Refinance Auto Loans

The right vehicle financing means affordable payments, a great interest rate, and peace of mind. Align your budget with a refinanced car loan.
 
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HAVE RATES GONE DOWN SINCE YOU BOUGHT YOUR CAR?

Good news!  You might be able to save money on your monthly car payment by refinancing your PSECU auto loan or rolling over the auto loan you have elsewhere, with us.

Low rates

Refinance loan rates are among the best.

4.8-star rating (out of 5)

One of Pennsylvania’s top auto lenders.*

Loan terms that work for you

We offer loan terms from 1 to 120 months.

Quick, simple application

Most applicants get a decision quickly.

Why pay more when you don't have to?

Check your payment with our car loan calculator.

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Refinancing a Car Loan

The right vehicle financing may lower your payments or reduce the amount of interest you pay. That leaves more cash for things you want to do. 

Refinancing a car means you take out a new auto loan and use the funding to pay off your existing loan. You’ll still have car payments, but you’ll have a new loan agreement that might offer better monthly payments, a lower interest rate, or a different term (length) of the loan. 


If you have an auto loan with another financial institution, you may be able to save by rolling over that auto loan to PSECU. Your refinanced loan might:

  • Lower your interest rate: A refinanced loan may offer a lower interest rate. Reducing the interest you pay can mean smaller monthly payments and less total interest. 
  • Make car payments more affordable: If your interest rate goes down, your payment might go down, too. A longer loan term also can lower payments. We offer terms up to 10 years.
  • Pay off the car sooner: With a shorter loan term, you’ll own your vehicle free and clear sooner. You also could pay less interest overall. 

Apply now for a refinanced car loan.

Is a Car Refinance Loan Right for You?

Our loan refinancing process is easy, with low rates and flexible terms to make car ownership even better. 

Apply online.

Gather the information you’ll need, including monthly income, vehicle information, and the amount of your existing 10-day loan payoff.

Get an answer – fast.

You’ll receive your loan decision fast – often within minutes and usually the same day. We’ll walk you through the process of paying off your previous loan. 

Begin making your new payment.

Check your loan documents to confirm your new payment amount and payment start date. 
Any PSECU member can apply for a refinance loan. Not yet a member? Open an account. It takes only a few minutes, but you’ll benefit from great rates, low fees, and more money back each year.

Auto Loan Rates

Valid as of 01/26/2020 8:21 AM EST
Term APR* Description
1-36 Months 2.49% New / Used Auto
37-60 Months 3.49% New / Used Auto
61-84 Months 3.99% New / Used Auto
85-120 Months 8.74% New / Used Auto

* APR denotes Annual Percentage Rate

Rates reflect a .25% APR reduction for Automatic Payment Service and loan amounts up to 100% of the retail value of the vehicle. Your rate will increase if you discontinue Automatic Payment Service. PSECU will charge an additional 2% to the current interest rate when financing a vehicle for more than 100% and up to 120% of the retail value, and an additional 3% to the current interest rate when financing a vehicle for more than 120% and up to 130% of the retail value. PSECU will only finance up to 100% of the retail value of the vehicle for refinance of an existing PSECU vehicle loan. Monthly payment example: 36 monthly payments of $28.86 per $1,000 borrowed at the 2.49% APR or 60 monthly payments of $18.19 per $1,000 borrowed at the 3.49% APR. The Manufacturer's Suggested Retail Price determines new vehicle values; Kelley Blue Book® or other authorized guides determine used vehicle values. Minimum value is $3,000. PSECU makes all final decisions regarding vehicle value and proper rate. Loan rates are subject to change. See the Consumer Note, Disclosure and Security Agreement or call 800.237.7328. Kelley Blue Book® is a registered trademark of the Kelley Blue Book Co., Inc.

Vehicle Loan Terms

Types  Value (Minimum) Loan Amount (Minimum) Term (Maximum)
New & Used Vehicles $40,000 $40,000 120 months
New & Used Vehicles $20,000 NA 84 months
New & Used Vehicles $12,000 NA 72 months
New & Used Vehicles $8,000 NA 60 months
New & Used Vehicles $6,000 NA 48 months
New & Used Vehicles $3,000 NA 36 months

Rates reflect a .25% APR reduction for Automatic Payment Service and loan amounts up to 100% of the retail value of the vehicle. Your rate will increase if you discontinue Automatic Payment Service. PSECU will charge an additional 2% to the current interest rate when financing a vehicle for more than 100% and up to 120% of the retail value, and an additional 3% to the current interest rate when financing a vehicle for more than 120% and up to 130% of the retail value. PSECU will only finance up to 100% of the retail value of the vehicle for refinance of an existing PSECU vehicle loan. Monthly payment example: 36 monthly payments of $28.86 per $1,000 borrowed at the 2.49% APR or 60 monthly payments of $18.19 per $1,000 borrowed at the 3.49% APR. The Manufacturer's Suggested Retail Price determines new vehicle values; Kelley Blue Book® or other authorized guides determine used vehicle values. Minimum value is $3,000. PSECU makes all final decisions regarding vehicle value and proper rate. Loan rates are subject to change. See the Consumer Note, Disclosure and Security Agreement  or call 800.237.7328. Kelley Blue Book® is a registered trademark of the Kelley Blue Book Co., Inc.

Refinancing may be a good option if rates have gone down or you didn’t get the best rate when you purchased. Sometimes, refinancing your loan can help if the unexpected has stretched your monthly budget and you need lower payments. If your lease is running out and you want to own the car, learn more about how to buy out a lease.
In general, our car refinance loans have the same terms as other new and used auto loans. We refinance new cars up to 100% for PSECU loan refinancing, and up to 130% for non-PSECU loan refinancing. Used vehicle financing is available up to the retail value of any car or truck worth at least $3,000, based on Kelley Blue Book® or other authorized pricing guides. Learn more about loans for new and used cars.
In addition to the above, you should know that if you opt to refinance an existing PSECU loan, you’ll need to add $1,000 to the loan amount. No additional funding is required if you’re rolling over a non-PSECU loan.
Yes! Even if your original loan is with another institution, you can take advantage of our great rates. We’ll pay off your existing loan and replace it with a new loan of up to 130% of the vehicle’s value. For a rollover loan, you are not required to increase the loan amount with additional funding. 

If you’re ready to refinance, you can apply now. Apply for an auto loan.

*Based on the Auto Lender Summary from Experian.