While some companies offer refinancing as a way for customers to lower their interest rates or monthly payments, Credit Acceptance does not currently provide auto refinancing.

Although you can’t refinance through Credit Acceptance, your payment history can help you qualify for better options the next time around. Here’s how:

1. Building credit with on-time payments

Credit Acceptance submits your payment activity to all three major credit bureaus: Equifax, TransUnion, and Experian. So, when you make on-time payments on time every month, it strengthens your credit profile. Over time, this can make you a more appealing candidate for future auto financing.

2. Demonstrating financial responsibility

Your commitment to your existing Credit Acceptance financing doesn’t go unnoticed. A history of consistent payments signals to us — and the 15,000+ dealerships in our nationwide network — that you’re a reliable borrower. Proving reliability can boost your odds of being approved for more favorable terms should you choose to finance a different vehicle in the future.

3. Applying for vehicle financing again

If your needs change and you're ready to upgrade your car, you can reapply for financing through a dealer in Credit Acceptance’s network — even if you’re still paying off the amount you previously borrowed. Many of our customers with a positive payment history find themselves in a much stronger position when applying for a second time, because we have a unique view into your payment history with us which other financing companies may not see.

Would you like to avoid refinancing in the future?

Since Credit Acceptance doesn’t offer refinancing, it’s wise to set yourself up for long-term success from the start. Here are some ways to make sure your auto financing is manageable throughout its term:

• Borrow within your budget. Choose a monthly payment that fits your current income and expenses as a way to avoid financial stress.

• Opt for a shorter finance term. Doing so will ensure you pay off the borrowed amount faster and reduce the total interest you’ll pay.

• Make a larger down payment, if possible. This will reduce your overall borrowed amount, which may lower your monthly payments and interest.

• Be accurate and thorough when applying. Provide clear and honest financial information to ensure you receive terms that match your ability to pay.

• Work on improving your credit before applying. Even small improvements in your credit score could lead to better rates. Start by looking for errors in your credit report.

• Build a financial cushion. Set aside money for emergencies to help you stay on track with payments, even if unexpected expenses arise.

• Understand the financing terms. Know the full cost, including fees and interest, as it can prevent surprises and let you plan accordingly. Don’t be afraid to ask questions or conduct research on your own.

We want to be your resource for vehicle financing

If you’re in good standing with us and want to upgrade your vehicle (possibly with even better rates than what you have now), you can start the pre-qualification process online today or simply visit a dealer near you.