Looking to refinancing your car loan?

Refinancing your car loan can help reduce your loan repayments to help increase your cash flow or help with a new finance application.


By reducing your car loan repayments you may be eligible to borrow more money when it comes to buying a house or applying for a loan. 

Naked Loans can help take the stress out of refinancing with our low rates, low fees, and easy online application.

Naked Loans identify not only the best rates but most importantly, the best overall package deals available in the market on a daily basis, saving you time and money.


We help you compare your options, so you can be confident you’ve get the right loan for you. One that could save you big time over the life of the loan.

We’ve helped thousands of Aussies just like you get finance

Refinance Car Loans

What is refinancing?

Refinancing is the process of replacing an existing loan with a new one. When it comes to home loans, it means your existing home loan is paid off and replaced with a new one. This is different from a second mortgage, where you draw on the equity you have built up in your home.

How else can refinancing help me in addition to saving money?

Not only can it save you money it can also help you

  • Reduce your monthly expenses

  • Reduce monthly fees and charges

  • Choose a loan term that suits your current needs

  • Alter the final balloon or residual payment (if applicable)

  • Trade in your old car for a new one

Weighing up the costs

There can be costs associated with refinancing and it’s important to factor these into your decision-making. For example, there may be a break or exit fees.

For a new car loan, you may have to pay an establishment fee and the ongoing administration fees could be higher than you’re currently paying. 

A broker can help

Refinancing can be a serious financial decision with a number of variables to consider. A good broker can help establish the type of loan that may work best for you, how much you can borrow and any extra features you want. They can then gather information from many different lenders and help assess the costs and benefits associated with each loan.

As well as doing the legwork for you, they can guide you through the refinancing process and apply their knowledge and understanding of car loans to help you achieve the best outcome if you decide to go ahead.

Car Insurance – Are you fully protected?

You must take out compulsory third party (CTP) insurance before you are allowed to take your car on the road. If you borrow money and a lender takes security over the loan they will usually require you to pay for comprehensive insurance. This insurance covers damage to your own car and other people’s property if your car is in an accident (including fire), as well as covering you if the car is stolen.

Gap insurance 

(also called motor equity insurance or shortfall insurance) covers the lender for the difference between what you owe on the car loan, and what the car is insured for under comprehensive car insurance if you write your car off.


We have built a panel of Australia’s leading and reputable lenders and insurers to make sure you get the best deal possible.