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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 us 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 us, 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.
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