Iowa Auto Refinancing

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

Have an auto loan on your Car, Truck, or SUV?

Check refinancing options and see if you can pre qualify with lenders. You may be able to save money on your auto loan.

Home » Auto Refinance States » Iowa Auto Refinancing

The products and offers that appear on the website are from respective partners, companies, and third-party advertisers from which we receive compensation. This compensation may impact how and where products appear on this site including the order in which they appear. This site does not include all financial products or companies or all available product offers. Learn more about our partners and how we make money.

Vehicle Refinancing in Iowa

Are you trying to refinance your car, truck, or SUV in your state? We work with motor vehicle lenders all around the nation including in your state and can help you discover an automobile refinance deal near you.

We’re happy to deal with SUV, truck, and car owners who call Iowa home and concentrate on providing refinance info for new and used car or truck owners all over the state. Whether you stay in Des Moines, around Davenport, close to Cedar Rapids, or somewhere else in Iowa, check with our lending partners to see if refinancing your motor vehicle will accommodate your personal financial situation.

Find Auto Refinancing for Farm Vehicles in Iowa

The Iowa Auto Refi Process

The automobile refinancing process in your state can be rather straightforward. You also have to fulfill specific qualifying criteria for both your automobile and yourself before you can complete your newly refinanced car loan.

Automobile Refinance Qualification

Your car in Iowa has to be approved for the refinancing lending financial institution’s terms. These terms can differ by lending institution and usually involve vehicles which are physically stored in Iowa, are newer than 10 years old with clean titles, have less than 100k mileage, and have a good loan-to-value (LTV) ratio. Get in touch with specific lending institutions servicing Iowa for more information.

Personal Refi Qualification

Along with your motor vehicle qualification, you also have to qualify for refinancing by providing personal info and details when refinancing in your state. Lenders have to have your address in Iowa, where you work, what amount of money you make, your credit history, information about other financial debt you might have, and other relevant details. They use this info for things like completing an opportunity analysis regarding how prone you are to return the refinanced automobile loan.

Calculation Disclaimer

Iowa Auto Loan Refinance Calculator

Find an Auto Refi Lender in Iowa**

Advertiser Disclosure
LenderNameInterest Rate*Credit Score*Apply

Caribou Auto Refinance Logo

Caribou - See Review

2.83%650 & UpApply Now

Auto Approve Auto Refinance Lender Logo

Auto Approve - See Review

2.25%580 & UpApply Now

RefiJet Auto Refinance Lender Logo

RefiJet - See Review2.49%500 & UpApply Now

RateGenius Auto Refinance Lender Logo

RateGenius - See Review2.99%500 & UpApply Now

AUTOPAY Auto Refinance Lender Logo

AUTOPAY - See Review2.99%560 & UpApply Now

Credit Report Qualification

Your credit score plays a part in your capacity to refinance your car. Your rating is a pointed measurement of your potential to repay your outstanding debt. It is a number which can vary as low as 300 to as high as 850. A really good credit rating is typically thought to be over 650ish. You can similarly have industry-specific credit ratings which are unique from your overall credit report.

The particular credit rating you need to have for an auto loan varies by loan provider. They consider numerous things when identifying your loan viability including both the industry-specific score, regular rating, assets, debt, income, and other details. To get the most favorable auto loan interest rate, you may wish to keep your credit report as high as possible and potentially take advantage of a co-borrower.

Here are some credit score examples you can use to generally get an idea based on your automobile ownership circumstance. For example, lending institutions might need a credit score of 700 or greater if you are trying to find a loan on a new car. If you are financing or refinancing a previously owned or secondhand automobile, a credit score of over 600 may suffice. Talking with loan providers or beginning the application process are ways to directly see if your rating qualifies.

About Credit Score Brackets in Iowa

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 cover here, but we can cover a few of the fundamental ideas. Your credit history is a record of your liabilities and financial debts together with measuring your potential to repay them. Lenders check with credit bureaus to measure the prospect of loaning you money. The lower your credit rating, the greater the default threat to creditors.

The three main credit reporting bureaus are TransUnion, Experian, and Equifax. These bureaus record and track your credit information. While the credit-related info is comparatively the same, your credit score may differ by bureau. When you apply for loans including automobile financing or refinancing, Lenders run inquiries called pulls against your history.

The two types of checks are called hard credit pulls and soft credit pulls. Soft pulls help to determine your initial viability. This report pulls your credit information to see your history. Soft pulls do not impact your credit rating. Hard pulls are executed in the final stages of the financing process. This implies you are actively looking for a new line of credit and will affect your credit rating. Take a look at a few of our other credit related resources for more information.

