Can I refinance a car that I still owe money on?

Yes, it is possible to refinance a car that you still owe money on, but the process can be more complicated than refinancing a car that you own outright. When you refinance a car loan that still has a balance, the new lender will typically pay off the remaining balance on your existing loan and set up a new loan for the remaining amount at a different interest rate and/or term. However, keep in mind that the new loan amount cannot exceed the current value of the car.