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Auto Loan Refinance

For a Better Car Loan

Refinance your auto loan from another lender with SCCU and save! Our lower rates can give you lower monthly payments, and potentially save you money over the life of your auto loan. SCCU refinancing is fast, easy, and convenient. Apply online or over the phone and get approved in minutes!
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Product Features

Auto Loan Refinance Interest Rates

Effective Date: June 01, 2023
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Payment Period Refinance APR* "As Low As" Minimum Loan Amount Payment per $1,000
Up to 36 Months 5.49% No minimum loan amount $30.19
Up to 48 Months 5.74% No minimum loan amount $23.37
Up to 60 Months 5.99% $10,000 $19.33
Up to 66 Months 6.24% $10,000 $17.94
Up to 72 Months 6.49% $12,000 $16.81
Up to 75 Months 6.74% $15,000 $16.38
Up to 78 Months 7.24% $20,000 $16.11
Up to 84 Months 7.49% $25,000 $15.33
Rates shown are fixed Annual Percentage Rates for vehicle model years 2023 and newer. Rates are subject to change. Your actual rate and terms are affected by your creditworthiness, term selected, vehicle type, and model year. Rates only apply to refinances of non-SCCU auto loans. You may be asked to furnish a down payment. Florida loans are subject to Documentary Stamp Tax. The tax amount is not included in the quoted APR. Certain restrictions apply. 

Frequently Asked Questions

There's no single answer that applies to every borrower. You should consider your individual situation when deciding whether to seek auto loan refinancing and the benefits you'd like to gain. Refinancing may make sense for you:
  • When you want to lower your monthly payments: Having your car refinanced for a longer term can help relieve financial stress, but consider increasing your payment when you’re financially able to do so.
  • If you'd like to have a better interest rate: It's smart to keep your eye on interest rates and take advantage of lower rates when they become available. You may also find that even when overall interest rates haven't dropped, a new or different lender may simply offer better rates. Just two or three percentages points can deliver significant savings over the term of your new loan.
  • If your financial circumstances have improved since you secured your original loan and you may now qualify for more favorable rates and terms on a new auto loan. If you want to shorten the term of your loan: Some borrowers prefer to pay off their auto loan debt quickly.

SCCU offers a convenient auto refinance calculator to help you  determine if refinancing your auto loan is right for you.

When you're ready to save with a lower auto loan rate or lower monthly payment, SCCU makes applying for car refinancing easy and more affordable. You'll have no out-of-pocket costs and the option of no payments for up to 120 days11. Get fast approval when you apply online or over the phone:
  • Brevard: 321-725-2222
  • Broward: 954-704-5000
  • Miami-Dade: 305-882-5000
  • All Other Areas: 800-447-7228

Simply put, your new auto refinance loan replaces the loan you currently have on your vehicle. The new loan pays off the debt on the old loan and nearly always will have different terms, such as the interest rate on the loan and how many months or years you have to pay off the new, refinanced loan.

Here's one example of how refinancing your car loan can affect how much you pay each month:
  • Let's say your original loan was in the amount of $30,000 and your loan now has a balance of $20,000. It has an annual percentage rate (APR) of 5 percent and a 60-month loan term, and your payment is approximately $566.
  • A new auto refinance loan for $20,000 with an APR of 3.14 percent and a term of 72 months would reduce your payment to approximately $305 per month.
SCCU has low rates on auto loan refinancing and auto purchases, with terms ranging from 36 to 78 months. Use our auto refinance calculator to get an idea of how much you could save with a loan from SCCU.

Auto loan refinancing decreases your car payments in one or both of these ways: With a lower interest rate and/or an extension in the number of months over which you pay off your loan. A lower interest rate typically allows you to pay a lower total of interest charges over the life of the loan. Though a longer term can reduce your monthly payment in the short term, you may end up paying more in interest over the life of your auto loan.

The answer depends on your individual situation. You may have to be at a point in your current loan at which you owe less than your car is worth so that you can get the most favorable interest rates on your vehicle refinance. You'll also need to check the specific terms of your current car loan to see if there will be any penalties for paying off your loan before the end of its term. Regardless how long you've had your current auto loan, you'll need to satisfy all of the requirements for the new auto loan refinance.

A lender will check your credit any time you apply for a loan, and that nearly always has some impact on your credit score, although the effects may be minor. In general, these are the factors involved:
  • "Hard" credit inquiries (such as with an auto or home loan application) will remain on your credit report for a couple of years but only reduce your credit score for a couple of months.
  • Since your new auto loan refinance will pay off your old loan and add a new loan to your credit report, the average age of your accounts—which affects your score—may decrease. It may help to retain older, unused credit, such as credit card accounts you haven't used in a long time but are still open , to reduce the effects of new credit.
Keep in mind that lowering your monthly payments by refinancing your car loan can make more room in your budget for managing other debt and building improved credit with a good record of on-time payments.

Guaranteed Asset Protection (GAP) provides coverage should your vehicle be stolen or totaled, leaving you owing more on your auto loan than your primary insurance company will pay. You have the responsibility of paying the difference, or covering the gap, between the Actual Cash Value Settlement amount from your primary insurance company and what you still owe when you lost your auto. GAP coverage pays this difference. Learn more about GAP coverage or call Express Services for more details:
  • Brevard: 321-725-2222
  • Broward: 954-704-5000
  • Miami-Dade: 305-882-5000
  • All Other Areas: 800-447-7228

We have a range of competitive interest rates for your auto refinancing and regularly update them here on our website. Check our Loan, Credit Card & Deposit Rates page for the latest information on our auto loan refinance rates and more.
APR = Annual Percentage Rate
¹CALCULATOR: The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.
²TERMS: Terms available up to 84 months for auto loan purchases and auto loan refinances, up to 240 months for boat and RV loan purchases, and up to 72 months for motorcycle loan purchases and are based on your credit quality, vehicle type, model, and year. Our usual credit criteria apply. Your term may be different. Qualified borrowers only.
³RATES: Rates are subject to change. Rates shown are fixed Annual Percentage Rates and are affected by your credit quality, model year, term selected, loan-to-value (LTV), and payment method. Your rate may be different. Qualified borrowers only. Our usual credit criteria apply. You may be asked to furnish a down payment. Rates shown for auto purchases/auto refinances are fixed Annual Percentage Rates for vehicle model years 2023 and newer. Rates shown for motorcycle purchases are fixed Annual Percentage Rates for vehicle model years 2020-2024. Florida loans are subject to Documentary Stamp Tax. The tax amount is not included in the quoted APR.