{"id":37189,"date":"2022-03-11T07:30:40","date_gmt":"2022-03-11T07:30:40","guid":{"rendered":" https:\/\/dev.way.com\/blog\/?p=37189"},"modified":"2022-04-25T08:12:01","modified_gmt":"2022-04-25T08:12:01","slug":"what-do-you-need-to-refinance-a-car","status":"publish","type":"post","link":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/","title":{"rendered":"What Do You Need to Refinance A Car?"},"content":{"rendered":"<p style=\"text-align: center;\"><em>Don&#8217;t tire yourself out searching the internet for queries like &#8220;What do you need to refinance a car&#8221; &#8211; we&#8217;ve got you covered!\u00a0 Find out what you need to have in hand before applying for <a href=\"https:\/\/www.way.com\/auto-refinance\" target=\"_blank\" rel=\"noopener\">easy auto refinancing<\/a>.<\/em><\/p>\n<p style=\"text-align: justify;\">Taking out any kind of auto loan is usually perceived to be a Herculean task. That&#8217;s because most companies ask for a mountain of details and documents before you can even apply to refinance your car! Everyone has gone through it at least once &#8211; there&#8217;s personal information, loan details, vehicle documents, insurance documents &#8211; the list seems endless!<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/media.giphy.com\/media\/wpgYasZ0tBrP4lCgS3\/giphy.gif\" \/><\/p>\n<p style=\"text-align: justify;\">However, we&#8217;re here to tell you that the list is NOT, in fact, endless. To get the <a href=\"https:\/\/www.way.com\/auto-refinance\/car-loans\/rates\" target=\"_blank\" rel=\"noopener\">best rates<\/a> and <a href=\" https:\/\/dev.way.com\/blog\/how-to-lower-car-payments\/\" target=\"_blank\" rel=\"noopener\">benefit from refinancing<\/a>, you need to know what<a href=\" https:\/\/dev.way.com\/blog\/top-auto-refinance-lenders-you-should-look-into\/\" target=\"_blank\" rel=\"noopener\"> lenders<\/a> are looking for, and it makes sense to have some details ready at hand. We&#8217;ve created a comprehensive list of everything you may need to refinance your car below.<\/p>\n<blockquote><p><em><strong>Pro Tip: <\/strong>Keep three types of information ready &#8211; your personal details, your vehicle&#8217;s details like registration and insurance, and the previous loan documents. This will significantly improve reference time and smoothen the application process!<\/em><\/p><\/blockquote>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #e71346;color:#e71346\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #e71346;color:#e71346\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#What_Is_Auto_Refinancing\" >What Is Auto Refinancing?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#When_Can_You_Refinance_a_Car\" >When Can You Refinance a Car?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#What_Personal_Information_Do_You_Need_to_Refinance_a_Car\" >What Personal Information Do You Need to Refinance a Car?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#What_Is_the_Vehicle_Information_Needed_to_Refinance_a_Car\" >What Is the Vehicle Information Needed to Refinance a Car?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#Loan_Documents_needed_to_Refinance_a_Car\" >Loan Documents\u00a0needed to Refinance a Car<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#What_Is_the_Vehicle_Information_Needed_to_Refinance_a_Car-2\" >What Is the Vehicle Information Needed to Refinance a Car?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#Does_Refinancing_Require_a_Down_Payment\" >Does Refinancing Require a Down Payment?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_Auto_Refinancing\"><\/span><span data-contrast=\"none\">What Is Auto Refinancing?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\"><a href=\"https:\/\/www.way.com\/auto-refinance\" target=\"_blank\" rel=\"noopener\">Auto refinancing<\/a> is the process of replacing your existing car loan with a new loan that has better terms and conditions. The new loan helps pay off the remaining amount on your previous car loan, after which you start paying monthly payments on the new loan &#8211; ideally with a lower interest rate.<\/span><\/p>\n<p style=\"text-align: justify;\">The advantage of car refinancing is that you can get a new loan with a lower APR (Annual Percentage Rate) or a lower monthly payment, which can <a href=\" https:\/\/dev.way.com\/blog\/can-car-loan-refinancing-help-you-save-money\/\" target=\"_blank\" rel=\"noopener\">help save money in the long run<\/a>. Auto refinancing is also useful for people who want to add\/remove a co-signer to their loan or make changes to their current loan so as to rationalize their expenses.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"When_Can_You_Refinance_a_Car\"><\/span><a href=\"https:\/\/www.way.com\/auto-refinance\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">When Can You Refinance a Car?