Same car, better deal.

Refinance your car loan to get a lower interest rate and lower payment. There's no obligation.

or

1. Create an account and apply online.

Confirm your VIN and provide some details about the vehicle you're looking to refinance. We may ask for pictures of your vehicle.

2. Speak to a refinancing specialist and review your documents.

Sign online without ever leaving home. Once your rate and pre-approval have been secured, your Finance Manager will send you documents via DocuSign to review and sign.

3. Get a new loan with a lower rate and lower monthly payments.

Reduce your payments with decreased interest rates. Plus, you can postpone Payments for 6 Months. Sign online and keep driving for less with Carrefinancing.ca.

"Refinancing my car removed the pressure of inflation by reducing my payment. It's provided a new kind of freedom."

- Kelsey S. from Vancouver, BC

Refinance My Car

Top 10 Questions about Car Refinancing 🤔

  • What is car refinancing?

    Car refinancing is the process of replacing an existing car loan with a new one, often to secure better interest rates, lower monthly payments, or change the loan terms.

  • Why would I consider refinancing my car?

    Common reasons include obtaining a lower interest rate, reducing monthly payments, changing the loan term, or consolidating debt.

  • When is the right time to refinance my car?

    It's typically a good idea to consider refinancing when interest rates have decreased, your credit score has improved, or your financial situation has changed for the better.

  • How much can I save by refinancing my car?

    The amount you can save depends on factors like the new interest rate, loan term, and your current financial situation. Use online calculators or consult with lenders to estimate potential savings.

  • Are there any fees associated with car refinancing?

    Yes, there may be fees such as loan origination fees, prepayment penalties, or title transfer fees. It's essential to consider these costs when evaluating the overall benefit of refinancing.

  • How long does the car refinancing process take?

    The refinancing process can take anywhere from a day to a week, depending on the lender and the required documentation.

  • Can I refinance a car that is underwater (I owe more than it's worth)?

    Some lenders may allow refinancing an underwater car loan, but it might be challenging. You may need to bring additional funds to the table or explore other options.

  • Do I need to go through the same lender for refinancing?

    No, you can choose a different lender for refinancing. Shopping around and comparing offers from multiple lenders can help you find the best terms.

  • Does refinancing affect my credit score?

    The act of applying for a refinanced loan may result in a temporary dip in your credit score due to the hard inquiry. However, if you make timely payments on the new loan, it can positively impact your credit over time.

  • Can I refinance my car more than once?

    Yes, you can refinance your car more than once if it makes financial sense. However, be mindful of any fees and ensure that the benefits outweigh the costs.

  • What lender offers refinancing in Canada?

    CarRefinancing.ca specializes in providing refinancing options exclusively through two trusted lenders, CIBC and AutoCapital. Both lenders are known for their fantastic reputations, offering competitive rates, flexible terms, and exceptional customer service. Whether you're looking to lower your monthly payments or secure a better interest rate, CarRefinancing.ca connects you with these reputable partners to help you save money and improve your financial flexibility.

Dive into the financial data for Canada.

$4,154

This is the average amount of credit card debt that each Canadian carries according to TransUnion.

$29,312

Canadians carry $29,312 in non-mortgage debt on average, according to TransUnion, which includes credit cards, lines of credit and installment loans.

169.4%

The household debt-to-income ratio now stands at 169.4, up 23 percent from a decade ago, and on par with what the US saw at the peak of its housing bubble. 

40 Years

Don’t forget, a credit card balance of as ‘little’ as $6,000 can take more than 40 years to pay off if only the minimum payments are made.

"The power you gain from unleashing yourself from high interest rates is priceless. It is never too late."

- David P. from Toronto, ON

Refinance My Car

Refinancing a car in Canada is easy. 💪

Welcome to CarRefinancing.ca: Refinance My Car Online! Discover a smarter financial approach as we help you reduce your payments with decreased interest rates. And that's not all – enjoy the flexibility of postponing payments for 6 months. Your journey to financial freedom starts here.


It's better to refinance your current vehicle than to purchase a new one, especially if you have negative equity. Let our experts help you reduce your payments and decrease the stress on you financially. Going into more debt with a new vehicle isn't always the best solution and that's why we created a simple online way for Canadians to refinance their existing car to keep them driving.