Auto Loan Refinancing

Refinance your current auto loan from another lender and get $100¹

Refinance Your Auto Loan

Refinancing your auto loan from another lender through Credit Union of Richmond may help you lower your monthly payments, lower your interest rate or pay off your vehicle sooner. 

✓ Quick and easy online application process

✓ Low monthly payments

✓ Competitive, low rates

✓ Delay your first payment for 60 days

Calculate Your Monthly Payment

Use our Auto Loan Calculator to determine the best monthly payment for you.

Learn More

Car Loan Rates

Auto Loan Rates

Loan Rates

Term

APR*

New Car Loans

(2017 and newer)

Up to 84 months

3.24% - 18.00%

Used Car Loans

(2012 - 2016)

Up to 84 months 

4.49% - 18.00%

RVs, Boats and Motorcycles

(2017 and newer)

Up to 84 months

5.99% - 18.00%

RVs, Boats and Motorcycles

(2012 - 2016)

Up to 84 months

6.74% - 18.00

***Restrictions apply, all offers and rates are subject to change at any time.

APR=Annual Percentage Rate. The Annual Percentage Rates are the advertised rates and can vary based on creditworthiness, age of vehicle or RV, loan term and our internal lending criteria which means your rate may be higher. Not all borrowers will qualify. Rates are subject to change but will not exceed 18%. Financing up to 125% of the retail value of the auto may be available but not guaranteed by a source approved by us. Collateral subject to approval. To obtain the lowest advertised rate on a new or used auto or RV, a 20% down payment is required. Regardless of promotions and discounts, the rate cannot exceed 2.24% which is the minimum APR offered.

Payment example based off a $20,000 loan: A monthly payment of $496 at 2.24% APR with a 42 month term; A monthly payment of $334 at 3.49% APR with a 66 month term.

Why Refinance Your Auto Loan?

When you refinance your vehicle, you are agreeing to take out a new loan with different terms to pay off your exisitng loan. Refinancing may help you save money by reducing your rate, your monthly payments or both. 

Decrease Your Car Payment: Refinancing your car loan could possibly bring your interest rate down, which in turn could mean that your monthly payment could also decrease.

Lower Interest Rate: Refinancing your car loan may lower your interest rate, which may mean a lower monthly payment and less interest during the term of your loan.

Shorter Terms: Refinancing could possibly mean that you could pay off your car sooner than expected with a lower monthly payment and less interest.

Improved Credit: If your credit score has improved since first financing your vehicle, you may get a lower monthly payment and rate when you refinance.

Ready to Apply?

Complete the loan application and click submit. If you have any questions please contact our loan department at 804-355-9684.

Special Offer

¹When you refinance your vehicle though Credit Union of Richmond, we will deposit a total of $100 into your savings.

¹Restrictions apply, all offers and rates are subject to change. Auto loans currently financed through the credit union cannot be refinanced with this offer.

*APR=Annual Percentage Rate. The Annual Percentage Rates are the advertised rates and can vary based on creditworthiness, age of vehicle, loan term and our internal lending criteria which means your rate may be higher. Not all borrowers will qualify. Rates are subject to change but will not exceed 18%. Financing up to 125% of the retail value of the auto may be available but not guaranteed by a source approved by us. Collateral subject to approval. The rate on a new/used vehicle could be as low as 2.24% APR which includes a discount of up to 1% off the current rate utilizing the auto loan recapture promotion. This promotion is only available if the auto is refinanced from another lender. Regardless of promotions and discounts, the rate cannot exceed 2.24% which is the minimum APR offered. If the promotional rate is not utilized, then our standard auto rates range from 2.49%-18% APR. Loans currently financed through the credit union cannot be refinanced with this offer.

Payment example based off a $20,000 loan: A monthly payment of $496 at 2.24% APR with a 42 month term; A monthly payment of $334 at 3.49% APR with a 66 month term.

Car Loan Resources

Loan Calculator

Do you have a monthly a monthly payment in mind? Do you want help figuring out a monthly payment that suits you? *The loan calculator can help you estimate your loan repayment options.

Rates

Credit Union of Richmond offers competitive rates that help our members keep money in their pockets.

Car Loans

Whether your vehicle is new or used, you are looking for your first car or refinancing, our staff can assist you every step of the way.

*This calculator is for general education purposes only and is not an illustration of current Credit Union of Richmond’s products and offers.