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While I am working with RateGenius to refinance my automobile, can I stop making payments on my current loan?

April 26, 2017automobile loan PAYMENTS rategenius Refinance working

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While I am working with RateGenius to refinance my automobile, can I stop making payments on my current loan?

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No, you are contractually obligated to make payments on your current loan until your account is paid in full. Once all of your paperwork has been approved and funded by your new lender, a payoff check will be sent to your current lender. When the entire process is complete, and your current lender has been paid off, then you are free from your old loan.