How does the auto loan refinance process work?
Each lender will have a slightly different process, but you can generally expect the following process: 1. Application: You complete an auto loan refinance application (either online or via telephone). 2. Decision: The lender will inform you if you have been approved. This can happen immediately, or take up to a day. Most approvals are “preliminary”, meaning that they are subject to meeting all terms and conditions of their auto loan refinance requirements. 3. Loan Selection: You will work with the lender to finalize the loan terms (interest rate, term, principal balance, etc.). The lender will likely ask for more information than you provided on the application. After receiving this information, the lender will create auto loan refinancing documents for you. 4. Sign Documents: You will receive auto loan documents (either online or hard copies through the mail); sign them, provide any required documents or notarizations, and return them. 5. Auto Loan Processing: The lender will process
