Georgia Auto Refinancing

Learn about refinancing your car in Georgia including how to qualify, the steps you need to take to complete the refinance process, aligning financial goals, and Georgia refi FAQs.*

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Automotive Refinancing in Georgia

Are you attempting to refinance your vehicle in your state? You have indeed found the right page! We work with vehicle loan companies all around the nation including in your state and can help you find a motor vehicle loan refinancing deal near you. Submit your information to see if you qualify for automotive loan refinancing pre-approval with our partner lenders below.

We’re proud to deal with car, truck, and SUV owners who call Georgia home and focus on offering refi info for secondhand and brand-new car or truck owners all over the state. Whether you stay in Atlanta, in proximity to Augusta, close to Savannah, or in another place in Georgia, consult our lending partners to see if refinancing your motor vehicle will accommodate your monetary circumstance.

Find Auto Refinancing in Atlanta, Georgia

The Georgia Auto Refi Process

The automobile refinancing procedure in your state can be fairly uncomplicated. To learn more, you merely need to find a couple of things. Explore the refinance step-by-step checklist shown below. You also need to satisfy a number of criteria for both your car or truck and yourself prior to completing your newly refinanced car or truck loan.

Vehicle Refinancing Qualification

Your car in Georgia needs to qualify for the refinancing lending financial institution’s terms. These terms can differ by lending institution and generally involve vehicles which are physically stored in Georgia, were made within the last 10 years old with clean titles, have lower than 100k mileage, and have a good loan-to-value (LTV) ratio. Check with specific lending institutions servicing Georgia for additional information.

Personal Refi Qualification

Along with your motor vehicle qualification, you also have to qualify for refinancing by supplying personal information and details when refinancing in your state. Lenders need to know your home address in Georgia, where you work, how much money you make, your credit history, info about other personal debt you may have, and other associated details. They record this info for things like finalizing a threat evaluation regarding how likely you are to pay back the refinanced auto loan.

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Georgia Auto Loan Refinance Calculator

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Credit Rating Qualification

Your credit rating plays a part in your capability to refinance your vehicle. Your score is a pointed measurement of your potential to pay back your debt. It is a number which can range as low as 300 to as high as 850. A good rating is commonly considered over 650ish. You can also have industry-specific credit ratings which are distinct from your regular credit rating.

The specific credit score you need to have for an auto loan varies by lender. They take into consideration many things when identifying your loan suitability consisting of both the industry-specific rating, basic rating, resources, liabilities, earnings, and other information. To get the most desirable car or truck loan interest rate, you might want to keep your credit rating as high as possible and possibly choose a co-borrower.

Lenders may require a credit score of 700 or higher if you are looking for a loan on a new vehicle. If you are financing or refinancing a previously owned or used automobile, a credit rating of over 600 might be enough.

About Credit Score Brackets in Georgia

Credit RatingPoints
Excellent780 to 850
Very Good720 to 779
Good680 to 719
Average580 to 679
Poor300 to 579
Credit rating brackets and point ranges come from various credit reporting sources including Experian, TransUnion and Equifax, but are not endorsed or certified by them.

Credit ranting numbers like the ones shown above can be lender specific. However, Experian also provides information on overall financing and origination trends as part of their quarterly State of the Automotive Finance Market presentation. The following categories were presented for the 2021 Q3 automotive credit vertical and lending channels. 

Credit Score CategoryPoint Range
Super Prime781 to 850
Prime661 to 780
Nonprime601 to 660
Subprime501 to 600
Deep Subprime300 to 500
These credit rating categories and point ranges come from the Experian State of the Automotive Finance Market, but are not endorsed or certified by them.

About Credit History

Credit history is a very large subject. There is far too much info to talk about here, but we can cover some of the concepts. Your credit history is a record of your liabilities and financial obligations along with determining your ability to repay them. Lenders check with credit bureaus to measure the risk of lending you cash. The lower your credit score, the higher the financial hazard to financial institutions.

Equifax, Experian, and TransUnion are the three important credit reporting bureaus. These bureaus record and track your credit details. While the credit-related information is relatively the same, your credit rating might be different by bureau. Lenders run inquiries called pulls through these bureaus against your history if you apply for a loan.

Hard credit inquiries and soft credit inquiries are the two types of credit checks. Soft pulls do not affect your credit score. They are done during initial loan application phases like pre-qualification. Hard pulls do affect your credit rating. These pulls are performed later in the loan application process during the loan approval and finalization. This means you are actively looking for a brand-new line of credit and, therefore, the hard inquiry will affect your credit score. Check out some of our other credit related resources to find out more.

