Read some of our frequently asked questions on auto refinancing and lease buybacks.

Auto Refinancing FAQs

Every situation is different, but two of the most common benefits that our customers achieve are:

  1. Saving money paid on interest when financing into a lower interest rate.
  2. Lowering your monthly payment when financing into a lower interest rate or increasing the loan length.

There are several circumstances that may make it a good time to refinance your auto loan. Some of the most common are:

  1. If you are looking to reduce your monthly auto loan payment. Every situation is different, but it is common to reduce monthly payments during auto refinancing through lower interest rates, longer terms, or both.
  2. If your credit has improved since you bought the car, you may be able to get a lower interest rate by refinancing.
  3. When you have equity in your vehicle, you will have more and better options for refinancing your auto loan.

Yes. When you refinance you can remove the cosigner from the new loan. Your payment history on the existing loan will help you to achieve the best rate possible.

The prequalification process through will not impact your credit. Once you select your offer and complete the full application, this will typically cause a small reduction in your credit score. If you qualify for and accept a loan offer, you’ll typically see another small dip in your score.

Lease Buyout FAQs specializes in helping consumers buy out their lease. We have a simple 5 step process that helps you to buy out your lease so that you own your car, all without stepping into a dealership. To learn more click on the "Lease Buyout" link in the main menu and scroll down to the explanation of the 5 step process.

Buying out your lease enables you to capture any equity that you may have in your leased vehicle. You also avoid paying an elevated price on a new vehicle purchase or lease.

Loan approval and funding can be completed as fast as the same day, depending on what time of day you apply. Once the loan has been funded and you have sent your check and odometer disclosure statement into your leasing company, your work is complete. Your leasing company will then issue you a clean title once your payoff is processed.