Car Loan Refinance Australia: Compare Rates From 30+ Lenders
Car Loan Calculator
Estimate your repayments instantly — no credit check required
Estimates only. Actual rates depend on your credit profile.
Already have a car loan? Refinancing could save you hundreds
If your circumstances or the market has changed since you took out your current car loan, refinancing could unlock a lower interest rate and reduce your monthly repayments.
We compare your existing loan against our full panel of 30+ lenders to see if a better deal is available — with no early exit penalties and a quick, easy switching process.
Why Australians Refinance Their Car Loans
Refinancing means replacing your existing car loan with a new one, ideally on better terms. People typically consider refinancing when interest rates have moved since they took out their original loan, when their credit situation has improved (for example, after clearing a default or building a stronger repayment history), or when their original loan was arranged through dealer finance at a higher rate than the broader market offers.
Refinancing isn't right for every situation — there are costs and considerations to weigh up, including any early exit fees on your current loan and how much loan term you have left. Drive Select Finance compares refinance options from 30+ lenders so you can see clearly whether switching makes financial sense for you.
When Refinancing Is Worth Considering
Refinancing tends to make the most sense in a specific set of circumstances.
Your Original Rate Was High
If your car loan was arranged through dealer finance, your rate may be higher than what's currently available across the broader lending market.
Your Credit Profile Has Improved
If you've built a stronger repayment history or resolved a past default since your original loan, you may now qualify for a considerably better rate.
Market Rates Have Moved
If broader interest rates have shifted since you took out your loan, refinancing lets you access current market pricing instead of your original rate.
You Want to Change Your Loan Term
Refinancing can also be used to extend or shorten your remaining loan term to better match your current budget or payoff goals.
What to Check Before You Refinance
A few practical checks up front will tell you whether refinancing genuinely makes financial sense in your situation.
Exit Fees and Break Costs on Your Current Loan
Some car loans include early payout fees or break costs. Before refinancing, it's worth requesting a payout figure from your current lender so you can weigh the cost of exiting early against the savings a new loan would offer.
How Much Term Remains on Your Current Loan
Refinancing tends to offer the most value earlier in a loan term, when there's more interest remaining to be saved. If you're close to paying your current loan off, the savings from refinancing may be smaller relative to the effort of switching.
Your Vehicle's Current Value vs Loan Balance
Lenders will assess your vehicle's current value against your outstanding loan balance. If your loan balance is significantly higher than the car's current value, this can affect which refinance options are available to you, and your broker can advise on the best path forward.
Refinancing a Car Loan Into Your Name Only
A common reason people refinance is to move an existing car loan out of a joint arrangement and into their own name only — for example, after a separation, or once a guarantor is no longer needed.
Removing a Co-Borrower or Guarantor
If your current car loan is jointly held or guaranteed by someone else, refinancing lets you apply for a new loan solely in your name, based on your own credit history and income, replacing the existing car loan entirely.
What Lenders Will Assess
You'll need to qualify individually — lenders will look at your personal credit history, income and existing financial commitments on their own merits, without the other person's income supporting the application.
The Original Loan Is Fully Paid Out
Your new, sole-name loan pays out and closes the existing car loan completely, releasing the other party from any further obligation once settlement is complete.
Get pre-approved and shop with confidence.
Pre-approval is free, takes minutes, and gives you a significant advantage when buying a car.
Know Your Budget Before You Shop
Walk into any dealership or approach any private seller knowing exactly how much you can borrow and at what rate. No surprises, no disappointment.
Stronger Negotiating Position
When you have pre-approved finance, you're a cash buyer in the seller's eyes. That negotiating power translates directly into a lower purchase price.
Move Fast on the Right Car
The best cars sell quickly — especially in private sale. With pre-approval in hand, you can commit immediately without waiting days for finance to be arranged.
No Credit Score Impact
Pre-approval uses a soft credit enquiry only. Your credit file isn't touched until you formally proceed with a lender.
Valid for 30–90 Days
Pre-approval gives you time to shop without the clock ticking. Take the pressure off and find the right vehicle at the right price.
Avoid Dealer Finance Traps
With your own finance pre-approved, you can confidently decline the dealership's in-house finance — which is almost always at a higher rate.
