Can You Refinance A Car Loan Immediately? (2022)

Hello my fellow readers! This is your boy, writing about another article! This time, the question, “can you refinance a car loan immediately,” is the crowning topic of today. You might have been wondering this as you may have recently purchased a car.

can you refinance a car loan immediately
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Luckily for you, my good reader, we are just about to dive right into the logistics of that! Just remember to keep in mind that things still highly depend on your current situation, but even still, I am going to discuss options!

Can You Refinance A Car Loan Immediately?

I may end up sounding like a broken record, basing off of my other articles, but the answer is absolutely yes! Here’s the broken record part: but! And this is a big but, you still have several factors to think about, before you can even start thinking about refinancing.

And you know, I do not blame you for asking if can you refinance a car loan immediately, because who would not want to reduce their interest rates as well as lower the leftover amount left to be paid! But that is even assuming the lender will approve your new loan.

This is because, depending on the lender you conduct your transaction with, they might end up being happy go lucky enough to approve your loan immediately, or end up being super strict with it.

Like in some cases, some lenders will not even refinance your car loan only until after your current car loan has been open for six months and up, or so they say.

Some lenders might not even refinance until your current lender acquires the vehicle’s title from the manufacturer and or previous owner, which unfortunately, takes up to several months!

When Can You Refinance A Car Loan Immediately?

Speaking of more particular factors that might be the difference when can you refinance a car loan immediately, here are some more specific guidelines that you might want to consider to help you determine when you are able to refinance your car loan.

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Within The First 60 to 90 Days Of The Car Loan

  • It usually takes somewhere around sixty (two months) to ninety (three months) days for you to be able to get the title of the vehicle transferred from the manufacturer or previous vehicle owner to the current lender. This means most lenders will not even consider your application to refinance if the vehicle’s title has not been transferred yet.
  • During the application of your original loan, you may have gotten a temporary drop in your credit score. In this case, if you applied during that temporary drop, you might actually get higher interest rates for your targeted new loan. This means, unless you already have a great credit score, you might want to wait a little bit until your temporary credit score drop, levels out properly again.

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Around 180 Days Or 6 Months Of The Car Loan

  • Waiting at least six months before figuring out whether can you refinance a car loan immediately is a decent rule of thumb. Because this usually gives you enough time to recover your temporarily dropped credit score and allow you to qualify for better interest rates.
  • Though another great thing to consider if can you refinance a car loan immediately, is looking at your credit history. If it is your first time applying for a car loan, or you might have had a troubling credit score in the past, you might want to wait at least a year before applying to refinance.

Two Years Or More Left Off Your Car Loan

  • To actually save yourself more money in the long run, you might want to make sure that you have at the very least, two years remaining on your car loan. That is because you will actually lose the chance to save if you refinance too late in the term.
  • Can you refinance a car loan immediately? Yep, but most lenders have certain requirements that they need filled but the opportunity usually only comes later on in your loan. It still applies differently from lender to lender, so you might want to ask about a lender’s requirements before or while applying.


If you ever ask yourself, “can you refinance a car loan immediately,” a good rule of thumb is to wait at the very least, a few months to up to a year. But in theory, you most definitely could have your car loan refinanced immediately, just as long as you satisfy the lender’s requirements.

That is all, thank you!

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