Auto refinancing works much like refinancing your home. You fill out an application with a lender including the year and model of your car. The lender will check your credit report and will estimate the current value of the car.
Check your credit report to make sure there are no errors and try paying down any credit card debt. Once you’re ready to apply for a car refinancing loan, the actual application usually takes less than five minutes.
If your credit score is so low that you’re not getting any loan offers at lower rates, try waiting a month or two to apply for a loan. Work on your credit score a little and keep up with your payments.