Auto Refinancing in Wisconsin (August 2025)
Refinance your Auto loan Fast and Easy with Way.com!
Save up to $1850 per Year
APR as low as 5.74%
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Reduce your monthly payments with Wisconsin auto refinancing
Stakes are high even if you ignore the car expenses. Your auto loan payments can effortlessly be the cherry on top in this case. If you want to get rid of a bad car loan and improve your credit, Wisconsin auto refinancing can help in:
- Reducing your Annual Percentage Rate (APRs)
- Lowering your monthly car loan payments
- Adding or removing co-signers or co-borrowers to your loan
- Taking a payment vacation or defer your payment
- Changing your loan term
- Buying out your car lease at the end of the term
- Getting bi-weekly payments and hardship plans
Auto Refinance in Wisconsin - Unlock savings on your auto loan
Refinancing is great because it gives you options. Since there are so many refinance lenders, you don't have to take the first deal you get.
- By refinancing a car loan in Wisconsin, borrowers could save money on their interest rate and overall APR.
- Your old loan's remaining balance will be paid off by your new lender. You will no longer have to make payments on that loan.
- Your new loan will have payments that are easier to manage, and depending on the interest rate, you could save $100 or more each year.
A refinance aggregator like Way.com can help you shop around with multiple lenders, compare rates, and choose the offer that fits you best.
Why should you refinance your Wisconsin auto loan?
If you financed your car purchase with a bank or a dealership, you might have taken a ridiculously generous loan. That being said, it's possible that your regular payments are too much. Or maybe you were told this was your only choice, or that you couldn't get a better interest rate anywhere else because of your credit score.
Refinancing your Wisconsin auto loan can have the following benefits:
- Lower APRs: Reducing your interest rate by just 1-2% can save hundreds yearly.
- Reduced monthly payment: Save between $80 and $150 every month for more crucial expenses such as your home, student loans, and personal loans.
- Change co-borrower/co-signer : It's difficult to return a loan on your own; acquire a parent, sibling, or spouse as a co-borrower in order to repay the amount promptly.
- Cash-out refinancing: With cash-out refinancing, you can use your car as collateral if you need cash for an emergency.
- Other benefits: Adding Guaranteed Asset Protection (GAP), Extended Warranty, and you can choose to buy out your lease at the end of the term.
How much can you save through auto refinance in Wisconsin?
Wisconsin auto loan refinancing companies may be able to lower interest rates by 1% to 2% on average. One can save as much as $1,850 annually if their credit rating is high.
However, there are many factors to consider when refinancing a car loan, so your actual savings may vary, like:
- Credit score
- Loan amount
- Loan term remaining
- Age of vehicle
Your estimated monthly loan payment is
$684.10/mo
Monthly savings
$55.90
Difference in interest
$2683.20
When should you refinance your Wisconsin auto loan?
Wondering what's the right time to refinance? Don't rush to a lender until you meet some of these criteria:
- Have at least 6-12 months passed since the start of your current loan?
- Has your credit score increased above what it was at the start?
- Do you want to reduce your monthly payments and save money on your auto loan?
- Do you want to get rid of certain terms/clauses in the auto loan?
- Do you want to add/remove a co-signer or co-borrower to your loan?
What documents do you need to refinance your auto loan?
When shopping around for the best auto refinance rates in Wisconsin, it's helpful to have all of the official loan papers in hand. This will not only speed up the process, but it will also help you zero in on the ideal annual percentage rate.
Here's what you need:
Personal Financial Information
- Driver's License
- Credit score: Ideally, a credit score above 700 gets the best rates.
- Social Security Number
- Proof of Income: Pay stubs, bank statements, or tax returns can be considered as income proof.
- Proof of Residence: Mortgage statements, auto insurance policies, utility bills, or property tax bills can serve as proof of residence.
Current Loan Information
- 14-day payoff amount : The rest of the loan amount, including the principal and interest for the next 14 days, can be given to you by your lender.
- Car Loan-to-value ratio : The LTV will tell you if you are “upside-down” on your car loan (i.e., owe more than the car is worth). If so, it will be harder to refinance.
- Loan term remaining : You should ideally have more than a year left on your debt.
- Prepayment penalty : If you pay off your loan early, some lenders will charge you a fee of up to 2% of the loan balance as prepayment penalty.
Vehicle Information
- Make and Model
- Year (Age)
- Title
- Vehicle Identification Number (VIN)
- Proof of Car Insurance
Auto refinance in Wisconsin: Eligibility requirements
Your car will be eligible for auto refinance in Wisconsin if it meets the following broad criteria.
- The car is less than 10 years old (varies depending on the lender)
- The car has a mileage of less than 150,000 (varies depending on the lender)
- You have a verifiable income source
- You have a valid driving license
- You have a valid registration
- You have full coverage insurance
- You have a consistent payment history on your current loan
The criteria may vary depending on the lender. Ensure you consult with them before deciding to refinance.
