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."

Answer
“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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Eric Schad
Answered on Jul 28, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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