Looking for a lower monthly car loan payment? Refinancing your car loan through LendingClub could lower your monthly car payments and keep some money in your pocket.¹

In this article:

• How does it work?
• Who can refinance?
• What cars can be refinanced?

How does it work?

1. Check your rate. Tell us a little about yourself and your car. Checking your rate takes only a few minutes and won't affect your credit score.²
2. Select the best offer for you. We'll show you any loan offers you qualify for. Then, just complete a simple, secure online application.
3. Send in your documents. We'll let you know what to send us, such as items we need to verify your identity, income, employment, or vehicle details.

Auto refinance loans through LendingClub have fixed monthly payments. And you can make extra payments or pay off your loan early without any fees.

Who can refinance?

• United States citizens, permanent residents or those who are living in the US on a valid, long-term visa
• Individuals who are at least 18 years old
• Residents of the following states:
  
  

  Alabama	Louisiana	Oklahoma
  Arizona	Maryland	Oregon
  Arkansas	Michigan	Pennsylvania
  California	Minnesota	Rhode Island
  Delaware	Missouri	South Carolina
  Florida	Montana	South Dakota
  Georgia	Nebraska	Tennessee
  Idaho	New Jersey	Texas
  Illinois	New Mexico	Utah
  Indiana	New York	Washington
  Kansas	North Carolina	Wisconsin
  Kentucky	Ohio

   

What cars can be refinanced?

You can refinance most car makes and models that are approved or licensed for general retail in the United States. Depending on your credit, some rules may apply:

• Your car is less than 10 years old and has fewer than 120,000 miles.
• Your car loan has at least 24 months left.
• You’ve made all your car loan payments on time.
• Your car loan’s remaining balance is between $5,000 and $55,000.
• Your car is registered and titled in the state where you live.

Also, if you live in California, you can’t make changes to your title if your registration expires within 60 days. You’ll need to pay your registration fees before we can update your title.

Refinancing is not available for ATVs, RVs, motorcycles, commercial vehicles, or salvaged vehicles, as well as the following car makes and models:

• Chevrolet Express G-Series Van
• Cross Lander
• Daewoo
• Hummer
• Isuzu
• Mercury
• Nissan Leaf
• Oldsmobile
• Pontiac
• Saab
• Saturn
• Suzuki
• Volkswagen diesel vehicles
• Aston Martin
• Maserati
• Ferrari
• Lamborghini

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Learn more 

• Refinancing your car loan
• Hints for applying for an auto refinance loan
• How long does it take to refinance my car?
• Rates and fees for auto refinance loans
• Submitting documents for auto refinance loans
• Making payments for auto refinance loans

1. All loans are issued by WebBank, Member FDIC. Your actual rate depends upon your individual credit score and other key financing characteristics, including but not limited to the amount financed, term, a loan-to-value (LTV) ratio and other vehicle characteristics. If you decide to refinance through LendingClub, you may be able to lower your monthly loan payment or reduce your APR. However, if you choose a loan term that is longer than the term left on your existing auto loan, you will pay interest over a longer period of time, and the overall cost of your loan may be higher.
2. Checking your offers generates a soft credit inquiry, which does not impact your credit score. A hard inquiry that may affect your credit score appears when your loan is issued.