month on average *

Won't impact your credit score. *

Auto Loan Refinancing

Paying off your existing car loan and refinancing into a new one could help you save money by scoring a lower interest rate. If you’re still using dealer financing, rates have likely dropped since you got your existing loan. So, if you’ve been keeping up with your payments, now could be a great time to check your rate and save.

Drive Away With Better Terms


Check Your Rate in Minutes

Quickly see the offers that you could prequalify for.


Lower Your Monthly Payment

Flexible terms and great rates could help you pay less than you are right now.

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Easy, Simple, Secure

Our secure, encrypted (TLS/SSL) online application ensures a quick and hassle-free refinancing process.

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No Origination Fee

And, no prepayment penalties either.

How LendingClub Bank Auto Refinancing Works

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  • You're approved!

How LendingClub Bank Auto Refinancing Works

Frequently Asked Questions

Auto refinancing is when you pay off your existing car loan and replace it with a new one, usually from a different lender. Refinancing your auto loan could help you save money by securing a lower interest rate. Or you can reduce your monthly payments by adjusting the length of your loan term, freeing up cash for other financial needs.
To qualify for auto loan refinancing through LendingClub, your vehicle must be for personal use only, 10 years old or newer, under 120,000 miles, and your existing auto loan must be open for at least one month, have a balance between $4,000-$55,000, and at least 24 months of payments remaining.
Applying online is simple, takes only a few minutes, and you can do it all on your phone, tablet or laptop from the comfort of your own home. If you qualify, you’ll receive an offer almost immediately.
During the application process, we’ll ask about your driver’s license, vehicle registration, and proof of insurance. We may also ask you to send us additional documentation to confirm your income or other information, if necessary. Don’t worry, you can easily snap a photo and upload it right from your phone.
You can check your rate through LendingClub as many times as you like, with no impact to your credit score. No one except you can see the soft credit inquiries on your credit report. However, once you accept an offer and are approved for an auto refinance loan, we will do a hard credit check which will post to your credit report, indicating that you have accessed credit from LendingClub Bank. This may or may not impact your credit score in the short term.
Refinancing your existing auto loan can reduce your interest rate or lower your monthly payment. Try using LendingClub Bank auto refinance calculator to see what your savings could be. On average, members who refinance their car or truck with LendingClub Bank lower their payment by about $88 per month.