Auto Loan Refinancing
We’re here for you with rates as low as 5.150% APR*
Our Rates
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Loan Type |
Rates as low as |
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*APR = Annual Percentage Rate. Rates are based on creditworthiness and not all borrowers will qualify for the lowest rate. |
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Loan Type New Automobile Loan |
Rates as low as 5.150% APR* |
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Loan Type Used Automobile Loan |
Rates as low as 5.350% APR* |
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Loan Type Other/Recreational Vehicle Loan |
Rates as low as 6.750% APR* |
See What an Auto Loan Refinance Can Change for You
Lowering your interest rate, decreasing your monthly payment or paying off your car loan are all possible when refinancing your auto loan with us. Unlike some other lenders, we’ll also tell you if we don’t think a refinance makes sense for your financial situation.
0.25% Rate Reduction with Biweekly Payments
Set up biweekly auto loan payments through payroll deduction and receive a 0.25% rate reduction.
24-Hours or Less Loan Decisions
Loan decisions are often available within 24 hours or less. Final approval may take longer if additional documents are required.
You Are More Than Your Credit Score
DC Credit Union looks at your full application, which may include credit history, income, employment, down payment, loan amount, and repayment term to determine if one of our loans is a good fit for you.
Qualify for CU*Perks
Having a loan account is one step to help you qualify for our CU*Perks program. Learn more about member perks
Make your dream of savings a reality
Compare Your Current Auto Loan
Refinancing can lower your monthly payment or help you finish paying off your vehicle loan sooner. This calculator shows you what the numbers would look like if you switched to DC Credit Union.
Should I Refinance?
A refinance can affect more than your monthly payment. Compare the full loan before you decide.
Your Monthly Payment
A lower interest rate brings a lower monthly payment. But if you extend the loan term to stretch it out further, you’ll pay less each month but more in interest overall. Decide what matters more to your budget right now.
Loan Term and Total Interest
Refinancing into a shorter term gets you debt-free faster but increases your monthly payment. Extending the term keeps monthly payments lower but means paying more interest by the time the loan ends. Think through what works for your finances both today and down the road.
Still not sure? Give us a call at 771-333-2038
FAQs About Refinancing Your Auto Loan
Refinancing can bring up a lot of questions, especially when you’re comparing rates, payments, and terms. Here are the ones members ask us most often.
To make your application process faster, please have the following documents on hand:
- Identification: Valid driver’s license, state ID, passport, or military ID
- Social Security card or ITIN documentation
- Proof of income: Recent pay stubs (last 30 days), W-2 forms, or tax returns
- Proof of residence: Utility bill, lease agreement, or mortgage statement (within 60 days)
- Bank statements: Last 2-3 months showing account activity
- Employment verification: Contact information for your employer or offer letter if recently hired
- Down payment funds: Proof of available funds if making a down payment
- Vehicle information: VIN, purchase price, and seller details (once a vehicle is selected)
- Trade-in documentation: Title and registration if trading in a vehicle
- Proof of insurance: Insurance binder or policy declaration page
DC Credit Union auto loans are available to eligible members. If you are not a member yet, you can apply for membership as part of getting started with your loan application.
DC Credit Union membership is available to people who live, work, worship, or attend school in Washington, D.C., or Prince George’s County, Maryland. Businesses and other legal entities located in either area may also qualify.
Eligibility also extends to DC Credit Union employees, community volunteers, eligible family or household members, certain organizations connected to eligible individuals, and spouses of people who died while within the credit union’s field of membership.
Yes. DC Credit Union can help you review an auto loan you have with another lender. We’ll look at your current rate, payment, balance, and term so you can compare it with a refinance option.
Start with the loan you have now. Look at your rate, monthly payment, remaining balance, and months left on the loan. Then compare those details with the new rate, payment, and term before you decide.
You can fill out your application in 15-30 minutes. We usually make decisions within 24 hours or less. Final approval depends on how quickly you can get us the documents we need.
To make your application process faster, please have the following documents on hand:
- Identification: Valid driver’s license, state ID, passport, or military ID
- Social Security card or ITIN documentation
- Proof of income: Recent pay stubs (last 30 days), W-2 forms, or tax returns
- Proof of residence: Utility bill, lease agreement, or mortgage statement (within 60 days)
- Bank statements: Last 2-3 months showing account activity
- Employment verification: Contact information for your employer or offer letter if recently hired
- Down payment funds: Proof of available funds if making a down payment
- Vehicle information: VIN, purchase price, and seller details (once a vehicle is selected)
- Trade-in documentation: Title and registration if trading in a vehicle
- Proof of insurance: Insurance binder or policy declaration page
It may. DC Credit Union says refinancing may help lower your interest rate or monthly payment, depending on your current loan and the refinance terms. Compare the rate, payment, remaining balance, and loan term before you switch.
Get Help Tackling Your Debt
A lower monthly payment sounds appealing. But refinancing changes your loan term and total interest too. Don’t decide based on payment alone. Run the actual numbers to see what you’re really getting.
See Greenpath’s Comprehensive Guide to Debt Management Programs
The stress of debt can be simply overwhelming. But there’s hope. Your debt is manageable with a plan and support, especially with a debt management program (DMP) through a trustworthy nonprofit organization whose goal is to serve you. Our financial education partners at GreenPath can help.
Eligibility Requirements
DC Credit Union membership is available to people who live, work, worship, or attend school in Washington, D.C., or Prince George’s County, Maryland. Businesses and other legal entities located in either area may also qualify.
Eligibility also extends to DC Credit Union employees, community volunteers, eligible family or household members, certain organizations connected to eligible individuals, and spouses of people who died while within the credit union’s field of membership.
You must be eligible for DC Credit Union membership to receive an auto loan. Before you apply, please confirm that you meet one of the requirements above.
