How to Refinance a Car Loan

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Drivers in White Plains that are looking for the best way to refinance their car loan may have some questions like: “How do you refinance a car loan?” or “What to know when refinancing your car?” If you’re asking those questions, Ray Catena Lexus of White Plains is here to help! Learn more about the best way to refinance an auto loan in our guide below, then contact our financing center with your specific questions! As a Lexus dealer in NJ, we’re here to help you!

How do You Refinance a Car Loan?

When you refinance a car loan in Scarsdale or with a Lexus dealer in NJ, you’re trying to get a lower monthly payment and interest rate for each month. The best way to refinance an auto loan is to first refer to your documents. Find out how much you’re paying each month in interest and your monthly payments. When you have the correct numbers, follow these steps:

  • Check Your Credit Score: If you’ve been paying your bills on time since your vehicle was purchased, your credit score may have improved and you could benefit from refinancing.
  • Start Applying: Apply to multiple financial lenders to ensure you get the best rate. Be sure to submit all your applications within a 14-day period to minimize any negative impacts on your credit score.
  • Evaluate Offers: Take the time to calculate your offers to make sure they fit within your new budget. Use our payment calculator to help compare offers.
  • Decide Loan Term: Decide if a long or short-term loan best fits your budget. A short-term loan requires larger monthly payments, but you will pay less interest in total. With a long-term loan, you will have lower monthly payments but you will pay more in interest in the end.

If you have poor credit or no credit, you may have a harder time refinancing your loan. Having a family member or friend co-sign on your low may help lower the payment in Hartsdale.

What to Know When Refinancing Your Car

Along with checking your credit score, applying for loans, evaluating your offers, and deciding on your loan term, there are some other things you need to keep in mind when applying for a loan in Bronx.

  • Fees: Check your original car loan to make sure there aren’t any fees associated with paying it off early. If there are, refinancing may not be the best option for your budget.
  • Underwater Finances: If you owe more than your vehicle’s currently worth, it will be harder to get approved for refinancing.
  • Older Vehicles: A Lexus dealer in NJ may not finance an older car that has already experienced major depreciation.

Refinance Your Car With Ray Catena Lexus of White Plains!

Now that you know the answers to questions like: “How do you refinance a car loan?” and “What to know when refinancing your car?”, it’s time to apply for financing with Ray Catena Lexus of White Plains! Our team of financial experts will help you find out if refinancing is the best option for you and help you find a monthly payment and interest rate that fits your budget as well as help you learn how to trade in a car. We can also help you learn how to get a lower interest rate!

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Enter basic information to figure out the estimated auto loan rate or monthly payment amount for a new Lexus. Contact us with any questions you may have.


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Price(s) include(s) all costs to be paid by a consumer, except licensing costs, registration fees, and taxes.
Prices do not include $175 dealer doc fee.
MSRP contains base MSRP, any factory installed options, and delivery, processing and handling charges. Delivery, processing and handling fee is based on the value of the processing, handling and delivery services Lexus provides, as well as Lexus overall pricing structure. Lexus may make a profit on the delivery, processing and handling fee.

Based on model year EPA mileage ratings. Use for comparison purposes only. Your actual mileage will vary depending on how you drive and maintain your vehicle.

While great effort is made to ensure the accuracy of the information on this site, errors do occur so please verify information with a customer service rep. This is easily done by calling us at (914) 358-3000 or by visiting us at the dealership.

**Sticker reflects features and subscriptions available at time of original vehicle purchase. See your Lexus dealer for updated information.

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Ray Catena Lexus of White Plains 41.043564, -73.802699.