Use Our Specialists to Source Cost-effective Car Refinancing

If you’re part way through a motor vehicle funding term and it’s just no longer working for you, speak with our specialist brokers about changing to a new funding arrangement that does work with your current situation. A new credit package, specifically sourced and structured to target your objectives – lower rates, savings, lower repayments or shorter term to own the vehicle sooner.

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Secure Better Rates, Lower Payments, and Flexible Terms Today!

With terms for new vehicle funding up to 7 years, it is entirely possible that some individuals and businesses, will experience a change of circumstances at some point during those 4,5,6 or 7years. It is also entirely possible and probable that lending market conditions will also change over that timeframe – interest rate fluctuations, new lending products, tax ruling. Secure a better interest rate, save on interest payments, get lower repayments, extended terms or fund a balloon or residual.

Whatever the individual circumstances and motivation for the change, our brokers will source options and work through the potential savings, benefits and costs involved. Allowing customers to make an informed decision. To find out exactly what could be possible with your scenario, call us now or submit an online enquiry. With our fast response and 24 hour approvals, you could have your doubts eased and a workable option within days.
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Savings, Budgeting, Ease Cash Flow – the Potential Benefits of Refinancing a Car Loan

The potential benefits of changing motor vehicle credit arrangements can vary with individual reasons for doing so and the individual goals being targeted. If a lower interest rate is secured, savings may be realised in total interest payable. If the rate market has fallen since the original credit was taken out, a lower rate may now be possible.

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If the repayment figure has become unworkable due to changes in income, our brokers will target a restructure of the repayment schedule. Negotiating a monthly commitment in line with current income and repayment capacity.

Securing credit to payout a residual or balloon may provide tax benefits to the business and ease pressure on the operation by not having to pay the lump sum from cash reserves. A new balloon or residual is an option with the new credit to lower repayments.

If the current vehicle funding was approved as Low Docs, No Docs or Bad Credit and the circumstances of the business or individual have changed, a new vehicle credit deal may provide an easing of conditions which are challenging the operation.

Where additional collateral was required for the current credit, a reworked option may remove that condition and free that collateral for other purposes.

There are costs associated with establishing lending arrangements and finalising credit early. Costs typically apply for ending an existing credit prior to the end of the agreed term. Costs will also apply to establishing the new funding arrangements. These charges will increase the amount required for the new funding and should be taken into consideration with the package we source for you.

What benefits could we achieve for you with car refinancing? Use our car refinancing calculator for estimates and contact us for a quote for refinancing a car loan.

  • Save on interest with lower rates with car refinancing.
  • Rework repayments to suit current budget.
  • Ease unworkable lending conditions with refinancing a car loan.

Using the Car Refinancing Loan Calculator to Estimate Potential Savings

Our refinancing calculator is an essential tool for anyone considering changing their current motor vehicle funding. Easy to use and a convenient way to get rough estimates. When establishing the figures to enter, remember that the interest rates on the new credit will be based on current used vehicle rates.

Allowance should be made in the total required for applicable lender fees and charges. Contact the current lender for a payout figure for the amount required. Businesses can allow for balloon or residual where relevant.
  • Car refinancing calculator to assist decision making.
  • Get rough estimates based on our used car rates and lending products.
  • Take the first step to a loan that better suits your current situation.
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Types of Car Refinancing with Jade Finance

Changing an existing vehicle credit contract to a new arrangement may sound like a major undertaking. As specialists in motor vehicle funding, we are experts in making even the most complex lending tasks such as setting up new lending arrangements, easy and streamlined for our customers. We do all the work to allow you to simply review and consider the options presented.

 

The new arrangements can be with the same bank or lender or a different lender. The lending product can be changed also. As with new vehicle funding, we provide the complete selection of lending products for privately owned vehicles and vehicles owned and operated by a commercial entity. Secured and unsecured options are available as for used vehicles. Vehicles being funded under a new arrangement are considered as used.

 

Consider these options or speak with one of our brokers for a more detailed explanation.

  • Private Car Loan Refinancing.
  • Secured Car Refinancing and Unsecured Personal Loans.
  • Business Vehicle Refinancing – Lease, Chattel Mortgage, CHP.
  • Individually sourced solutions to target specific objectives.
  • Car loan refinancing by specialists in vehicle lending.

Understand the Basics of Refinancing Your Car Loan

Replacing an existing vehicle funding arrangement is quite a straightforward process but requires serious consideration by our customers. Fully understanding what is involved, the benefits, the costs and the outcomes, can greatly assist in making the right decision. Our experts handle the arrangements and paperwork and explain each step in full. Start finding out what could be possible by contacting Jade.

  • The process involves replacing the current credit contract with a new arrangement.
  • Interest rates and lending product conditions are based on used vehicle rates even if the original purchase was for a new vehicle.
  • The new credit can be with the same or another bank or lender.
  • The new credit can be using the same lending product or a different lending product.
  • The lender approval process is based on the applicant’s current financials and credit score.
  • Fixed rates, fixed terms and fixed repayments are available.
  • The terms available will depend on lender guidelines.
  • Lenders will need to accept the vehicle as being in good condition to be suitable collateral for a secured lending product.
  • Lender fee charges for early exit and establishing new credit will apply.
  • Fees will be included in the new loan, where applicable, and will increase the credit total.
  • Refinancing a car loan for private and business vehicles.
  • Our brokers handle the entire car loan refinancing to find you a deal that works for you.

