How do I refinance my car UK?

how do i refinance my car Blog

Check Your Eligibility in 60 Seconds

Car refinancing is the process of paying off an existing car loan with a new loan, usually with a different lender, in order to obtain a lower interest rate, lower monthly payments, or both. This can be a good option for individuals who have improved their credit score or who have experienced a change in their financial situation since taking out their original car loan.


“Car refinancing is the process of paying off an existing car loan with a new loan, usually with a different lender, in order to obtain a lower interest rate, lower monthly payments, or both”


What is the refinance process?

When you refinance your car loan, you will go through a similar process as when you applied for your original loan. This includes submitting an application, providing financial information, and going through a credit check. The new lender will use this information to determine your eligibility for the refinance and the terms of the loan, such as the interest rate and monthly payments.

When shouldn’t I refinance my car?

It’s also important to compare the potential savings from refinancing with the cost of the refinancing. It may only be worth refinancing if the savings over the life of the loan outweigh the costs of refinancing. A specialist refinance broker like ourselves can help you with this calculation.

How do I refinance my car in 3 simple steps?

STEP 1

It all starts with an application. Use our fast online application form to check your eligibility to access refinance.

STEP 2

We will get in touch with you using the details given on the application form and together we can review the options that you have available based on your personal circumstances.

STEP 3

We provide you with the best quote that we can find from our panel of lenders and the decision is down to you. There is no obligation to use our financial services but should you want to go ahead, then we will complete all of the paperwork necessary.

In summary, car refinance is a way to get a new loan to pay off an existing car loan, with the goal of lower interest rate, lower monthly payments, or both. It can be a great way to reduce your monthly outgoings or consolidate balloon payments.

Check Your Eligibility in 60 Seconds

Screenshot 2025 03 08 204342

How Does Import Car Finance Work in the UK?

Struggling to afford a car in today’s cost-of-living crisis? You’re not alone. With prices soaring, more UK drivers are turning to a clever money-saving trick: buying an imported vehicle. But…
Some of our trusted partners
Oodle - Car Finance Loan Lender
Marsh Car Finance - Motor Finance Broker
Advantage Finance - Car Finance Broker Partner
Lendable Car Finance - Motor Finance
Close Finance - Motor Finance Partners
First Response Car Finance Broker Partner
Company Name & Contact Details
Happy Motor Finance
Pennington House
16 Carolina Way
Salford Quays
Salford
M50 2ZY
0161 524 0582
Happy Motor Finance Limited is registered in England and Wales under company number: 14387669. Registered office address: Pennington House, 16 Carolina Way, Salford Quays, Salford, M50 2ZY

Happy Motor Finance Limited (FRN - 989250) is authorised and regulated by the Financial Conduct Authority. We act as a credit broker not a lender. We work with a specific panel of lenders to try to obtain you an approval. We receive a commission for introducing you to parties with whom we work with if you proceed with an acceptance. This commission is a fixed payment or fixed percentage of the amount you finance, but can vary by partner. This does not impact the rate you are provided. You will be provided full information before completing your finance agreement and you can request further information at any time. We do not charge a fee for our services. All finance is subject to status and income. Terms and conditions apply. Applicants must be 18 years or over. We are only able to offer finance products from these providers.

Happy Motor Finance Limited are registered with the Information Commissioners Office under registration number: ZB408604

VAT Number: 456 0212 21
Specialist Automotive Finance Approved
Discuss Motor Finance via WhatsApp