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."
“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.”
MORE: How to Trade in a Car
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