Overview
No, Upstart does not currently offer cash-out auto refinancing. You may refinance your auto loan to lower your monthly payment or reduce the overall cost of your loan, but you cannot borrow additional funds beyond your existing loan balance.
What Is Cash-Out Auto Refinancing?
Cash-out auto refinancing allows borrowers to refinance their car loan for a higher amount than what they currently owe and receive the difference in cash. While some lenders offer this option, Upstart’s auto refinancing program does not include cash-out refinancing.
What Are My Alternatives If I Need Extra Cash?
If you need additional funds, you may want to explore other loan options that better suit your financial needs:
✔ Personal Loans – If you need funds for expenses such as home improvements, medical bills, or debt consolidation, a personal loan may be a better option.
✔ Relief Loans – If you’re facing an unexpected financial situation, a relief loan could provide quick access to smaller loan amounts.
✔ Auto-Secured Personal Loans – Some lenders offer personal loans that allow you to use your vehicle as collateral while still maintaining ownership.
💡 Tip: If you're considering a personal loan, you can check your rate through Upstart’s platform with no impact on your credit score.*
*When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.
What Should I Do Next?
- If your goal is to lower your monthly auto loan payment, you may still qualify for a standard auto refinance loan through Upstart.
- If you need additional funds, you can explore personal loan options to see if they meet your needs.
📌 Related Articles:
- Auto Refinancing: How It Works
- Vehicle and Loan Eligibility for Auto Refinancing
- How to Check Your Rate for a Personal Loan