Check your current loan balance, interest rate, monthly payment, and payoff date
Review your credit score and credit report
Compare refinance offers from banks, credit unions, online lenders, and dealerships
Gather required documents such as proof of income, proof of insurance, vehicle registration, and current loan details
Apply for prequalification or preapproval with multiple lenders
Compare loan terms, interest rates, fees, and repayment periods
Choose the best refinance offer
Submit the full refinance 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 the old loan is closed
Start making payments on the new loan according to the new schedule