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REFINANCE

Auto Refinancing

Auto Refinancing
Here at RefiJet, we help people get a new auto loan for their personal cars. We work with most types of cars, trucks, and SUVs. If you financed the purchase of your vehicle and you’re interested in learning more about our refinancing opportunities, we encourage you to see if we are able to help you secure a new, more favorable loan.

We have auto refinance solutions for you to lower your monthly auto loan payment, lower your auto loan’s ARP, or get a loan with more favorable terms.
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Reasons to Refinance Your Car, Truck, SUV or Motorcycle

Lower Your Monthly Auto Loan Payment
Information
Refinancing an auto loan can help you lower your monthly payment. A new loan means new terms, which can save you money in the short term and the long run. If you’re ready for some breathing room in your monthly budget, turn to RefiJet.
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Lower Your Interest Rate (APR)
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If you have done a great job improving your credit or you just didn’t get the best deal possible the first time around, we may be able to lower your APR. We will do a soft pull to evaluate your credit (without affecting your credit score[SG3] [RR4] ) and know the lowest interest rate for which you qualify.
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Cash Back From the Equity in Your Car
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Whatever you have already paid into your car is known as the “equity” on your vehicle. If you owe less than you’ve paid into your vehicle, you may be able to take out cashback on your car’s equity to use for other necessities.
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Extend Your Auto Loan Term for Added Flexibility
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The RefiJet team of experts will help you find the right loan parameters to suit your spending goals. By extending, or shortening, your loan term you can change your payment structure in a way that makes the most sense for you.
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Auto Refinancing During Life-Changing Events
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We get it, life happens! Sometimes your budget just can’t go as far as you need it to. For many satisfied RefiJet clients, a refinance is all they need to get a bit of financial relief. If you’re facing a life-changing event, let our experts help you find more favorable loan terms to give you some breathing room in these trying times.
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Take a Vacation from Your Next Auto Loan Payment
Information
You may find yourself wondering what you could do with the extra wiggle room in your budget if you weren’t shackled to your monthly auto loan payments. Taking a little vacation may be an option for you.
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Add or Remove a Co-Borrower
Information
There are some situations in which RefiJet borrowers may benefit from adding or removing a co-borrower on their loan. Our team can help you determine if your co-borrowing situation is the most beneficial for your auto loan.
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Security
No Impact On Your Credit Score
RefiJet does an initial review with just a soft pull which doesn’t impact your credit profile

Additional Opportunities
During Your Loan Refinance

Extended Service
Contracts
Do you hate paying out of pocket for unexpected repairs that can eat-up all your disposable income or put you further in debt? That’s why we offer top qualify Extended Service Contracts that can be included in your loan.
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Guaranteed Asset
Protection (GAP)
GAP covers the difference between the value of the vehicle in the event it is totaled in an accident or it’s stolen, and the amount due on your loan. This means you are protected against out of pocket costs in an already difficult situation.
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Auto Refinance
Eligibility Requirements

These are some of the requirements needed to be able to pre-qualify for auto loan refinancing.
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Are you employed or have a verifiable source of income?
Have you made your recent car payments on-time?
Your vehicle must be 10 years old or newer
Your vehicle must have full coverage insurance
You must have a valid driver’s license
You must have a valid vehicle registration

Helpful Resources

Frequently Asked Questions
Why should I include an Extended Service Contract (ESC) in my refinance with RefiJet?
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This coverage covers the costs associated with unexpected repairs. Even minor repairs, with today’s technology, can cost thousands of dollars. Coverage includes parts, labor, and sales tax. You can choose any ASE Certified mechanic to fix covered repairs. We offer top-quality ESCs at competitive pricing. The cost of the ESC is added to your loan, raising your payment slightly, but when your vehicle needs repair, you’ll be darn glad you have it! Learn more about adding an Extended Service Contract to your auto refinance.

What if there are co-borrowers on the loan?
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If there are co-borrowers on the loan, then the title will show both borrowers. If you are adding someone as a co-borrower or if you are removing a co-borrower who will no longer be on the new refinance loan, the title needs to reflect the new ownership. RefiJet, will guide you through the entire process to make sure the new title accurately reflects the borrower(s) on the new refinance loan. This includes working with the state department of motor vehicles and both lenders to facilitate the process on your behalf.

How is the title handled during a refinance?
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When you refinance, a new title needs to be issued. This means that the old lender will no longer be on the title. The new title will show the new lienholder. This is a process that is conducted through your state department of motor vehicles. When you refinance with RefiJet, we handle every aspect of getting a new title as part of your loan refinance. When the title is updated, it will go to the appropriate party, either you or the lienholder, depending on the state.

How does RefiJet get the vehicle title for refinancing?
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If you live in a title-holding state, the borrower will have the official title document. You will need to send in the title to RefiJet to complete the refinance process. If you don’t have it, we will guide you through the process of getting a copy. Typically, to get a replacement title, you need to go to your department of motor vehicles or county tax office, depending on your state and county. Or, you might even be able to file online or send in a form to get the title in the mail. If the current lender has the title, we will handle the process of getting the title from the previous lender, who will release it directly to us as soon as that loan is paid off through the proceeds of the new refinance loan.

Why is it important?
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The title is the document that provides proof of your ownership in the vehicle. Depending on your state rules, either you keep a copy of the title or the lienholder holds it until the loan is paid off. When refinancing with RefiJet, we will let you know if you are in a title-holding state and need to provide us with the title.

What is a vehicle title?
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The vehicle title is the legal document that is the state’s record of who owns the vehicle. If you have an auto loan on that vehicle, both you and the lienholder are listed on the title. The lienholder is the lender who made the loan to you. When you pay off your loan, a new title is issued to you, showing you as the sole owner.

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