Paying 11%
on a 2023 loan?
Don't.
Auto-loan rates have dropped 200 basis points since early 2024. Most borrowers with 12+ months left on their loan can shave 1.5–3% — and never restart the clock.
Three steps. Same look as a fresh loan.
Share the bank, sanction letter, and remaining tenure. We compute the foreclosure clause and any pre-payment fee.
Same 14-bank panel as new buyers. The car's existing valuation determines max LTV.
Carfin moves the money. Hypothecation transfer is sorted in 7 working days. EMI starts the next cycle.
When refinance doesn't save you money.
Less than 12 months left
Processing fees + foreclosure charges eat the savings. Pay it off the old-fashioned way.
NBFC foreclosure cap
If you're on Bajaj or Mahindra, foreclosure is often 2–4%. Run the numbers — we do this in the calculator.
Your CIBIL fell since the first loan
New rate offers depend on current score. We'll tell you upfront if the new rate isn't actually better.