Average auto refinance rates in Wisconsin
| LOAN TERM | Excellent
Credit Score (750-850) |
Good
Credit Score (700-749) |
Fair
Credit Score (640-699) |
Poor
Credit Score (639 or less) |
|---|---|---|---|---|
| 36 months | 3.12% | 4.19% | 4.90% | 7.36% |
| 48 months | 3.28% | 4.74% | 6.54% | 9.64% |
| 60 months | 3.33% | 4.63% | 6.32% | 9.31% |
| 72 months | 3.66% | 4.51% | 6.42% | 9.43% |
*The rates given above are averages: actual rates may vary based on credit scores, risk profile, payment history, loan balance, and more. Borrowers with excellent credit may get even lower rates than shown. These rates are current as of September, 2022.
How to refinance your Wisconsin auto loan with Way.com
Step 1: Consider taking an account of your savings
Use our online auto refinance calculator to find out if you can save money by refinancing. If at all possible, your new estimated payment should be less than what you pay now.
Step 2: Get multiple pre-qualified offers
Ask around, get pre-approved, and compare rates from different lenders before deciding which one is best for you.
Step 3: Select an offer and start saving
Once you decide on an offer, you need to formally apply by sending in the necessary documents. Be ready for the lender to have a hard credit inquiry on your credit.
How to refinance without hurting your credit
Your credit score will temporarily decline if you refinance your car. However, you can refinance efficiently without hurting your credit in the following ways:
- Rate shop within a certain window: Multiple inquiries for the same reason will only be counted as one inquiry by credit risk companies. For example, VantageScore only gives you 14 days, while FICO gives you 45.
- Pre-qualify for offers using a soft credit pull: Luckily, soft inquiries don't do much on your credit score. It can help you find the best few offers and keep you from getting hit with multiple credit hits.
- Check your credit score regularly: If you get your credit score of 700 or more, the credit drop will be a lot smaller.
Why our Wisconsin auto loan refinance program is great for you
At Way.com, we understand that financing and maintaining a vehicle in Wisconsin can be challenging. You need all the help you can get to keep up with escalating gas prices, insurance premiums, and monthly loan payments.
That is why Way.com is making car ownership more accessible around the country. Our AI-enabled fintech platform allows you to:
- Find and connect to the best refinance lenders
- Compare the best offers and choose the best
- Refinance lease buyouts
- Get access to additional perks such as insurance, warranty extension, etc.
- Refinance even with bad credit
... and much more!
What is Way.com?
Way.com is the country's leading car services marketplace and #1 auto super app, making car ownership affordable to millions of Americans. You can save more than $1500/year through our combined auto services like:
- Auto insurance and refinance
- Airport parking and city parking
- Car wash services
- Roadside assistance and Cashback on gas
Way.com has a 4.5 rating on Trustpilot, with more than 3 million satisfied customers. The Way app also has a 4.7 rating on Google Play and 4.9 on the iOS app store.
Auto Refinance Data Methodology
The auto refinance rates published here are based on the results of comparative research done by Way.com’s data team. We've used a mix of public and internal data to analyze refinance rates across thousands of lenders, credit scores, vehicle types, and all U.S. ZIP codes
The rates shown here are based on a national average of our findings, and may typically vary for each individual depending on your personal financial position and the US state you are in.
However, you can quickly determine where you stand by going through our Auto Refinance form. In just a few steps, find out how much you can save with way.com!
Auto Refinance in Wisconsin: Frequently Asked Questions
What are the rules to refinance a car?
Refinancing an auto loan appears to have no minimal qualification requirements. However, no one will give you more money if you have a history of missing payments, so be sure that doesn't happen with this loan. There is little possibility of finding a bank willing to refinance a loan if the borrower is overdue on EMI payments to their current lender.
In most cases, a lender's decision to grant refinanced credit is contingent on the results of an inspection of the vehicle. Your vehicle's age and mileage will be considered.
Your credit score is a reflection of how responsible you are with money. Your credit score is a major factor in determining the outcome of any loan application, including an application to refinance a car loan. To refinance a loan, your credit score should be higher than it was when you first got the loan.
Where is the best place, I can refinance my car in Wisconsin?
We can assume that Autopay is the best auto refinance rates in Wisconsin. The company provides flexible auto loan refinancing with a variety of alternatives for all customers and an average monthly savings of around $100.
Which auto refinancing company provides cheapest auto refinance rates in Wisconsin?
The cheapest auto refinance rates can save you money and Auto Approve in Wisconsin is your best bet if you are keen on low-interest rates. Auto Approve focuses on refinancing and buying out leases, so doesn't offer to finance buying a new car.
Auto Approve has one of the best auto refinance rates, with an APR that starts at 2.25%. You can use a refinance aggregator like Way.com to compare rates if you have some other priorities that needs to be tallied with cheapest auto refinance rates.
Can you refinance your car loan into someone else’s name?
You can't simply "transfer" a car loan from one individual to another. When you get a car loan, you're promising to pay it off so that you can keep the car at some point in the future. Until then, the loan money you used to buy the car is your obligation. Because of this, you can't pass the buck to another person.
However, alternative options exist, such as refinancing or selling the vehicle, that may help alleviate the financial strain of making the hefty monthly payments on the auto loan. If you want to avoid the high costs of maintaining a debt, you can use these strategies to pay it off early.
Do you find Auto refinance complex? Here is the ultimate Auto Refinance FAQ Guide with answers to all your questions!