A California car loan refinance is a way to change the rate at which you pay the interest or payments on your car loan. If you purchased a car in California between 2004 and 2006 for a dealer with a loan from a bank or the dealer and your rate was higher than 6.50%, you paid too much. Through programs that are offered at places like UCU (University Credit Union Los Angeles) you get a second chance to lower the interest rate by converting the current loan to a low rate interest. The car has to be a new model 2004 2006 from a California dealership.

UCU does not require an appraisal, so applying for a refinance loan is quite simple. You need to give them a copy of the original purchase contract and your current lender and account information to pay off the loan. They, in turn, will fund your new loan. You can sign up for payroll deduction, and have payments automatically sent to UCU.

With most companies like UCU, a new car older than 2004 or a used car purchased from a dealer or private party can be refinanced depending on the year of the car and its value. Usually, you can find California car loan refinancing companies online and fill out an online application.

Other California auto finance companies to check out locally and nationwide include HSBC Auto Low Rate Car Loans, Capital One Auto Finance, E-LOAN (fast approval and personal service), Citifinancial Auto, 24HourAutoLoan.com (online applications), Automotive.com (work with bad credit car refinancing) and CarCredit.com (bankruptcy not a problem).