Check your current loan balance, interest rate, and remaining term
Review your credit score and credit report
Compare refinance offers from banks, credit unions, and online lenders
Gather required documents such as ID, proof of income, proof of insurance, and vehicle information
Apply for multiple refinance quotes
Compare the new interest rate, monthly payment, loan term, and total cost
Make sure the new loan does not include excessive fees or penalties
Choose the best offer and submit the full application
Provide any additional documents the lender requests
Review and sign the new loan agreement
Confirm the new lender pays off your old loan
Verify your old loan is closed and the title or lien is updated
Start making payments on the new loan on time