Do you have to make a down payment when you refinance a car?
"Do I need money for a down payment when I refinance? I want to refinance my car."
“No, you don’t need a down payment when you refinance your vehicle, which is one of the main differences between refinancing and buying a new car.
To help them come to a rate and term on the new car loan, the lender will look at:
- how much equity you have in the vehicle
- your credit
- your income”
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