DENVER--(BUSINESS WIRE)--Oct 26, 2026--
Drivers spent the summer paying more at the pump and headed into fall facing higher interest rates, but car refinancing remained a source of savings for owners looking to reduce car costs. According to Caribou's Q3 2026 Auto Refinance Trends Report, customers who refinanced to lower their monthly payments saved an average of $165 a month, up from $162 in Q2.* Customers lowered their APR by an average of 3.89 percentage points.
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The report, based on Caribou customers who refinanced between July and September 2026 to lower their monthly payments, reveals several notable trends across borrowers:
This quarter also highlighted how refinancing opportunities can persist even as the broader Treasury market and interest rates change. While the Federal Reserve's September rate decision drew attention to the direction of borrowing costs, individual auto loan rates depend on a range of factors, including credit history, loan balance and loan term.
“Our latest report shows that a wide range of borrowers continue to find meaningful savings through car refinancing, even as broader interest rates shift,” said Simon Goodall, CEO of Caribou. “The loan someone qualified for when they bought their car may no longer be their best option. Borrowers who have improved their credit or reduced their debt could qualify for more favorable terms today, without having to wait for market conditions to change.”
Drivers can estimate their potential savings with Caribou's auto refinance calculator. Full findings from Caribou's Q3 2026 Auto Refinance Trends Report are available at caribou.com/auto-refinance-trends-report.
About Caribou
Caribou is a leading auto refinance marketplace that helps drivers find a better loan for the car they already own. Caribou's AI-powered platform searches thousands of rates across its expansive network of lenders in seconds to find personalized options that align with each driver's financial goals. Caribou makes the entire car refinancing process fast, easy, and transparent, with expert support available whenever drivers need it. The company is backed by QED Investors, Goldman Sachs, and other leading investors. Learn more at www.caribou.com.
* Caribou's Q3 2026 Auto Refinance Trends Report is based on consumers whose auto refinance loan funded through Caribou between July 1, 2026, and September 30, 2026, who had an existing auto loan on their credit report and selected a loan offer to reduce their monthly payment. Savings may result from a lower interest rate, a longer loan term, or both, and are not guaranteed.
Caribou's Q3 2026 Auto Refinance Trends Report shows Millennial car owners continue to save the most on their monthly car payments when refinancing while Gen Z drivers achieve the steepest APR reductions.
Regional and world leaders congratulated Brazilian President Luiz Inácio Lula da Silva after he defeated challenger Flávio Bolsonaro to win an unprecedented fourth term.
Latin America’s left-leaning leaders were especially quick to react, but conservative presidents across the region also acknowledged Lula's victory and emphasized the need for their countries to cooperate with Brazil on issues like fighting organized crime and reducing deforestation in the Amazon basin.
By early Monday afternoon, the government of Argentina’s libertarian President Javier Milei was the only one in South America that had not publicly acknowledged the result.
Lula remains a revered figure on the region’s left, having governed Brazil from 2003 to 2010, when leftist leaders held power across much of Latin America. Over the past two years, however, Lula's influence in South America has diminished, as most of Brazil's neighbors elected right-wing governments aligned with the Trump administration.
Since returning to office in 2023, Lula has been a vocal critic of U.S. President Donald Trump.
Long live democracy, the people of Brazil won. Congratulations, President Lula!
Dear brother Lula, on behalf of the Cuban government and people, I congratulate you for this historic victory that ensures the continuity of the path of peace, sovereignty and social justice embarked upon by the Brazilian people under your leadership. Brazil can count on Cuba in the construction of the unity and integration of our Great Homeland, Latin America and the Caribbean.
Congratulations (...) to you, comrade President Lula, who in your seventh presidential election knew how to awaken your compatriots' passions and their reason to win this battle.
President Lula and I have big, profound political and ideological differences, but we agree on something fundamental: Brazil and Colombia mutually need each other. We have a lot to do for the benefit of our people. Mutual respect, sovereignty and cooperation should define our relationship as well as the fight against narcoterrorism, illegal mining, the protection of the Amazon and the welfare of our people.
Chile and Brazil have a lot of shared future ahead, and we will continue working on an agenda that strengthens relations between our countries in economic integration and the fight against organized crime in the region.
Congratulations to Lula on this victory. Our region has common enemies, shared challenges and much to gain when we work together.
As we approach the bicentennial of our diplomatic relations, I reaffirm our willingness to strengthen our strategic alliance, integration, cooperation and the sustainable development of the Amazon that we share, for the benefit of both our peoples.
Bolivia and Brazil are neighboring and sister countries, united by a shared history and common challenges. We will continue working together to strengthen our relationship and generate more opportunities for our nations.
Congratulations Lula for your election as Brazil's president. I salute the Brazilian people for this great democratic day. Paraguay and Brazil share a common agenda of integration and development. We will continue to work together for the benefit of our people.
Congratulations to the Brazilian people for exercising their right to vote, and for electing their new president in a democratic and peaceful process. I wish the greatest prosperity to the 212 million brothers and sisters who live in the largest country in Latin America.
China (...) expresses its congratulations. We are ready to work with Brazil to continue advancing the building of a China-Brazil community with a shared future.
A great victory for Lula! What has happened in Brazil will happen in Spain. The comeback of global progressivism has just begun.
Lula has stood up for Brazilian workers & democracy — and will continue to do so in the next four years.
For us in Ukraine, it is important that Brazil remains active in international affairs and continues to contribute to the effective protection of human rights, the rights of peoples, and the rights of states. We thank Brazil for its unwavering support for Ukraine’s sovereignty and territorial integrity. We look forward to expanding our cooperation.
President Luiz Inacio Lula da Silva celebrates with his running mate Geraldo Alckmin after winning a fourth term in the presidential runoff in , Brazil, Sunday, Oct. 25, 2026.(AP Photo/Andre Penner)
