Overview
During the auto refinancing process, you may be required to submit documents to verify your identity, vehicle details, and financial information. Providing the requested documentation as soon as possible will help avoid delays in processing your refinance application.
💡 Important: If the requested documents are not submitted in a timely manner, your loan application may be withdrawn.
Commonly Required Documents
1. Proof of Identity
To confirm your identity, you may be required to provide:
✔ A valid, unexpired government-issued ID (e.g., driver’s license, passport).
✔ If your name has changed, additional documents (such as a marriage certificate) may be required.
2. Vehicle Registration & Title Information
Your vehicle’s registration and title must be up to date before refinancing. You may be asked for:
✔ A copy of your vehicle’s current registration card.
✔ Additional documents if your registration is expired or does not match your loan application details.
💡 If your vehicle has a co-owner, they will need to provide consent and may be required to sign title transfer documentation.
3. Proof of Insurance
To meet refinancing requirements, your auto insurance policy must include:
✔ Comprehensive and collision coverage with a deductible that meets lender guidelines.
✔ Your new lender listed as the lienholder on the policy.
📌 For more details, see: Insurance Requirements for Auto Refinancing
4. Proof of Income & Employment
To verify your ability to repay the loan, you may be required to submit:
✔ Recent pay stubs (typically from the last 30-60 days).
✔ Bank statements showing regular income deposits.
✔ Tax returns (if self-employed).
5. Co-Owner Consent (If Applicable)
If your vehicle has a co-owner, they must:
✔ Sign a co-owner consent form acknowledging the refinance.
✔ Complete any additional documentation required for title transfer.
What Happens If I Don’t Submit My Documents?
Your loan application cannot be processed without the necessary documentation. If required documents are not provided in a timely manner:
✔ Your refinance application may be delayed or withdrawn.
✔ Your previous loan will remain active, and you will continue making payments to your current lender.
💡 Tip: To avoid delays, check your email and account dashboard regularly for document requests.
📌 Related Articles:
- Auto Refinancing: How It Works
- Vehicle and Loan Eligibility for Auto Refinancing
- How to Check Your Rate for Auto Loan Refinancing