Automobile Refinance Steps in Georgia

There are several specific things you can do to start the automobile refinance process in Georgia. You can most likely refinance your car loan by owning a car, truck, SUV, or other qualifying motor vehicle in Georgia, having a loan on that automobile, meeting loan provider requirements, and supplying your loan and individual information. While these general concepts are the basics, there may be extra steps as well. Check out the additional things listed below:

  1. Own a car or truck in Georgia.
  2. Have an auto loan on your car
  3. Meet qualifying vehicle-related requirements like a recent year of manufacture and good car market value
  4. Meet individual certifying requirements which include your credit report and salary
  5. Apply for vehicle refinancing with a different lending institution in Georgia
  6. Once approved, they can help you get a different loan that includes a different interest rate and repayment term
  7. Complete the automobile refi procedure for the new lender to take over your old loan
  8. Make monthly payments to your new car loan financial institution
  9. Your refinanced auto loan is complete!

Top-Selling Vehicles in Georgia

Ford F-Series F-150 best selling truck in Georgia

Did you know the best selling motor vehicles in Georgia are Ford F-Series trucks? These popular Ford trucks are the top-selling and most financed. Do you have a Ford F-Series yourself? Do you also have a truck loan on it? Are you pleased with your monthly truck payments and APR? Discover Ford auto refinancing options in Georgia.

First Time Car Buyer Financing In Georgia

Is it your first time buying a vehicle in your state? You may have funded your brand-new automobile through the dealer, financial services division, bank, or local credit union. Make the most of any special financing offerings when you buy the vehicle. Car dealerships will sometimes offer incentives to new car buyers like 0% interest financing opportunities, 0-down car loans, cashback incentives, and team member rates.

Later after you have had the car or truck for a while, you may be able to save money by refinancing your motor vehicle and save money or pay your auto loan off faster by adjusting the payment term and APR or interest rate. This depends on your budgetary objectives and refinance options provided by loan providers.

If your plan is to save money each month, lowering the rate of interest can sometimes save you money on your regular monthly payments. On the other hand if your goal is to work towards being free of debt, reducing your loan repayment term can increase your payments in the short term however allow you to pay off your debt and the loan much faster.

Georgia Auto Refinancing Rates and Trends

It’s never been a more suitable time to refinance your car, truck, SUV, or other motor vehicle while living in Georgia. Historical value patterns can make it possible for you to capitalize on increased equity in your motor vehicle and might result in preferable auto loan terms and APR or interest rates. Use our auto refinance calculator to see forecasted cost savings between your present car or truck payment and approximated replacement refinanced payment values.

About Auto Refinancing Pre-Approval in Georgia

Auto refinancing pre-approval helps you discover and see potential refi rates more efficiently. The pre-approval process indicates lenders might have completed steps like reviewing your credit report and info, figuring out loan viability, and knowing who you are. A soft credit check is often performed before you receive pre-approval status. As we learned earlier, soft inquiries do not affect your credit history.

Ready To Start The Refinance Process?

Start by thinking about your refinance goals, consider what you want to change about your auto loan, and connect with lenders.

About Loan Repayment Assistance

There are few opportunities offered for auto loan repayment support in Georgia. If you are having difficulty settling your automobile loan or making payments consider the following choices:

  • Refinance the loan on your vehicle with the intention of saving money in mind
  • Sell your present car or truck and look for a more economical motor vehicle with a budget-friendly monthly payment

Georgia Car Refinancing and Financial Goals

Everyone generally has particular financial goals for refinancing their vehicle. Your financial goals are often specific to your financial planning, retirement, or taking care of your family. They can involve saving for crucial things, pre-qualing to buy a home, and becoming debt free.

  • Is your month-to-month vehicle payment or APR or interest rate expensive?
  • Does it feel like you have high-interest debt holding you back?
  • Do you intend to be free of debt and repay your car earlier than the stated loan term?
  • Would saving more money help you meet your expenses?
  • Are vehicle estimates increasing in Georgia resulting in more auto equity?

If you answered yes to any of the above questions or think that you need to better align your financial objectives, consider finding out more about refinancing your car and connecting with any of our refinance partners to find out more. You may have the ability to save money. Use resources like our car refinance calculator, learn about the benefits of car refinancing, and potentially start saving $100s through reductions on your monthly car payments.

Find Georgia Serving Lenders for Refinancing**

Refinance your vehicle with our Georgia serving partner lenders. Learn how you can save money on your car payments.

Find Car Insurance as a Georgia Driver

Learn about insurance coverage options as a Georgia driver and vehicle owner. Bundling insurance may save money.

