In theory, you can refinance your car loan shortly after you take it out. However, attempting to do so will mean you have multiple enquiries on your credit file in quick succession, which may make it more difficult to get approved. When refinancing, it’s worth determining when the most beneficial time to switch your loan may be to maximise your savings or increase your level of comfort in managing your repayments. For instance, refinancing in the last six to 12 months may not be worth the effort if you have to pay exit fees and only achieve a small saving.