How do I transfer a car loan from one bank to another?
I think I can get a better interest rate with a different bank. How do I transfer my car loan?
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Answered on Apr 08, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.
“What you can do here is refinance your car loan, which involves taking on a new loan to pay off the balance of your current loan.
Once you have gathered your original loan agreement and all of your car’s information (purchase price, VIN, mileage, etc.), you can start shopping around for a new, more favorable loan with a different bank. Apply for the loans that make the most sense for your financial situation, with the best interest rates and terms, and submit any required forms or information to prospective lenders. You can apply online or in person.
From there, there is not much else you have to do. “
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