Should You Refinance a 2022 Subaru Forester Premium in 2026?

You bought a 2022 Subaru Forester Premium sometime in late 2021 or early 2022, probably when rates were still climbing out of the pandemic lows but inventory was tight. Now it's mid-2026 and you're wondering if refinancing makes sense. The short answer: if your current rate is above 7.5 percent, yes. If it's below 6.5 percent, probably not. Everything in between depends on how much you still owe and how long you plan to keep the car.

The setup

We're assuming you financed around $28,000 after trade and down payment when you bought this Forester new. The Premium trim was going for roughly $31,000 to $32,000 MSRP back then, and most buyers put down at least $3,000 to $5,000. You took a 60-month loan at 8.2 percent because you had good credit but not great credit, or because the market was just worse in 2022 when the Fed was hiking aggressively.

You've been making payments for about 48 months. Your car now has around 52,000 miles on it. You owe roughly $8,400 on the original loan. Your current payment is about $575 a month and you have 12 payments left.

The Forester itself is running fine. It's a Subaru, so you're expecting it to hit 150,000 miles without drama. Private party value right now is around $19,500 to $21,000 depending on condition and local market. Used car values have been drifting down slightly month over month in 2026, but nothing catastrophic. Subarus hold value better than most.

The math

Let's walk through what refinancing that $8,400 balance looks like today.

If you refinance at 6.8 percent for 24 months (a common refi term when you're this close to payoff), here's what happens:

The first thing you notice: stretching the loan back out to 24 months drops your monthly payment by $200, but you end up paying more total interest than just finishing your current loan. That's a bad trade unless you desperately need monthly cash flow.

The smarter move is the 12-month refi. Yes, your payment goes up by $150 a month, but you cut your remaining interest in half. You save about $220 over the next year. Not life-changing money, but it's a nice dinner out every month for doing 20 minutes of paperwork.

Now let's say your current rate is actually 9.5 percent because you financed when your credit was rougher or through a dealership that marked up the rate. Your remaining interest over 12 months is closer to $650. Refinancing at 6.8 percent for 12 months saves you nearly $370. Now we're talking.

Here's the critical part: most lenders won't refinance a loan under $10,000 or with fewer than 12 months of payments remaining. You're right at the edge. Some credit unions will do it. Navy Federal, PenFed, and a handful of regional credit unions still write small auto refi loans. Most big banks won't touch it. You'll need to shop around, and you might need to join a credit union to access their rates.

Closing costs on an auto refi are usually minimal, often $0 to $150 for title and lien processing. Some lenders roll it into the loan. At this loan size, keep closing costs under $100 or walk away.

One more scenario: what if you refinance for 24 months at 6.8 percent, take that $200 monthly savings, and invest it or use it to knock out higher-interest debt like a credit card at 22 percent? Now the math flips. Paying $600 in auto interest to save $1,200 in credit card interest is obvious. But if you're just going to spend the $200 on DoorDash, stick with the 12-month option or don't refinance at all.

What we recommend

Refinance if your current rate is 7.8 percent or higher and you can get approved at 6.8 percent or better for 12 months, assuming closing costs stay under $100.

What could change our mind

If your current rate is already 6.5 percent or lower, the juice isn't worth the squeeze. You'd save maybe $80 over a year, and any closing costs eat that immediately. Just finish the loan.

If you're planning to trade or sell the Forester in the next six months, don't bother refinancing. The savings won't materialize before you pay off the loan anyway, and you'll waste time on paperwork for $40 in interest savings. Check out our sell or keep guide if you're on the fence about trading up.

Bottom line

The 2022 Forester Premium is a keep-it-forever kind of car, and you're almost done paying for it. If you're stuck with a rate in the eights or nines from the 2022 rate environment, refinancing makes sense right now. Rates for good credit are hovering in the mid sixes to low sevens, and that spread is wide enough to matter even on a small remaining balance. Shop credit unions, keep the term at 12 months, and make sure you're not paying closing costs that erase your savings. If your rate is already decent, just finish the fight. Twelve more months and this Forester is yours free and clear, and Subarus run another decade past payoff without breaking a sweat. For more context on whether refinancing makes sense in general, see our main refinance verdict.