Compare refinancing car loans Australia
The table below displays a selection of used car loans from our Online Partners that could be used to refinance. Conditions may apply.
Instantly compare 290+ Canstar expert rated products based on the inputs below
Used Cars with no vehicle age limit, Borrow between $2,001 - $75,000
No early repayment, exit or monthly fees
Fixed rate term and no ongoing fees
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The initial results in the table above are sorted by Star Rating (High-Low) , then Comparison rate^ (Low-High) , then Provider Name (Alphabetical) . Additional filters may have been applied, see top of table for details.
About Used Car Loans for Refinancing
A refinance car loan is one way you could land a better deal that lowers your monthly repayments, but there are some costs and risks to be aware of as well.
What is a refinance car loan?
To refinance your car loan simply means to replace an existing loan with another one under new terms. If you choose wisely and are able to get approved, it may help you save money and give you greater flexibility and control over your car loan.
How does refinancing a car loan work?
If you choose to refinance your car loan by applying to switch to another provider, the process of doing this is normally much the same as with any other used car or new car loan.
- Find a car loan that you would like to apply for.
- Fill out the application. You may need to provide your new lender with the details of your existing loan.
- Once the new loan is approved, you will then enter into a new loan contract with the new lender.
- The money you borrow from the new lender is used to pay off the remaining balance of your previous car loan.
- It’s a good idea to check with your previous lender that the account you held with them is closed after the balance has been paid and your loan has been transferred.
→ Read more: How to find the cheapest car loans on offer
Frequently Asked Questions about Refinancing Car Loans
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Canstar Car Loans Star Ratings and Awards
Looking for an award-winning car loan or to switch lenders? Canstar rates products based on price and features in our Personal and Car Loans Star Ratings and Awards. Our expert Research team shares insights about which products offer 5-Star value and which providers offer outstanding value overall.
Canstar rates a range of financial products, covering banking, insurance and investment. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.
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About the authors
Nina Rinella, Editor-in-Chief
Joshua Sale, Group Manager, Research & Ratings
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Important information
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This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.