Car Loan Refinancing: Lower Rates and Lower Repayments
If you took out your current car loan a few years ago directly through a dealership or an expensive mainstream bank, there is a very high probability that you are paying too much. Interest rates shift, credit scores improve, and market options evolve. Our car loan refinancing service is designed to replace your current, expensive car loan with a new, highly competitive, lower-rate alternative—putting cash back into your pocket every single month.
The Benefits of Upgrading Your Finance Profile
Poor credit history but still want to refinance?
Even with a few credit issues on file, refinancing your existing car loan may still be possible — especially if your income and repayment history have improved.
Our specialist lenders assess your full current situation, giving you a genuine shot at a better deal even if your credit isn't perfect.
Four simple steps to your new car.
Most customers are driving away within 24 hours of applying.
Apply Online in 2 Minutes
Fill in our quick form — no paperwork, no stress. Tell us what car you're looking to finance and your situation. Won't affect your credit score.
We Compare 30+ Lenders
Your dedicated broker searches our full lender panel to find the best rate and terms for your profile and the vehicle you're buying.
Approve Your Best Rate
See your personalised options side by side. Choose the loan that works best for you — full transparency, no hidden fees.
Drive Away!
Loan settled, paperwork handled. You pick up your car — often within 24 hours of submitting your application.
We work for you — not the banks.
30+ Lenders Competing For You
Our lender panel competes for your business — driving rates down and your options up. You get the best deal, not the most convenient one for the bank.
Zero Credit Score Impact
Our initial quote process uses a soft enquiry only. Your credit score is never touched until you're 100% ready to proceed — and only with your consent.
24-Hour Approvals
Pre-approvals in minutes. Formal approvals typically within 24 hours. We've helped thousands of Aussies drive away the same week they applied.
Expert Dedicated Broker
You get a real human broker who manages your application from start to settlement. Not a chatbot. Not a call centre. A dedicated finance specialist.
Rates from 5.68% p.a.
Because we compare 30+ lenders simultaneously, we consistently secure rates that beat what banks and dealers offer directly.
Bad Credit Specialists
Defaults, missed payments, or a past bankruptcy? We have specialist lenders who work with all credit types. We find options others can't.
We Do All the Switching Work for You
Moving your car loan over is completely stress-free. Our finance specialists coordinate directly with your current lender to secure a formal payout figure. We then seamlessly set up your new, cheaper loan structure and clear the old debt automatically. You don't have to worry about complicated paperwork—just enjoy your new, lower payments.
Free Car Refinance QuoteRefinance options — tailored to you.
Whether you're buying new, used, EV, or refinancing — we have a solution tailored to your needs.
New Car Loans
Finance your brand new vehicle with competitive rates from our 30+ lender panel. New cars attract some of the lowest rates available.
Used Car Loans
Don't let a pre-owned vehicle hold you back. We finance used cars of all ages and conditions, with lenders who specialise in older assets.
EV & Hybrid Loans
Go green with competitive EV finance. Some lenders offer preferential rates for electric and hybrid vehicles.
Car Loan Refinance
Already have a car loan? Refinancing could save you hundreds per month. We compare options to find you a better deal.
ABN Car Loans
Self-employed or running a business? We structure car loans for ABN holders to maximise your tax benefits and cash flow.
Bad Credit Car Loans
Previous credit issues? We work with specialist lenders who assess your full situation — not just your credit score.
Customer Reviews.
"From application to approval in under 2 hours. The broker kept me updated the whole time. Rate was significantly lower than what my bank quoted. Couldn't be happier!"
"As someone self-employed I expected a nightmare. These guys found me a lender that actually understood my situation. Sorted in 24 hours. Absolute legends."
"Saved $4,200 compared to the dealer's in-house finance. The whole process was clear and transparent from day one. Will use again without question."
Car finance across Australia.
We help drivers in every major city secure the best car loan rates. Explore your local page for tailored car finance options.
Common car loan questions.
Still have questions? Call us — we're always happy to chat.
Ready to find your best refinance rate?
No credit impact. No broker fees. No obligation. Just a free, personalised car loan refinance quote from Australia's specialists.