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It&#8217;s a good time to refinance your car if you find yourself in any of the situations below:<\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"none\">If your <\/span><b><span data-contrast=\"none\">credit score has improved<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559737&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">If you\u2019ve become <\/span><b><span data-contrast=\"none\">eligible for a better loan<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">When your <\/span><b><span data-contrast=\"none\">monthly expenses have increased<\/span><\/b><span data-contrast=\"none\"> and you want to save money<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">If you want to <\/span><b><span data-contrast=\"none\">add a co-signer<\/span><\/b><span data-contrast=\"none\"> to your loan<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">If your <\/span><b><span data-contrast=\"none\">car has become old<\/span><\/b><span data-contrast=\"none\"> and is not worth the high monthly payments<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:720,&quot;335559737&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259,&quot;335559991&quot;:360}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.way.com\/auto-refinance\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/02\/REFINANCE-BANNER.png\" alt=\"What do you need to refinance a car? Cut the clutter with Way.com\" width=\"744\" height=\"276\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Personal_Information_Do_You_Need_to_Refinance_a_Car\"><\/span><span data-contrast=\"none\">What Personal Information Do You Need to Refinance a Car?<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>To make your refinancing application process smoother, here are the <strong>Personal Documents needed to Refinance a Car:<\/strong><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Driver\u2019s License\u00a0<\/strong><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Social Security Number<\/strong><\/li>\n<li><b><span data-contrast=\"none\">Your credit score<\/span><\/b><span data-contrast=\"none\">: Ideally above 660. Many credit bureaus offer a free credit report every year.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559737&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Proof of Income:<\/strong> May include pay stubs, tax returns, and proof of employment. This is important because the APRs can vary depending on whether you are permanently employed, self-employed, or are freelancing.<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Proof of Residence:<\/strong> Lenders accept mortgage statements, auto insurance policies, utility bills, property tax bills, or bank statements.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-37194\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-refinance-car1.jpg\" alt=\"A man entering information to refinance a car loan\" width=\"632\" height=\"475\" srcset=\"http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-refinance-car1.jpg 774w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-refinance-car1-300x225.jpg 300w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-refinance-car1-768x576.jpg 768w\" sizes=\"auto, (max-width: 632px) 100vw, 632px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_the_Vehicle_Information_Needed_to_Refinance_a_Car\"><\/span>What Is the Vehicle Information Needed to Refinance a Car?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Vehicle Identification Number (VIN)<\/strong><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Make and Model<\/strong><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Year<\/strong><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Title<\/strong><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Proof of Car Insurance<\/strong><\/li>\n<\/ul>\n<p>Most of these details are included on your vehicle registration card.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Loan_Documents_needed_to_Refinance_a_Car\"><\/span><span data-contrast=\"none\">Loan Documents<strong>\u00a0needed to Refinance a Car<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-37196\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-to-refinance-a-car.jpg\" alt=\"A man with a list of documents to refinance a car loan\" width=\"613\" height=\"408\" srcset=\"http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-to-refinance-a-car.jpg 870w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-to-refinance-a-car-300x200.jpg 300w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-to-refinance-a-car-768x512.jpg 768w, http:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/what-do-you-need-to-refinance-a-car-600x400.jpg 600w\" sizes=\"auto, (max-width: 613px) 100vw, 613px\" \/><\/span><\/p>\n<p>Your refinance lenders will need to know the <strong>details of the current car loan<\/strong> to analyze whether you&#8217;re fit for refinancing. This includes:<\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"none\">14-day payoff amount: <\/span><\/b><span data-contrast=\"none\">The amount you owe to completely pay off the existing loan<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Car Loan-to-value ratio<\/span><\/b><span data-contrast=\"none\">: Ensure that you are not \u201cunderwater\u201d on your car loan (owing more than what the car is worth). This can be helpful if you need <a href=\" https:\/\/dev.way.com\/blog\/cash-back-auto-loan-refinancing\/\" target=\"_blank\" rel=\"noopener\">cash-out auto refinancing<\/a>.