Can you get a high mileage auto loan?

An occupied car is a different thing these days. While 100,000 miles was a far-reaching benchmark, technological improvements and reliability mean more cars are built over 200 km. This is good news if you are looking for a vehicle with high mileage.

There are always risks for such a purchase, for example, not all sellers will offer reliable models, but the online lender allows its customers to buy with confidence. We work with trusted car dealers who can show pre-approved credit customers selected high-quality models that meet our age, mileage and financing standards. This includes used cars, trucks, and SUVs that are nine years of age or older and can travel up to 110,000 miles.

Here are some things you should know about auto loans and high mileage vehicles as the car buying process gets closer.

3 things to know about financing a high mileage car

Think about how long you want to keep the car – if you only want to drive it for a few years, you may not want a long loan.

Avoid a car and a loan that could “knock it over” – a vehicle that is likely to lose value more quickly than the loan pays off to the point where it is worth less than the remaining balance can cause problems if you sell it. Shorter loan terms and a good down payment help prevent this.

You can have shorter credit on cards if you have bad credit: borrowers who want to buy a vehicle with high mileage due to bad credit may be offered a shorter term to offset the credit risk associated with their credit rating. If all else is equal, shorter loans come with higher monthly payments, but that means less interest will be paid over the life of the loan and the car will pay faster.

Can I refinance a vehicle with high mileage?

After purchasing a high mileage vehicle, you may want to refinance to receive new loan terms. Your credit may have improved since you applied for the loan, or market interest rates may have dropped. Although and its parent company Santander Consumer USA cannot refinance existing customers if their contract has been signed with another lender, the vehicle is seven years old or more and has up to 105,000 miles, you can apply today. As with applying for a car loan, it is a quick and easy process. If approved, you can save with a lower monthly payment, a lower interest rate, or even a cash refund.

Make sure you’ve been approved

Buying a high-mileage car can raise doubts. Can I get a financing permit so that I don’t have to pay cash? Can I get affordable payment? And can I find a good vehicle? At, we have years of experience helping customers travel in the right cars with the right financing for their needs. So if you want to finance a reliable used vehicle, please fill out our secure online application to make a decision immediately.

Get Quote