Does Car Refinancing Require an Appraisal?
Car refinancing rates are based on the amount of money you owe on your current loan, and the book value of your car based on make, model, year and total miles on your car. So, unlike home refinance loans, a car refinancing loan does not require an appraisal. Lenders utilize current book to value estimates to determine if they want to consider providing funding for a car refinancing loan. All you need to do is simply fill out a quick and easy online refinance loan application. What is Car Refinancing? Car refinancing programs are one of the best kept secrets in the auto industry. You probably never thought of refinancing your car, but it could save you thousands of dollars. Car refinancing works in a very similar way to home refinancing. When you refinance your current car loan you pay off that loan with a car refinance loan from a different lender that has a lower APR. Car refinancing loans can lower your monthly payment by reducing your interest rate but it also can save you $1,000’s