Vehicle Refi Steps in Iowa

There are several specific steps you can follow to start the vehicle refinance process in Iowa. You can usually refinance your vehicle loan by owning a car, truck, SUV, or other qualifying vehicle in Iowa, having a loan on that motor vehicle, matching lender requirements, and furnishing your loan and individual details. While these general concepts are the basics of what is needed for refinancing, there may be additional steps you encounter before you can complete the refi process. Check out the additional info listed below:

  1. Own a car in Iowa.
  2. Have an automobile loan on your automobile
  3. Meet suitable vehicle-related requirements like a current production year and good automobile valuation
  4. Meet individual certifying criteria such as your credit score and earnings
  5. Request auto refinancing with a new lending institution in Iowa
  6. When your application is accepted, they can help you find a new loan that includes an updated annual percentage rate (APR) and payment term
  7. Finish the vehicle refi process for the different loan provider to take over your old loan
  8. Make agreed payments to your updated auto loan lender
  9. Well done, you completed the auto loan refinancing process!

Top-Selling Vehicles in Iowa

Chevrolet Silverado 2500HD best selling truck in Iowa

Did you know the best selling motor vehicles in Iowa are Chevrolet Silverado trucks? These popular Chevrolet trucks are the top-selling and most financed. Do you have a Chevrolet Silverado yourself? Do you also have a truck loan on it? Are you okay with your monthly truck payments and interest rate? Learn more about Chevrolet auto refinancing opportunities in Iowa.

First Time Car Buyer Financing In Iowa

Is it your very first time purchasing a car or truck in your state? That is exciting news! You may have paid for your brand-new SUV, truck, or car through the car dealership, financial services division, bank, or regional lending institution. Make sure you are maximizing any financing offerings at the time of purchase. These vary by the car dealer and can include 0% APR car loans, zero-down financing incentives, cashback benefits, employee discounts, and more.

In the future once you have had the car or truck for a while, you may be able to save money by refinancing your vehicle and start saving money or pay your car loan off quicker by adjusting the payment term and APR or interest rate. This depends upon your budgetary goals and refinance choices provided by lending institutions.

Decreasing the interest rate can potentially save you money on your month-to-month payments if your objective is to start saving money each month. On the other hand if your objective is to work towards consolidating debt, shortening your loan repayment term can increase your payments in the near term however make it possible for you to pay off the loan more quickly.

Iowa Auto Refinancing Rates and Trends

It’s never been a better time to refinance your car, truck, SUV, or other vehicle while living in Iowa. Historic vehicle price trends can allow you to enjoy increased equity in your motor vehicle and can lead to better vehicle loan terms and APR and interest rates. Use our automobile refinance calculator to see forecasted cost savings and differences between your existing car or truck payment and approximated replacement refinanced payment equivalents.

About Auto Refinancing Pre-Approval in Iowa

Automobile refinancing pre-approval lets you discover and see possible refi rates much faster. The pre-approval process suggests loan providers may have carried out actions like assessing your credit report and information, figuring out loan viability, and knowing who you are. A soft credit pull is often performed before you receive pre-approval status. As we learned earlier, soft credit checks do not influence your credit rating.

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 methods offered for vehicle loan payment assistance in Iowa. If you are having trouble settling your vehicle loan or making monthly payments consider the following choices:

  • Refinance the loan on your car with the intention of saving money in mind
  • Sell your existing car or truck and find a more affordable car or truck with an economical monthly payment

Iowa Car Refinancing and Financial Goals

Everyone generally has particular financial goals for refinancing their car. Your financial goals are usually related to planning for the future, retirement, and taking care of your children and family. They can take into account saving money for important things, qualifying to buy a house, and paying off debt.

  • Is your regular monthly car payment or interest rate too expensive?
  • Does it feel like you have high-interest financial obligations holding you back?
  • Do you wish to be debt free and repay your vehicle faster?
  • Would saving more money help you meet your expenses?
  • Are motor vehicle prices going up in Iowa resulting in more auto equity?

If you responded yes to any of the above thoughts or believe that you want to better align your personal financial objectives, consider learning more about refinancing your vehicle and connecting with any of our refi partners to learn more. You may manage to save money. Use resources like our auto refinance calculator, learn about the benefits of vehicle refinancing, and potentially save $100s through reductions on your monthly payments.

Find Iowa Serving Lenders for Refinancing**

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

Find Car Insurance as a Iowa Driver

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

Iowa Local Government Court House

Love Your Car Like You Love Iowa

Many people love where they live. You know this to be true if you are a fan of your state. But ask yourself the following things. Do you enjoy the car or truck you drive? If you have an auto loan in your state, are you disappointed with your auto payments and rate of interest or APR? Is your vehicle insurance plan coverage not properly taking care of your car, truck, or SUV? If you answered yes to any of these things, there might be things you can do and state serving refinance providers you can work with.