Statue in Downtown Atlanta, Georgia

Love Your Car Like You Love Georgia

Do you love where you live? If you love your state, ask yourself the following question. Do you love your vehicle loan as much as where you live? Are you content with your loan’s monthly vehicle payments and rate of interest or APR? If you are disappointed with any of the above car loan factors, there may be things you can do. Learn about options from refinance firms if you responded yes to any of these things.

Learn About Refinancing

State Driver and Vehicle Statistics

Have you ever wondered how many individuals reside in Georgia or how many licensed vehicle drivers there are on the roads in the state? The U.S. Census Bureau provides insight for these data points and other comparable driving stats. We can use the reported census numbers to discover answers. This information comes from Census Bureau Data for 2019-2020, however it is not endorsed or certified by the Census Bureau. For instance, there were 7,261,266 licensed drivers in the state of Georgia. There were also 3,499,520 cars registered. Using the 10,617,423 population, we can calculate per capita ratios like 683.90 vehicle drivers and 329.60 registered vehicles per capita (1,000 people). In total, there are 2.07 registered drivers per car.

Georgia by The Numbers

Estimated Population: 10,617,423Registered Automobiles: 3,499,520
Automobiles Per Capita: 329.60Licensed Drivers: 7,261,266
Drivers Per Capita: 683.90Drivers Per Automobile: 2.07
Data comes from Census Bureau Data for 2019-2020, but is not endorsed or certified by the Census Bureau.
Auto Refinancing Near Atlanta, Georgia

Georgia Automobile Refinancing FAQs

Looking for information about auto refinancing in Georgia? Discover answers to frequently asked questions! It is crucial to do your research and understand how deciding to refinance your vehicle impacts your life and finances. These questions can help you begin to understand how you can refinance your truck, SUV, or car in Georgia.

Can I refinance my car in Georgia?

Yes, you can refinance your automobile in Georgia if you coordinate with a lender who services your area.

Will refinancing my automobile in Georgia help to save me money?

Possibly. The amount of money you might save while refinancing your automobile in Georgia is dependent on many elements like having the ability to be approved for lower interest rates and terms, your credit report, outstanding debts, car details, where you live in Georgia and other details.

Is auto refinancing pre-approval guaranteed if I have an excellent credit score, clean credit report, and live in Georgia?

No, nothing is ensured when refinancing in Georgia even if you have good credit. You need to send your individual details such as your address, employer, and income in Georgia for refinancing pre-approval and check loan alternatives with specific lending institutions.

What are ideal goals to have when refinancing my car?

Your car refinancing goals mainly depend on your scenario. Refinancing can be situationally motivated and consist of wanting to change your car loan details.

How do I find out if refinancing my auto in Georgia will benefit me?

You typically need to begin the automobile refinancing process to see associated refinancing rates in Georgia. Up until then, you can use tools like our automobile refinance calculator to approximate financial benefits or revised vehicle loan payment rates. Go to Auto Loan Refinance Calculator

Why are motor vehicle payments in Georgia so costly?

Car loan providers and financial institutions calculate car payments based on a variety of variables including your credit history, liquid assets, outstanding liabilities, automobile location, and estimated financial risk. Your physical location or residence address can also be taken into account. As an example, you may be offered various refinance offers depending if you are residing in the city of Augusta versus Atlanta or Savannah.

What do I need to look for a car loan in Georgia?

To apply for an automobile loan in Georgia, you do not need to be a member of any specific bank, cooperative credit union, or other provider. You can easily create the application. Keep in mind you will need to qualify to finish the vehicle loan application process.

What credit rating do I need to refinance my car loan in Georgia?

You can oftentimes refinance your vehicle loan if you have a credit score of 680 or higher. You might be able to find vehicle loan refinance options with a credit score in the low 600s or even 500s depending on your loan-to-value ratio. Increasing the equity you have in your vehicle can improve refinancing opportunities.

How do I refinance my vehicle loan in Georgia?

You can refinance your car loan by owning a truck, car, SUV, or other qualifying automobile in Georgia, having a loan on that motor vehicle, meeting lending institution requirements, and providing your loan and personal information. Refinancing your suv, truck, or car can be a good method to reduce your auto loan APR or interest rate and the amount of money you pay towards monthly payments.

To finish the refinance process in Georgia, you will have to have state-issued identification like your valid driver’s license, an income confirmation record, vehicle documents and pictures showing mileage and VIN number, and your present vehicle loan information. You’ll have to supply these things to the credit union in the course of the loan application process.

The bank or lending institution you select will examine your personal and motor vehicle details, examine your credit report, and let you know about the offered new loan deals. You might get approved for a lower interest rate. If you have any concerns, you can usually speak with your loan officer or business representative to see if you can lower your monthly car payment.

Ready To Start The Refinance Process?

Start by connecting with lenders in Georgia.**