Buying your first car can be a rewarding experience. However, in that flood of excitement and nervousness, most people are in a haste to close the deal. They end up signing up for an auto loan that has a steep annual percentage rate. When you pay a higher interest on your car loan, you are either losing out on the money that could have been used to pay the bills or that could have easily gone towards your savings. Therefore, you want to be extra careful while you are getting a refinance loan.

To get the lowest rate, you might want to look at the below auto finance lenders to choose from.

1. USAA
With the United Services Automobile Association (USAA), users can get a refinance loan for up to 84 months at interest rates as little as 3.39%. These rates are applicable on 2018 or later car models. People who wish to buy 2017 or older car models can get refinance loans for a tenure not exceeding 72 months and at rates from 4.10% onwards. To qualify for these loans, a user must be a member of the USAA, which means they either should have served in the military or be a family member of someone who has.

Sometimes, loan approvals can be on the spot and the user can get an approval in just five minutes. The user must e-sign the necessary documents in the USAA account, print the loan check on the spot, or just remit the payoff amount to the dealer over the phone. There is no application fee, and the borrower does not have to pay anything on the new loan for up to 60 days.

2. Autopay
Autopay provides a marketplace to various credit unions and financial institutions that offer loans at interest rates that are based on the credit profile of the user. Borrowers who wish to maintain a traditional loan can get help from Autopay to find good interest rates from a lender who fits their needs. Autopay also provides cash-back refinance facilities with which the borrower can get up to $12,000 in cash, which they can utilize to clear out all their debts. If the car has been taken on lease and you wish to keep the car at the end of the lease, there are lease payoff options offered. This allows the user to pay their lease early, preventing them from paying an expensive mileage fee.

3. CarsDirect
With the help of CarsDirect, individuals with bad credit can find lenders who can provide refinancing for their vehicles. The users can get the process started by completing an application form that is available online. This form will provide CardDirect with all the basic information that they need about the borrower. This information consists of the user’s employment status, gross monthly income, and housing payment.