Learn About Refinancing

State Census Driver and Motor Vehicle Info

Do you ever ask yourself how many people reside in Iowa or the number of licensed vehicle drivers there are on the roads in the state? The U.S. Census Bureau provides insight around these metrics and other corresponding motor vehicle stats. We can use the reported census numbers to discover answers. This information is tracked by Census Bureau Data for 2019-2020, however it is not endorsed or accredited by the Census Bureau. For example, there were 2,274,431 licensed drivers in the state of Iowa. There were also 1,221,843 automobiles registered. Using the 3,155,070 population, we can work out per capita ratios like 720.88 drivers and 387.26 registered motor vehicles per capita (1,000 people). Overall, there are 1.86 registered vehicle drivers per automobile.

Iowa by The Numbers

Estimated Population: 3,155,070Registered Automobiles: 1,221,843
Automobiles Per Capita: 387.26Licensed Drivers: 2,274,431
Drivers Per Capita: 720.88Drivers Per Automobile: 1.86
Data comes from Census Bureau Data for 2019-2020, but is not endorsed or certified by the Census Bureau.
Auto Refinancing Near Des Moines, Iowa

Iowa Auto Refinancing FAQs

Have concerns about auto refinancing in Iowa? Discover answers to frequently asked questions! It is important to know what you are getting into and be aware of how deciding to refinance a vehicle changes your financial situation. These FAQs can help you understand how you can refinance your truck, car, or SUV in Iowa.

Can I refinance my car in Iowa?

Yes, you can refinance your car, SUV, or truck in Iowa if you coordinate with a lender who services your state.

Will refinancing my car or truck in Iowa help to save me money?

Perhaps. The amount you may save while refinancing your vehicle in Iowa is dependent on lots of factors like being able to qualify for a lower rate of interest and terms, your credit score, outstanding liabilities, motor vehicle details, where you live in Iowa and other details.

Is auto refinancing pre-approval certain if I have a good credit score, clean credit report, and reside in Iowa?

No, nothing is guaranteed when refinancing in Iowa even if you have good credit. You need to send your personal details including your address in Iowa for refinancing pre-approval and check loan choices with specific lenders.

What are the best objectives to have when refinancing my car?

Your vehicle refinancing goals primarily depend on your scenario. Refinancing your car can be situationally inspired and consist of wanting to adjust your vehicle loan details.

How do I understand if refinancing my car in Iowa will help me?

You normally want to apply through the car refinancing process to see comparable refinancing rates in Iowa. Until then, you can use tools like our auto refinance calculator to estimate discounts or adjusted vehicle loan payment rates. Go to Auto Loan Refinance Calculator

Why are vehicle payments in Iowa so pricey?

Car loan companies and financial institutions calculate vehicle payments based on a number of variables including your credit rating, liquid assets, outstanding liabilities, motor vehicle area of use, and expected lending risk. Your physical location or address can also be taken into account. As an example, you may be offered a range of finance deals depending if you are dwelling in the city of Davenport versus Des Moines or Cedar Rapids.

What is required to look for a vehicle loan in Iowa?

To secure a car loan in Iowa, you don’t need to be a member of any particular bank, cooperative credit union, or other provider. You can easily create the application. Remember you will need to qualify to finish the auto loan application process.

What credit score do I need to refinance my motor vehicle loan in Iowa?

If you have a credit rating of 680 or higher, you can often refinance your automobile loan. Your ability to refinance depends upon the loan provider and your vehicle. You may have the ability to find car loan refinance opportunities with a credit score in the low 600s and even 500s depending on your loan-to-value ratio. Having greater equity built up in your motor vehicle can make this possible.

How do I refinance my car loan in Iowa?

You can refinance your car loan by owning a truck, car, SUV, or other qualifying automobile in Iowa, having a loan on that motor vehicle, meeting loan provider requirements, and producing your loan and personal information. Refinancing your car, suv, or truck can be a good way to lower your car loan APR or interest rate and the amount of money you pay towards regular monthly payments.

To complete the refinance process in Iowa, you will need state-issued documents like your valid driver’s license, an earnings verification document, vehicle documents and pictures showing mileage and VIN number, and your present vehicle loan information. You’ll be required to provide these things to the bank while in the loan application process.

The bank or lending institution you pick will evaluate your individual and automobile info, inspect your credit report, and let you know about the available new loan deals. You might get approved for a lower rate of interest. If you have any concerns, you can normally speak with your loan officer or company rep to see if you can decrease your month-to-month vehicle payment.

Ready To Start The Refinance Process?

Start by connecting with lenders in Iowa.**