<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Loan term remaining<\/span><\/b><span data-contrast=\"none\">:\u00a0 Ideally, you should have more than a year left on the existing loan \u2013 otherwise, it may not be worth refinancing.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559737&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Prepayment penalty<\/span><\/b><span data-contrast=\"none\">: Ensure that your existing loan provider will not penalize you for paying off the loan early.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559737&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">The <strong>new refinance loan documents<\/strong> will include the following:<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"none\"><strong>Your Credit Application<\/strong> with most of the data you have provided<\/span><\/li>\n<li><span data-contrast=\"none\"><strong>One and the Same Agreement <\/strong>attests that you are the same person as mentioned in the document and any different versions of your name if any.<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Note and Security Agreement<\/strong> is the actual agreement with the refinance lender. It mentions the loan amount, APR, and other fees.<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Credit disclosure notice<\/strong> tells you how they used your credit score to finalize their offer<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Odometer Check<\/strong> to attest the mileage of your vehicle<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>Military Lending Act Disclosure<\/strong> if you are a serving\/retired member of the armed forces<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong>GAP Contract\u00a0<\/strong> if you choose to add protection to your loan<\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><a href=\" https:\/\/dev.way.com\/blog\/what-is-an-extended-vehicle-service-plan\/\" target=\"_blank\" rel=\"noopener\"><strong>ESC Contract<\/strong><\/a> to extend the warranty for any mechanical failure<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_the_Vehicle_Information_Needed_to_Refinance_a_Car-2\"><\/span>What Is the Vehicle Information Needed to Refinance a Car?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span data-contrast=\"none\">Check whether your car meets the following <\/span><b><span data-contrast=\"none\">vehicle criteria<\/span><\/b><span data-contrast=\"none\"> to be eligible for refinancing.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<ol>\n<li style=\"text-align: justify;\"><b><span data-contrast=\"none\"> Vehicle Age<\/span><\/b><span data-contrast=\"none\">: Most refinance will not refinance cars older than 12 years.<\/span><\/li>\n<li style=\"text-align: justify;\"><b><span data-contrast=\"none\"> Mileage: <\/span><\/b><span data-contrast=\"none\">Any vehicle that has less than 150,000 miles on it can qualify for refinancing.<\/span><\/li>\n<li style=\"text-align: justify;\"><b><\/b> <b><span data-contrast=\"none\">Model and make<\/span><\/b><span data-contrast=\"none\">: Some lenders will not refinance electric vehicles, hybrids, or models that have been phased out.<\/span><\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Does_Refinancing_Require_a_Down_Payment\"><\/span>Does Refinancing Require a Down Payment?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">You don&#8217;t necessarily need to make a down payment to qualify for auto refinancing. However, if you want to <a href=\" https:\/\/dev.way.com\/blog\/can-you-refinance-car-loan-with-bad-credit\/\" target=\"_blank\" rel=\"noopener\">qualify for refinancing even with a bad credit score<\/a>, you can make a larger down payment so that lenders will be more confident of lending to you.<\/p>\n<p><a href=\"https:\/\/www.way.com\/auto-refinance\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/blog.way.com\/wp-content\/uploads\/2022\/02\/REFINANCE-BANNER.png\" alt=\"What do you need to refinance a car? Use Way.com for easy refinance\" width=\"780\" height=\"289\" \/><\/a><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><em>Read more blogs for info on finding\u00a0<\/em><a href=\" https:\/\/dev.way.com\/blog\/category\/parking\/airport-parking\/\"><em>top-rated airport parking<\/em><\/a><em>, the best\u00a0<\/em><a href=\" https:\/\/dev.way.com\/blog\/category\/parking\/city-parking\/\"><em>parking spots in your city<\/em><\/a><em>, and affordable\u00a0<\/em><a href=\" https:\/\/dev.way.com\/blog\/category\/car-wash\/\"><em>car washes near you<\/em><\/a><em>.