Refinancing can make a real difference

Refinancing is an excellent way to change the terms of your current auto loan, which can help you lower the annual percentage rate (APR). A lower APR can mean monthly savings for you, freeing up cash for you to use on other expenses.

Refinancing can help you reduce your current rate and interest you pay over time, while also lowering your car payments.

You may be surprised to learn you can also get cash back from your car’s equity. Borrow up to 100% of your car's Kelley Blue Book value to use for your financial needs.

On average, our members save nearly $1,800 over the life of their loan by financing their car with us – now it's your turn to save.2

Whether you recently purchased a vehicle and want to find more affordable terms, or have a higher-rate car loan elsewhere, refinancing may be the right solution for you.

Refinancing Benefits

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Easy online application

Check your rate and pre-qualify within minutes

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Switch to save

Calculate your potential savings side-by-side

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Peace of mind

Lock in your rate for up to 15 days – guaranteed3

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Affordable financing 

Enjoy no application fees, no origination fees and no pre-payment fees

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Rewards for on-time payments

Members may qualify for rate reductions with LevelUp4

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Cash back opportunities

Borrow from your car’s value to help with your financial needs

Auto Loan Refinance Rates

Rates Effective 2/1/2023
Term Minimum Amount APR Range1
0 to 48 months None 5.44% to 17.99%
49 to 66 months None 5.54% to 17.99%
67 to 72 months $10,000 For 72 Month Term 5.84% to 17.99%
73 to 84 months $15,000 For 84 Month Term 6.29% to 17.99%

Frequently Asked Questions

A Patelco member uses the online Switch to Save tool to see if he can get better financing on his loan.
See if refinancing is right for you

With our Switch to Save tool, it’s easy to see how much you can save by comparing your current loan and new loan financing side-by-side.

A Patelco member watches the sunset from her car window.
Start saving on your car payments
Get pre-qualified and see your rate, terms, and payment amount – with no impact to your credit score.5

Recommended Resources

Be sure to explore our financial well-being resources. 

1 Used Auto rates starting at 5.44% APR effective 2/1/2023; subject to change without notice. Patelco offers a range of base rates and discounts that depend on factors such as credit history, loan term, Patelco account relationship, vehicle mileage, amount financed and vehicle age. Additional discounts may apply. Vehicle mileage greater than 100k will include an additional .50% added to rate. Actual rates are disclosed to approved applicants in writing prior to loan consummation and may be as high as 15.30% APR. To learn more about rates, terms, and exclusive discounts for members, such as Commitment Household, call 800.358.8228 or visit any Patelco branch.

Used Auto loan payment examples: 0‑48 months: $23.29 per month per $1000 borrowed at 5.44% APR for 48 months; 49‑66 months: $17.65 per month per $1000 borrowed at 5.54% APR for 66 months; 67‑72 months: $16.54 per month per $1000 borrowed at 5.84% APR for 72 months; 73‑84 months: $14.94 per month per $1000 borrowed at 6.29% APR for 84 months.

2 Source: Datatrac, NCUA, and CUNA. The study was completed by the Credit Union National Association (CUNA) year ending 2021. CUNA estimates that financing a $30,000 new automobile for 60 months at Patelco will save members an average of $1,780 over five years, or $356 each year, as compared to what they would pay at another banking institution in California. Member results may vary. Subject to approval.

3 Auto loan rate is valid 15 days from your loan approval date. Any change to term and/or vehicle information, credit history, account relationship, and Patelco promotional discounts or programs may result in a rate change. Your final rate will be disclosed to you in writing.

4 LevelUp is offered to members who are approved for the following loans at Patelco's credit tier 2 or higher: auto, motorcycle, RV, boat, and personal loans, excluding all lines of credit. Total discount of up to 1.50% APR (Annual Percentage Rate) applied in 0.50% APR increments for every 12 consecutive on-time monthly payments. Maximum discount will never cause the final APR to be lower than the LevelUp floor rate for the specific loan and term at time of funding. Monthly payment amount remains constant, with additional money going toward principal, which shortens the term of the loan and the total amount paid over the life of the loan.

5 Patelco runs a “soft” credit pull to determine which pre-qualification offer you qualify for. This doesn’t affect your credit score. If you choose to proceed with a loan application, Patelco will request your full credit report from one or more credit reporting agencies. This will be a “hard” pull and may affect your credit. If necessary, we may also share certain information about you with third parties, like our insurers, to process your request.