FAQs

Auto loan refinancing means replacing your current car loan with a new one, typically with better terms like a lower interest rate or monthly payment. It's a way to potentially save money over the life of your loan.

Our customers save an average of $280 per month on their car payments. Your exact savings will depend on your current loan terms, credit score, income, and vehicle. Get a personalized rate quote to see how much you could save.

When you apply for refinancing, we perform a soft credit pull that doesn't affect your credit score. Only if you proceed with a formal application will a hard inquiry be made, which typically has minimal impact on your credit score.

Qualification depends on several factors including your credit score, income, current loan terms, and vehicle. Generally, we look for borrowers with at least 6 months of payment history on their current loan, a vehicle less than 10 years old with fewer than 120,000 miles, and decent credit.

To begin the process, you'll need basic information about yourself (name, address, income), your vehicle (make, model, year, VIN), and your current loan (lender name, current payment, remaining balance).

The pre-qualification process takes just a few minutes online. You'll receive an initial decision and potential rate offers almost instantly after submitting your basic information.

You'll typically need proof of income (pay stubs or tax returns), proof of residence, proof of insurance, your driver's license, and information about your current loan and vehicle (VIN, registration, etc.).

After starting your application, you'll have access to our secure portal where you can easily upload photos or scans of all required documents. You can also send them via our mobile app.

We pride ourselves on transparent pricing with no hidden costs. While some states may have small title transfer fees, we don't charge application fees or prepayment penalties.

Many of our customers complete the entire process in just a few days. Once your application is approved and you've accepted an offer, we'll handle the payoff of your old loan and set up your new one, typically within 1-3 business days.

Your first payment on your new refinanced loan is typically due 30 days after your loan closing date. We'll provide you with the exact due date and payment instructions once your refinance is complete.

Yes, in many cases. Being upside down (owing more than your car is worth) doesn't automatically disqualify you. We evaluate each application individually and may still be able to offer you better terms than your current loan.

You won't need to change your insurance provider, but you will need to update your policy to list the new lender as the lienholder. We'll provide you with the specific information your insurance company needs.

Most lenders require full coverage insurance that includes comprehensive and collision coverage with deductibles typically not exceeding $1,000. We'll specify the exact requirements during your application process.

Refinancing your auto loan should not directly impact your insurance rates. Your insurance premiums are determined by factors like your driving history, vehicle type, and coverage levels, not by who finances your vehicle.