<\/em><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Don&#8217;t tire yourself out searching the internet for queries like &#8220;What do you need to refinance a car&#8221; &#8211; we&#8217;ve got you covered!\u00a0 Find out what you need to have in hand before applying for easy auto refinancing. Taking out any kind of auto loan is usually perceived to be a Herculean task. That&#8217;s because&hellip; <a class=\"more-link\" href=\"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/\">Continue reading <span class=\"screen-reader-text\">What Do You Need to Refinance A Car?<\/span><\/a><\/p>\n","protected":false},"author":46,"featured_media":37210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1962,1855],"tags":[],"class_list":["post-37189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auto-refinance","category-finance","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.3 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What Do You Need to Refinance A Car? | Documents needed to Refinance a Car<\/title>\n<meta name=\"description\" content=\"Puzzled about the documents needed when refinancing a car loan? In this post, we&#039;ve broken down everything you need to refinance a car easily!\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Do You Need to Refinance A Car?\" \/>\n<meta property=\"og:description\" content=\"Puzzled about the documents needed when refinancing a car loan? In this post, we&#039;ve broken down everything you need to refinance a car easily!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/\" \/>\n<meta property=\"og:site_name\" content=\"Way Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-11T07:30:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-25T08:12:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_425685916_L-1024x768.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mahesh SL\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mahesh SL\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/\"},\"author\":{\"name\":\"Mahesh SL\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#\\\/schema\\\/person\\\/c916386c61281bccf925ffea1c3d35d9\"},\"headline\":\"What Do You Need to Refinance A Car?\",\"datePublished\":\"2022-03-11T07:30:40+00:00\",\"dateModified\":\"2022-04-25T08:12:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/\"},\"wordCount\":912,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/Depositphotos_425685916_L.jpg\",\"articleSection\":[\"Auto Refinance\",\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/\",\"url\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/\",\"name\":\"What Do You Need to Refinance A Car? | Documents needed to Refinance a Car\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/Depositphotos_425685916_L.jpg\",\"datePublished\":\"2022-03-11T07:30:40+00:00\",\"dateModified\":\"2022-04-25T08:12:01+00:00\",\"description\":\"Puzzled about the documents needed when refinancing a car loan? In this post, we've broken down everything you need to refinance a car easily!\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/#primaryimage\",\"url\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/Depositphotos_425685916_L.jpg\",\"contentUrl\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/Depositphotos_425685916_L.jpg\",\"width\":2000,\"height\":1500,\"caption\":\"Auto loan refinance concept. The man offers to sign the document.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/what-do-you-need-to-refinance-a-car\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Finance\",\"item\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/finance\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Auto Refinance\",\"item\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/finance\\\/auto-refinance\\\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"What Do You Need to Refinance A Car?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#website\",\"url\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/\",\"name\":\"Way Blog\",\"description\":\"Cars \ud83d\ude97 Simplified\",\"publisher\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#organization\",\"name\":\"Way.com\",\"url\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/cropped-wayCom_RedLogo-1.png\",\"contentUrl\":\"https:\\\/\\\/wordwblog02.way.