How to apply for a loan?
To apply for an auto refinance, a potential borrower needs to:
- Click on the "Apply" button;
- Choose for what purpose they take financing;
- Enter what year of manufacture their car is;
- Choose the make and model of the car;
- Enter the vehicle's mileage;
- Fill in the name, residential address, email, phone number, and date of birth;
- Enter residence type, monthly residence payment, and the length of stay there;
- Select employment type and enter information about the employer, such as name and phone number;
- Enter gross annual income;
- Enter the SSN.
Requirements
To apply for car loan refinancing, the borrower must:
- Have a minimum of 560 credit score
- Do not have a debt-to-income ratio above 50%
- The borrower's car must not be older than 10 years
- The borrower's car should not have over 150,000 mileage.
Other credit requirements may vary depending on the lender.
Application details
To complete the processing of the application, AUTOPAY may ask the borrower to provide these documents:
- A driver's license
- Insurance
- Pay stubs or tax returns as proof of income
- Utility bill or lease agreement as proof of residence
- Payoff letter in case the borrower applies for car refinance.
