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What do lenders look at when you refinance a vehicle?

"What do lenders look at when they're refinancing a vehicle? I'm thinking about refinancing my car, but I'm not sure how the process works."

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“The refinancing process is markedly similar to the
buying
process.
As a result, the lender will look at:
  • Credit report
  • Debt-to-income ratio
  • Verification of income and employment
  • All relevant personal information
It’s always a good idea to be aware of your credit before applying for a new loan or refinancing. You can monitor your credit using the
Credit Karma
app.”
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