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Auto Refinance Resources

What is car refinancing & how does it work?

What is car refinancing & how does it work?

Auto loan refinancing is when you use a new car loan to pay down your old loan—often with a lower monthly payment or interest rate. 

Your credit score may be impacted when you refinance your auto loan thanks to a hard credit check, but the effects are typically short-lived.   
Mar 19, 2025
6 min read
The total cost of owning a car includes the purchase price, interest on loans, insurance, fuel, maintenance, repairs, taxes, registration, depreciation, and unexpected expenses.
Feb 5, 2025
3 min read
Should you lease or buy your next car? Leasing costs less on a monthly basis and puts limits on how you can use your car. Buying comes with ownership responsibility but will cost you less in the long run.
Jan 15, 2025
7 min read
Timing matters when refinancing an auto loan. So before opting for a new loan, make sure you understand when it’s a good idea to refinance and when it’s better to wait. 
Dec 21, 2024
6 min read
When to refinance your car loan (& when to wait)
If you’re in the market for a new car, you might be wondering if your current credit score will help you get a good deal or hold you back. Your credit score is an important part of the process, but it’s not the only factor. Though good and excellent credit scores help when taking out any line of credit, it is possible to buy a car with a less-than-ideal score.
Sep 30, 2024
6 min read
Why a good credit score is important when buying a car
A lot has changed since the pandemic in how Americans buy their cars.
May 10, 2023
6 min read
6 Tips for How to Get the Best Deal on a New Car in 2023
Is now a good time to buy a car? At the time of this writing, inventory shortages, rising interest rates, a lack of dealer incentives, and a stressful shopping experience are still making the car-buying process unusually difficult for buyers of both new and used cars.
Jan 4, 2023
8 min read
When Is a Good Time to Buy a Car?
Keep more of what you earn and earn more on what you save.
Check your rate. It won’t impact your credit score.2
Keep more of what you earn and earn more on what you save. Privacy & Security

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Savings are not guaranteed and depend upon various factors, including but not limited to interest rates, fees, and loan term length.

A representative example of payment terms for a Personal Loan is as follows: a borrower receives a loan of $17,413 for a term of 36 months, with an interest rate of 12.49% and a 6.00% origination fee of $1,045 for an APR of 16.86%. In this example, the borrower will receive $16,369 and will make 36 monthly payments of $582. Loan amounts range from $1,000 to $50,000 and loan term lengths range from 24 months to 72 months. Some amounts, rates, and term lengths may be unavailable in certain states. 

For Personal Loans, APR ranges from 7.90% to 35.99% and origination fee ranges from 0.00% to 8.00% of the loan amount. APRs and origination fees are determined at the time of application. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of  Apr 22, 2025 and are subject to change without notice. 

Checking a rate through us generates a soft credit inquiry on a person’s credit report, which is visible only to that person. A hard credit inquiry, which is visible to that person and others, and which may affect that person’s credit score, only appears on the person’s credit report if and when a loan is issued to the person. Credit eligibility is not guaranteed. APR and other credit terms depend upon credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and credit usage and history.  

Unless otherwise specified, all credit and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Credit products are subject to credit approval and may be subject to sufficient investor commitment. ​Deposit accounts are subject to approval. Only deposit products are FDIC insured.

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