Terahertz time-domain spectroscopy (TDS) is a powerful characterization technique which allows for the frequency-dependent complex refractive index of a sample to be determined. This is achieved by comparing the time-domain of a pulse transmitted through air to a pulse transmitted through a material sample; however, the requirement for an independent reference scan can introduce errors due to laser fluctuations, mechanical drift, and atmospheric absorption. In this paper, we present a method for determining complex refractive index without an air reference, in which the first pulse transmitted through the sample is compared against the “echo”, where the internal reflections delay the transmission of the echo pulse. We present a benchmarking experiment in which the echo reference method is compared to the traditional air method, and show that the echo method is able to reduce variation in real refractive index.