What Information Do We Require To Refinance Your Car Loan?

When you apply, we will need you to prove your identity, confirm your employment, verify your income, and show that your vehicle registration and insurance are current before you can refinance your car loan.
Written by R.E. Fulton
Edited by Jessica Barrett
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This document provides an overview of the information we’ll ask for once you apply and are approved to refinance your car loan through Jerry. When you apply, we will need you to prove your identity, confirm your employment, verify your income, and show that your vehicle registration and insurance are current before you can refinance your car loan. Once you provide this information, we will review it and send you your loan documents for signature and in some cases, notarization. Once we receive signed documents back from you, we’ll work with one of our lenders to refinance your loan and start saving you some money!

Stipulations or “Stips”

All lenders have stipulations (aka “stips”) that you must meet to be able to refinance your car loan.  Here are the stipulations you must meet to refinance your car loan through Jerry:

1. Proof Of Identity

Document Needed: Current Driver’s License
Description: We will need a picture of your current driver’s license so that we can verify your identity.  We may need a picture of the front and back sides, depending upon the lender. We recommend you take pictures with your phone in good lighting and ensure all 4 corners are visible, so the image is legible.  Your driver’s license must be current (it cannot be expired) for your loan application.
1 - IDcard-front
1 - IDcard-back

2. Proof of Income

Document Needed: Most Recent Paystub
Description:
  • Not Self Employed: We will need your most recent paystub and last year’s W-2, so that we can verify your income.  Most applicants can access these documents via their HR system or payroll provider or receive them in the mail.  We accept most document types (e.g. .jpg/.png/.gif, .docx, .pdf) and also accept screenshots of these documents as well as pictures that applicants take of these documents from their mobile phone. 
  • Self-Employed: We will need the last 2 years of full tax returns, so we can verify your income.  Lenders will typically use the average of the last 2 years of reported income after deductions to determine the debt ratios (e.g. DTI). All files you provide should have your name and pay amount, including the start and end dates of the pay period.  If you are taking a picture, please ensure you have good lighting and all 4 corners of the document are in view, so everything is legible.
2 - Income

3. Proof Of Registration

Document Needed: Vehicle Registration
Description: We need to know that you have registered your car and that your registration is current.  Please submit your current registration card (most people keep this in their glove box).  If your registration has lapsed, you will need to renew your registration and provide proof of payment to your state’s DMV.
3 - Registration

4. Proof Of Insurance

Document Needed: Car Insurance Declarations Page
Description: We will need to verify that you have current car insurance.  Please provide either a document (PDF) with or image of your current car insurance declaration page.  If you are taking a picture, please ensure you have good lighting and all 4 corners of the document are in view, so everything is legible
If you shopped for car insurance with Jerry, you can find this document in your insurance policy section.
4 - Insurance

Loan documents

Once we verify all your stipulations documents, we’ll send you your loan documents for review. These documents contain the name of your lender, the terms of your loan and important disclosures that you should review. You will be asked to sign their documents, and in some states you will need to have the documents notarized. We will send you the documents via Docusign and provide instructions on what you need to do and where to mail your loan documents back to us.

Questions or issues?

If you have any questions or run into any issues providing your stipulations or signing your loan documents, please call us. We have loan specialists ready to help you Monday through Friday from 8am EST to 6pm EST. Our loan specialists can be reached by phone or text at (470) 336-3813!

Meet our experts

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R.E. Fulton
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Licensed Insurance Agent —Senior Content Writer
R.E. Fulton is an expert insurance writer specializing in car ownership topics from car shopping and loan advice to insurance and repair guides. R.E.’s mission is to create unique and accessible content that helps readers to become more successful and independent car owners. R.E. has written and edited over 900 high-performing articles for Jerry, with an average of 1 million+ views.
As a senior writer on Jerry’s editorial team, R.E. draws on over 10 years of experience as a professional writer and digital publishing specialist. Prior to joining Jerry’s editorial team in 2021, R.E. worked as a writing coach at Columbia University, the Rochester Institute of Technology (RIT), and the University of Rochester. They serve as a managing editor for peer-reviewed history publication Nursing Clio, where their work has appeared regularly since 2015.
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Jessica Barrett
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Car Expert
Jessica Barrett is a senior insurance writer and editor with 10 years of experience in the automotive and travel industries. A specialist in car insurance, car loans, and car ownership, Jessica’s mission is to create comprehensive content that car owners can use to manage their costs and improve their lives. As a managing editor for a team of writers and insurance specialists, Jessica has edited over 2,000 articles for Jerry on topics ranging from local insurance shopping tips to refinancing car loans with bad credit.
Before joining Jerry as a senior content editor in 2021, Jessica created visual content for clients such as Expedia, Vivid Seats, Budget Direct Car Insurance, Angie’s List, and HomeAdvisor. Her content was published in Business Insider, Forbes, Apartment Therapy, and the BBC.

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