How to Know if Car Refinancing is Right for You

There is no set timing or specific scheduling for when vehicle owners should give thought to changing current vehicle lending arrangements. It will depend on personal or business circumstances, many of which can be unique and individual.

Guidelines to consider may include:-

  •         Are interest rates lower now than when you arranged the current credit?
  •         Is the repayment pressuring your monthly cash flow or household budget?
  •         Has your credit score or balance sheet improved significantly since taking out the current funding?
  •         Do you have a balloon or residual payment due?
  •         Has you repayment capacity changed since taking out the current funding?
  •         Would finalising the vehicle credit sooner benefit your situation?
  •         Would different credit conditions release other assets from lender security?

There are some typical scenarios that do motivate vehicle owners to contact us for workable options and the quotes for changing their motor vehicle funding. Speak with us to go through your scenario and possible options with refinancing a car loan.

  • Secured better rates on refinancing car loans.
  • Take advantage of improved credit score – if current lending is on a bad credit basis and over time credit score has improved, more workable conditions and rates may be achieved through car refinancing.
  • Cost-effectively pay out a balloon or residual
  • Restructure monthly payments to better suit current, changed financial circumstances. Increase payments to pay off the commitment earlier or reduce the monthly figure to better suit current income.
  • Finalise the entire debt earlier with a shorter term to free up capacity and improve business or personal balance sheet to take on other lending.

Using the Car Refinancing Loan Calculator to Estimate Potential Savings

Our refinancing calculator is an essential tool for anyone considering changing their current motor vehicle funding. Easy to use and a convenient way to get rough estimates. When establishing the figures to enter, remember that the interest rates on the new credit will be based on currently used vehicle rates.

 

Allowance should be made in the total required for applicable lender fees and charges. Contact the current lender for a payout figure for the amount required. Businesses can allow for balloon or residual where relevant.

  • Car refinancing calculator to assist decision making.
  • Get rough estimates based on our used car rates and lending products.
  • Take the first step to a loan that better suits your current situation.

Simple Step-by-Step Process for Refinancing Your Car with Jade Finance

We make it simple, straightforward and easy to discover your options, benefits, obtain quotes and approval to change motor vehicle funding!

  • Use our Car Refinancing Calculator for quick estimates.
  • Contact Jade Finance for a no obligation discussion on your individual circumstances.
  • Our experts detail the lending product options with you – Secured and Unsecured for privately-owned vehicles, Chattel Mortgage, Lease and Commercial Hire Purchase for businesses.
  • We obtain the payout figure from the current lender as the amount for the new loan plus fees and charges.
  • Provide us with your details for the application.
  • Our brokers source the lowest rates from the right lender with a quote for the new funding.
  • The new funding is sourced from across our 80+ lender base with the best rate obtained.
  • Interest rates are priced on current rates for used vehicles.
  • Quotes are provided on a no obligation basis.
  • Approval in 24 hours, based on the applicant’s current credit score and financials.
  • Where the new quote does not improve our customer’s position or does not meet their objectives, we would recommend not proceeding. But that decision is left to our customer.
  • If accepted, we proceed to process and finalise the application.
  • We liaise between the new and the current lender to settle the payout figure.
  • The new repayment schedule is established with direct debits from your preferred bank account.
  • You start realising the benefits you want from refinancing your car loan.
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* The comparison rate displayed is calculated for a loan of $30,000 over 5 years. The results from this calculator should be used as an indication only. Quoted repayments are based on advertised rates and do not include lender fees and charges. Results do not represent either quotes or pre-qualifications for a loan. The specific details of your loan will be provided to you in your loan contract. It is advised that you speak with us so that we can provide you with advice that is tailored to your situation.

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Car Refinancing FAQ's

  • No. When changing to new credit arrangements, borrowers can choose to stay with the same lender or change to another lender.

  • When finalising existing credit, any collateral attached to that credit would be released from security by the lender. When establishing the new credit, it will be up to lender criteria if additional collateral is required. If required, other assets can be provided.

  • Yes. A new credit arrangement with a shorter term may be sought to allow for the vehicle to be paid off sooner.

  • Where a quote to change to new vehicle funding does not improve a person’s current situation, they are not obligated to proceed. It is their choice.

  • Changing to a new credit contract may attract lender fees for finalising the existing contract early and lender fees to establish the new credit.

  • Yes. When a lease residual is due to be paid, owners can apply for funding to cover the payout.

  • The credit term on new funding is subject to lender guidelines and approval.

  • Yes. A balloon payment is always available with Chattel Mortgage and CHP.

  • When changing to a new vehicle credit arrangement, applicants are assessed based on their current credit score.

  • There is no scheduled timing for when vehicle owners should consider a change to their vehicle credit arrangements. The best timing is when the current arrangements no longer suit their circumstances or when they may realise additional benefits or savings by switching.

  • Yes. When seeking to change vehicle funding, businesses can change from a Lease to Chattel Mortgage or other options. They do not have to stay with the same lending product.

  • When seeking to change business vehicle funding, operators can select the product – Lease, Commercial Hire Purchase, Chattel Mortgage, that best suits their set-up.

  • Whether a new credit arrangement will attract a lower interest rate than the current one will depend on a number of factors. Current rates compared with rates at the time of the original credit. The new credit will be based on used vehicle rates. If the credit score has improved over time. The type of lending product.

  • Reasons to seek a different vehicle funding arrangement can vary. In general terms, if the current arrangement is not meeting current circumstances or if savings may be realised with lower interest rates now available, it may be time to get a quote for new funding.

  • All types of lending products – personal and business, may be eligible for refinancing.