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Auto Refinance

Auto Refinance

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Auto Refinance

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Save Money with Auto Loan Refinancing 

At Excite Credit Union, we believe in helping you save money wherever possible. That's why we offer competitive rates and flexible terms on auto loan refinancing. Whether you're looking to reduce your monthly payments or pay off your car sooner, refinancing your auto loan with us could be the smart financial move you've been searching for.


What is Refinancing?

When you refinance a loan, you are replacing a loan you already have with a new loan that pays off the balance or debt of the old loan.

When refinancing from one financial institution to another, the lender you are refinancing to will pay off your loan directly through the previous lender, and your vehicle will be (re)financed with a new loan at the rate and term you agreed to.

Not everyone will qualify for a refinance loan. Like applying for any auto loan, we will review several items including your credit history and income to determine your ability to make payments. 


Cash-out auto loan refinancing: How does it work?

Refinancing an auto loan could be a smart financial move under certain circumstances. A cash-out auto refinance loan might help you lower your payment and/or better manage your budget.

Whether or not you can get cash depends on how much equity you have in your car, your credit score, and the lender’s unique requirements.

A cash-out auto refinance gives you a new loan which pays off and replaces your first loan. The new loan would include an extra sum of money (cash out) that you receive at funding.


Auto Refinance Benefits

Hundreds of car owners choose to refinance their vehicles through Excite Credit Union. Here are some reasons why:

✔

Up to 1% Discount1

✔

Flexible Terms

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0 Payments For 90 Days2

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Cash Out options available3

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Fast Loan Decisions

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No Prepayment Penalties

Our great rates help you pay less!

New Vehicle Rates

All rates effective as of 07/11/2025

New vehicles are model year 2024 or newer with less than 20,000 miles. 

Min. Loan Amt. Term APR (as low as)
$5,000 up to 48 months 5.25%*
$5,000 49 - 60 months 6.00%*
$15,000 61 - 72 months 6.50%*
$20,000 73 - 84 months 6.75%*

Used Vehicles Rates

All rates effective as of 07/11/2025

Used vehicles are model year 2018 to 2023. Model year 2024/25 with more than 20,000 miles; 150,000 mile maximum.

Minimum Amount Term APR (as low as)
$5,000 up to 48 months 6.00%*
$5,000 49 - 60 months 6.25%*
$15,000 61 - 72 months 6.75%*
$20,000 73 - 84 months 7.00%*

*Rate reflects a max. .25% discount for one of the following: 0.25% discount for having Auto Pay; 0.25% discount if the Loan to Value (LTV) ratio is ≤ 85%; or a 0.25% discount for Electric Vehicles. If the amount financed is under $10,000 there will be a 0.50% rate add-on. If the vehicle has 100,000 miles or more there will be a 0.25% rate add-on.

Auto Refinance Calculator

Curious just how much you could be saving with us? It’s easy -- type in your information and create a monthly payment plan that’s right for you!

Complete An Auto Loan Refinance In 3 Easy Steps

Step
1

Apply Online

Quick and easy online application.

Step
2

Sign Your Paperwork

Agree to the loan amount, rates, and terms.

Step
3

Refinance & Save

Use your new APR to save more every month.

Complete the form below to get started:

Auto Protection

Looking to protect your investment? We got you, with GAP, mechanical breakdown and additional insurance through TruStage. Learn more here.

I've been a member here since May 2015, and gosh has this been an amazing financial establishment! I received an amazing interest rate on my jeep loan, plus this credit union helped me during hurricane Florence! I always recommend friends and family here!

Luis R.

Auto Loan FAQs

Auto refinancing is when you take out a new loan to pay off your current car loan. This can help you get a better interest rate, lower monthly payments, or change the loan term.

Refinancing can save you money by lowering your interest rate or monthly payment. It can also help if you want to change the length of your loan or if your credit score has improved since you first got the loan.

You should consider refinancing your car loan if you:

  • Improved your credit score
  • Want to change the term of your loan
  • Have positive equity

You should avoid refinancing for the time being if:

  • You have an older car
  • Your loan has prepayment penalties
  • You bought the car within the last six months

If your credit score has improved, interest rates have dropped, or you need lower monthly payments, refinancing might be a good option. Our team can help you decide what's best for your situation.

The following components are a few of the factors that help determine your auto loan’s interest rate:

  • Your credit score
  • Your debt-to-income ratio
  • The age of the car (new vs used)
  • The amount and term (how long you will take to pay off) of the loan

For our interest rates, see the chart above.

Disclosure

1 APR=Annual Percentage Rate. Existing Excite loans are excluded from this offer. Auto refinance loan must be at least $5,000. Vehicle must be 2011 or newer. To obtain the 1% rate reduction is subject to qualified borrowers and collateral approval. Rate cannot go below our floor rate of 5.25% APR. A reduction in your monthly payment will be based on a number of factors, including: your current interest rate and term of payment vs. the interest rate and term offered by Excite. Please note that refinancing may increase the total number of monthly payments and/or the total amount paid when compared to your current situation. Although your refinanced monthly payment may be lower, you should carefully consider the amount of any costs associated with refinancing such as any state taxes and titling fees as well as the potential increase in interest charges you may pay and the additional years needed to pay off your loan by refinancing. Also consider whether refinancing may terminate any ancillary products included in the loan you are refinancing such as GAP insurance/waivers. Requests to cancel a loan will be processed as a loan payoff and require the outstanding loan balance to be paid in full including any accrued fees and interest. This offer is subject to all Excite Credit Union loan policies and is subject to credit approval. 
2 No Payment for 90 days offer is subject to restrictions and credit qualification. Interest on 90 days no payment loans will begin to accrue immediately upon loan disbursal and will be amortized over the monthly loan payments. Cash out refinances excluded. Rates subject to change. 
3 Cash out refinance offer is subject to restrictions and credit qualification and not eligible for No Payment for 90 days offer.  

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