How do I refinance my car UK?

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?


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


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.


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.

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Song Bird
Song Bird
Could not recommend Happy Motor Finance enough. Kirsty has been so helpful throughout, searching for cars and contacting dealerships on my behalf. She has gone above and beyond and made what could have been a stressful experience a walk in the park. Would definitely use again. Highly recommend
Jordan Little
Jordan Little
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Tricky Mooney
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Lucy Holden
Brilliant service from star to finish super fast on the forms and got my dream car ❤️
Debbie King
Debbie King
Excellent company highly recommend. Always available to help, brilliant communication and always kept informed of how the process was going. Swift, helpful and kind. Can’t wait to collect my new car. Thank you.
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Nicola Redgrave
Fab from start to finish! Thank you so much! Can't wait to pick my car up! ❤️
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Matthew Moxham
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Easy and very helpful in finding the right car for me
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Happy Motor Finance Limited is registered in England and Wales under company number: 14387669. Registered office address: Clippers House, Clippers Quay, Salford, England, M50 3XP

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 number of carefully selected credit providers who may be able to offer you finance for your purchase. (Written Quotation available upon request). Whichever lender we introduce you to, we will typically receive commission from them (either a fixed fee or a fixed percentage of the amount you borrow) this will not affect the rate you are offered or the amount you will pay back. The lenders we work with could pay commission at different rates. 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