What Credit Score Do You Need to Refinance a Car?

Understanding Credit Requirements and How to Boost Your Approval Odds

When considering whether to refinance your auto loan, one of the first questions that comes to mind is: What credit score do I need to refinance a car? While there’s no single cutoff, your credit score plays a big role in determining both your eligibility and the interest rate you’ll be offered. In this article, we’ll walk through how credit impacts the refinancing process, what lenders typically look for, and practical ways you can improve your score before applying.

How Credit Scores Affect Auto Loan Refinancing

Credit scores—ranging from 300 to 850—are a snapshot of your financial trustworthiness. Most auto refinance lenders consider scores of 660 or higher to be “prime,” giving you a better chance of approval and access to competitive rates. However, many lenders, including those we partner with at Digital Auto Refi Co, work with borrowers in the 600–659 range (non-prime) and even lower in some cases. The better your credit, the lower your risk to lenders—which translates into lower interest rates, smaller monthly payments, and overall cost savings.

For example, a borrower with a 750+ credit score may qualify for a 5% rate, while someone at 580 could be looking at double that. Even a 1–2 point change in your interest rate can mean hundreds—or even thousands—of dollars saved over the life of your loan. That’s why understanding where your credit stands before you apply is crucial.

What Lenders Look For Beyond Your Score

While your credit score is a primary factor, it’s not the only piece of the puzzle. Lenders also evaluate your debt-to-income ratio (DTI), loan-to-value ratio (LTV), payment history, and employment stability. If you’ve consistently made on-time payments for your current car loan and have a steady income, lenders may be more forgiving of a less-than-perfect credit score.

Additionally, refinancing is often easier if your vehicle still holds solid value and you don’t owe significantly more than it’s worth. If your credit has improved since you originally financed the car—or if you’ve paid down a decent portion of the balance—you could qualify for much better terms now. Every small improvement counts.

Tips to Improve Your Credit Before Refinancing

If your score is below 660, it’s still worth preparing before applying. Here are a few ways to boost your score quickly:

• Pay all your bills on time—payment history is 35% of your FICO score.

• Pay down revolving debt, especially credit card balances.

• Avoid applying for other loans or credit cards in the 30 days before your application.

• Check your credit report for errors via AnnualCreditReport.com and dispute any inaccuracies.

• Ask for a credit line increase on current cards without a hard inquiry—this can improve your credit utilization ratio.

Even a 30–60 point boost can open the door to better refinancing terms. Give yourself a few weeks to make these improvements if possible.

Refinancing with Digital Auto Refi Co

At Digital Auto Refi Co, we work with a network of lending partners who offer options for a wide range of credit profiles—from near-perfect to rebuilding. Our average customer locks in a rate around 5.49%, and we've been saving drivers over $130/month on average. We help guide you through the refinancing process from start to finish, including checking your eligibility without impacting your credit score upfront.

Best of all, we offer digital tools to refinance from anywhere, and we make the experience fast, secure, and transparent. If your credit isn’t perfect yet, our team will still help you explore your options and even recommend the right time to apply. Plus, you can take advantage of add-ons like GAP coverage or bi-weekly payment setups to protect your investment and save even more long-term.

To see your potential savings and start your application, visit www.digitalautorefi.com today.

No pressure—just smarter auto refinancing, made easy.