Auto Loan Refinancing
Lower your monthly payment, reduce interest, and keep more cash in your pocket. Apply NowRates as low as 5.74% APR*
Customize Your Auto Refinance with Bowater Credit Union
Bring your current auto loan to Bowater Credit Union and see how much you could save. Our auto loan refinancing options are designed to help you lower your payments, reduce interest, or pay off your car faster – your choice.
✔
Competitive Rates
Some of the lowest refinance car loan rates in the region.
✔
Flexible Terms
Choose a repayment schedule that fits your budget and lifestyle.
✔
No Prepayment Penalties
Pay off your car loan early with zero fees.
✔
Streamlined Process
Vehicle loan refinancing that’s quick, simple, and hassle-free.
Everything to Know About Our Auto Loan Refinancing
Is your current car loan costing more than it should? High rates, long terms, or a loan from a dealership can leave you paying hundreds, or even thousands, more than necessary.
Bowater Credit Union can help you refinance your auto loan to make ownership more affordable.
With our auto loan refinancing, you may be able to:
- Lower your monthly payment and free up cash
- Reduce interest costs over the life of your loan
- Pay off your car sooner with a better rate or shorter term
Additional benefits include:
- Up to 100% refinancing — finance your car’s full value with no down payment
- No surprises or hidden charges
- Easy online application with quick decisions
- Local, dedicated support whenever you need it
Ready to refinance your auto loan and save? Apply below.
Refinance Your Auto Loan in Three Easy Steps
Become a Member
Meet our eligibility requirements and open a Share Savings Account with just a $5 deposit.
Start an Application
Talk with a loan officer about lowering your current interest rate or monthly payment.
Refinance Your Car!
Drive away with a refinanced auto loan tailored to your goals.
★★★★★
“Best bank around! Excellent customer service! They will
help you with whatever it is you are looking for and it’s
super easy no matter what you do.”
– Amanda D., Athens, TN
Why Choose Bowater CU?
Since 1954, Bowater Credit Union has proudly served southeastern Tennessee with affordable financial solutions and friendly, local service. As a not-for-profit cooperative, we return value directly to our members through competitive loan rates, low fees, and the kind of personalized attention you won’t find at a large institution.
Let Bowater CU help you refinance your car loan with low rates, flexible terms, and a simple process designed to save you money over the life of your loan.
FAQ About Vehicle Loan Refinancing
Q: What is auto loan refinancing?
A: Auto refinancing replaces your existing auto loan with a new one, often offering a lower interest rate or more favorable terms. Your new loan pays off the old one, and you continue payments under the new loan.
Q: How can refinancing my car save money?
A: You may secure a lower rate, reducing interest paid over time. Some members also choose a shorter term to save even more in the long run.
Q: How long does the refinancing process take?
A: Most refinance car loan applications receive a decision within a few business days.
Q: How can I make payments on my refinanced loan?
A: Use our digital banking tools to make quick online payments, or visit any branch for in-person service.
Q: Are there any fees involved?
A: There’s no fee to apply for auto loan refinancing with Bowater CU. Some third-party costs, like state transfer or registration fees, may apply.
Q: Do I need to be a member to refinance my auto loan?
A: Yes. Membership is required to refinance your auto loan with Bowater CU. You can join if you live, work, worship, or attend school in Bradley, McMinn, Meigs, Monroe, or Polk counties. Immediate family members of current members and employees of our Partner Companies are also eligible. You can also become a member through the Bowater Good Fellows, a local non-profit organization, and your contribution is covered when you join.
Explore Other Loan Options
RV Loans
Widen your horizons with a new or used RV. Make your escape with zero-down loan financing and terms up to 180 months.
Boat Loans
Spend more time on the water with family and friends. Get a boat of your own with low rates and up to 100% financing.
Personal Loans
Access the funds you need for personal expenses or unexpected costs with our flexible personal loans.
The rate shown is the lowest available rate. Your rate may be higher depending on your credit score. Approval is not based on credit score.