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/cropped-wayCom_RedLogo-1.png\",\"width\":700,\"height\":127,\"caption\":\"Way.com\"},\"image\":{\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/#\\\/schema\\\/person\\\/c916386c61281bccf925ffea1c3d35d9\",\"name\":\"Mahesh SL\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g\",\"caption\":\"Mahesh SL\"},\"jobTitle\":\"Senior Software Engineer\",\"url\":\"https:\\\/\\\/dev.way.com\\\/journal\\\/author\\\/mahesh\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"What Do You Need to Refinance A Car? | Documents needed to Refinance a Car","description":"Puzzled about the documents needed when refinancing a car loan? In this post, we've broken down everything you need to refinance a car easily!","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"What Do You Need to Refinance A Car?","og_description":"Puzzled about the documents needed when refinancing a car loan? In this post, we've broken down everything you need to refinance a car easily!","og_url":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/","og_site_name":"Way Blog","article_published_time":"2022-03-11T07:30:40+00:00","article_modified_time":"2022-04-25T08:12:01+00:00","og_image":[{"width":1024,"height":768,"url":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_425685916_L-1024x768.jpg","type":"image\/jpeg"}],"author":"Mahesh SL","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Mahesh SL","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#article","isPartOf":{"@id":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/"},"author":{"name":"Mahesh SL","@id":"https:\/\/dev.way.com\/journal\/#\/schema\/person\/c916386c61281bccf925ffea1c3d35d9"},"headline":"What Do You Need to Refinance A Car?","datePublished":"2022-03-11T07:30:40+00:00","dateModified":"2022-04-25T08:12:01+00:00","mainEntityOfPage":{"@id":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/"},"wordCount":912,"commentCount":0,"publisher":{"@id":"https:\/\/dev.way.com\/journal\/#organization"},"image":{"@id":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#primaryimage"},"thumbnailUrl":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_425685916_L.jpg","articleSection":["Auto Refinance","Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/","url":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/","name":"What Do You Need to Refinance A Car? | Documents needed to Refinance a Car","isPartOf":{"@id":"https:\/\/dev.way.com\/journal\/#website"},"primaryImageOfPage":{"@id":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#primaryimage"},"image":{"@id":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#primaryimage"},"thumbnailUrl":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_425685916_L.jpg","datePublished":"2022-03-11T07:30:40+00:00","dateModified":"2022-04-25T08:12:01+00:00","description":"Puzzled about the documents needed when refinancing a car loan? In this post, we've broken down everything you need to refinance a car easily!","breadcrumb":{"@id":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#primaryimage","url":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_425685916_L.jpg","contentUrl":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2022\/03\/Depositphotos_425685916_L.jpg","width":2000,"height":1500,"caption":"Auto loan refinance concept. The man offers to sign the document."},{"@type":"BreadcrumbList","@id":"https:\/\/dev.way.com\/journal\/what-do-you-need-to-refinance-a-car\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/dev.way.com\/journal\/"},{"@type":"ListItem","position":2,"name":"Finance","item":"https:\/\/dev.way.com\/journal\/finance\/"},{"@type":"ListItem","position":3,"name":"Auto Refinance","item":"https:\/\/dev.way.com\/journal\/finance\/auto-refinance\/"},{"@type":"ListItem","position":4,"name":"What Do You Need to Refinance A Car?"}]},{"@type":"WebSite","@id":"https:\/\/dev.way.com\/journal\/#website","url":"https:\/\/dev.way.com\/journal\/","name":"Way Blog","description":"Cars \ud83d\ude97 Simplified","publisher":{"@id":"https:\/\/dev.way.com\/journal\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/dev.way.com\/journal\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/dev.way.com\/journal\/#organization","name":"Way.com","url":"https:\/\/dev.way.com\/journal\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/dev.way.com\/journal\/#\/schema\/logo\/image\/","url":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2020\/10\/cropped-wayCom_RedLogo-1.png","contentUrl":"https:\/\/wordwblog02.way.com\/wp-content\/uploads\/2020\/10\/cropped-wayCom_RedLogo-1.png","width":700,"height":127,"caption":"Way.com"},"image":{"@id":"https:\/\/dev.way.com\/journal\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/dev.way.com\/journal\/#\/schema\/person\/c916386c61281bccf925ffea1c3d35d9","name":"Mahesh SL","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0ecb7f75edfde94269f5650c8555683909b8fabf450d7fe168896cc85d0edc5d?s=96&d=mm&r=g","caption":"Mahesh SL"},"jobTitle":"Senior Software Engineer","url":"https:\/\/dev.way.com\/journal\/author\/mahesh\/"}]}},"_links":{"self":[{"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/posts\/37189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/comments?post=37189"}],"version-history":[{"count":0,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/posts\/37189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/media\/37210"}],"wp:attachment":[{"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/media?parent=37189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/categories?post=37189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.way.com\/journal\/wp-json\/wp\/v2\/tags?post=37189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}