Is now a good time to refinance your auto loan? Most people require financing when buying new cars. Over time, as interest rates and they money owed changes, refinancing might become a viable option. Refinancing an auto loan can reduce the amount of money you owe over the term of your financing agreement. Or, you can refinance an auto loan to reduce your monthly payments, which can put more disposable income back in your pockets. The following questions are among the most commonly asked by those who are looking to refinance their auto loans. Three of the best firms for refinancing are Up2drive, MyAutoLoan, and RateGenius. However, you can also refinance auto loans through traditional banks and financing companies. Read on to compare these top-rated options.