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Documents Needed
& Eligibility

Auto Refinancing
There are several Documents Needed For Auto Refinancing. A variety of identity, residence, income, and vehicle-related documentation is required to refinance a loan.  Different lenders require different documents needed for auto refinancing.  Your unique situation, such as your credit score, your type of income, or whether you are adding/deleting someone on the loan will also dictate which documents are needed.  Not only are the documents collected, but they are reviewed. Your documents need to be current (usually within 30 or 60 days of the contract date), legible and include data that matches the application data.

As your documents contain information that should remain private and secure, it’s important to keep your documents safe.  RefiJet provides a secure portal to safely upload your documents as you provide them for the refinance process.

Documents Always

Needed For an Auto Refinancing

Not only will you be required to upload copies or pictures of these documents, but it’s handy to have them available when you talk to a RefiJet FSR because they provide the answers to some of the application questions, such as the vehicle VIN.  In addition, if you have them handy, you can upload them while you are on the phone with the FSR, which helps your refinance move as quickly as possible.
Driver’s License
Registration
Odometer Photo
Proof of Insurance
  • Some lenders require proof of a certain level of coverage
  • Some lenders require that the lienholder be changed to reflect the new loan
  • Typically require the insurance card

Documents Frequently Needed

Proof of Income
  • Typically requires pay stub, W-2, tax returns, Social Security letter, or online employer income verification, depending on the type of employment (W-2, self-employed, contractor, social security, seasonal, etc.)
  • Lenders use the verified income when calculating the Payment-to-Income ratio, which is a method of evaluating risk.
Proof of Residence
Utility bill, lease, mortgage statement, auto insurance policy, etc.
Vehicle Title
If you are in a state where you are responsible for holding the vehicle title, you will need to provide it in order for the title to be perfected for the new lender.
Other Docs
Other documentation may be needed depending on the lender, your credit history, and the terms of the proposed loan.

Loan Documents

Not only will you be required to upload copies or pictures of these documents, but it’s handy to have them available when you talk to a RefiJet FSR because they provide the answers to some of the application questions, such as the vehicle VIN.  In addition, if you have them handy, you can upload them while you are on the phone with the FSR, which helps your refinance move as quickly as possible.

Credit Application

This document contains the application data that you provided by phone.

Note and Security Agreement (NSA)

Sometimes called a Promissory Note and Security Agreement: This is the actual agreement with the Lender for the loan. It clearly defines the interest rate/APR, loan term, loan amount, and any associated costs, such as the cost of GAP and/or ESC, state fees or taxes, etc.

One and the Same Agreement

This form is used to attest that you are the same person if there are different versions of your name, such as you used your middle name on your driver’s license but not on your previous loan.

Application for Title

This document is used to get a new title that establishes a security interest in the vehicle by the new lender.

Guarantee of Title

This requires the consumer to work with RefiJet to get the lien perfected for their new lender.

Odometer Statement

This is your attestation of the accurate mileage on your vehicle.

GAP contract

If you choose to include GAP in your loan, this is the contract.

ESC contract

If you choose to include ESC in your loan, this is the contract.

Risk-Based Pricing Letter/Credit Disclosure Notice

This is a notice from the lender about how they use your credit in their underwriting and approval process.

Military Lending Act Disclosure

If you are covered by the Military Lending Act (MLA), this is the required notice related to your loan and the protections affording by the MLA.

Authorization for Payoff

This form authorizes the payoff of your previous lienholder through the proceeds of the new loan.

Power of Attorney

This form authorizes a third-party to facilitate the transfer of title and handle other legal transactions specifically related to the new loan.

Auto Refinance
Eligibility Requirements

These are some of the requirements needed to be able to pre-qualify for auto loan refinancing.
Learn More About Eligibility
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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

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