What fees must be paid when refinancing your car loan?

The costs to refinance your auto loan will depend on a number of factors, including whether you have solid or poor credit. The lender will take into account the following:

  • Direct or third-party factors--If you refinance directly with your original lender, you may save on fees. Going to a third party will cause your original lender to charge you prepayment penalties.
  • Your credit score--Your credit was a factor when you took your original loan, and it is still a factor on your refinance. Low credit can raise fees.
  • Maturity date--If you are able to pay down your debt quicker, you will save on fees.


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