What Is Auto Refinance?

Looking for a lower monthly car loan payment? Refinancing your car loan with LendingClub Bank could lower your monthly car payments and keep some money in your pocket.*

How does it work?

You can start an application with us in a few short steps:

1. Check your rate.Tell us a little about yourself and your car. Checking your rate takes only a few minutes and won't affect your credit score.†

2. Select the best offer for you.We'll show you any loan offers you qualify for. Then, just complete a simple, secure online application.

3. Send in your documents.We'll let you know what to send us, such as items we need to verify your identity, income, employment, or vehicle details.

Auto Refinance loans from LendingClub Bank have fixed monthly payments. You can make extra payments or pay off your loan early without any fees.

Who can refinance?

To refinance with us, you must be:

• A United States citizen or permanent resident, or live in the US on a valid, long-term visa

• At least 18 years old

• A resident of any US state other than the following:

  • Alaska

  • District of Columbia

  • Hawaii

  • Maine

  • New Hampshire

  • North Dakota

  • Vermont

  • West Virginia

  • Wyoming (Note:We’re currently reviewing plans to offer Auto Refinance loans to residents of Wyoming. Check back soon for updates.)

What cars can be refinanced?

You can refinance most car makes and models that are approved or licensed for general retail in the United States. Depending on your credit, you may have to meet some or all of the following requirements:

• Your car must be less than 10 years old and have fewer than 120,000 miles.

• The term of your existing car loan must have at least 24 months left.

• All your car loan payments must be made on time.

• Your car loan’s remaining balance must be between $5,000 and $55,000.

• Your car must be registered and titled in the state where you live.

If you live in California, you can’t make changes to your title if your registration expires within 60 days. You’ll need to pay your registration fees before we can update your title.

Refinancing is not available for ATVs, RVs, motorcycles, commercial vehicles, salvaged vehicles, or the following car makes and models:

• Chevrolet Express G-Series Van

• Cross Lander

• Daewoo

• Hummer

• Isuzu

• Mercury

• Nissan Leaf

• Oldsmobile

• Pontiac

• Saab

• Saturn

• Suzuki

• Aston Martin

• Maserati

• Ferrari

• Lamborghini

*Savings are not guaranteed and depend upon various factors, including but not limited to interest rates, fees, and loan term length. 

† Checking your loan rate generates a soft credit inquiry on your credit report, which is visible only to you. A hard credit inquiry, which is visible to you and others, and which may affect your credit score, only appears on your credit report if and when a loan is issued to you. Your loan APR will depend upon your credit score and other key financing characteristics, including but not limited to the amount financed, loan term length, and your credit usage and history.