Have questions?

We have answers. Check out our customers’ 
frequently asked questions

Why MotoRefi?

Refinancing 101

I’ve heard of refinancing a mortgage. Can I really do the same thing for my car?

Most people are familiar with refinancing a mortgage, but you can also refinance auto loans! When you refinance an auto loan with MotoRefi, you often save hundreds- even thousands- of dollars in interest.

Why should I refinance my vehicle?

Many people refinance because they can get better terms than when they first purchased their vehicle. This saves people money over the lifetime of their loan, either with a lower monthly payment, interest savings, or both! When you refinance, you also have an opportunity to adjust the term of your loan.

What factors go into qualifying for a refinance?

When you apply for a refinance, we’ll need a few pieces of information about you and your vehicle. This information helps us find the best terms you qualify for, and helps us pair you with one of our lending partners.

What kind of vehicles can I refinance with MotoRefi?

We currently work with all passenger vehicles including cars, trucks and SUVs. At this time, we are unable to offer refinancing for motorcycles and any commercial vehicles.

Can I refinance my lease with MotoRefi?

No, we do not currently refinance auto lease buyouts.

I’m interested in checking my rates. What’s involved?

To check your rates with MotoRefi, you’ll fill out a short application that provides us with general information about you, your current auto loan, and your vehicle. Then our technology gets to work, finding the best refi loan options for you in seconds. You’ll see offers from our lenders with no obligation, no Social Security Number required, and no impact to your credit score.

Will checking my rate cause a credit inquiry?

No. When you check your rate with MotoRefi, we’re submitting a soft credit inquiry, which does not impact your credit score. When you choose to move forward with the refinance, MotoRefi will perform a hard credit inquiry, which will be recorded by credit bureaus.

What information do you need about my vehicle?

When checking your rate, we’ll need either your VIN, license plate number or make/model/trim of your vehicle. This is because we’ll use the value of your vehicle to find you the best refi loan options available.

Where can I find my VIN number?

You can find your VIN where the dash and windshield meet on the driver’s side of your vehicle and on the end of the driver’s side door. You can also find your VIN on your vehicle’s registration paperwork and insurance card.

Can I refi with a co-borrower?

Yes. With MotoRefi, you can add a co-borrower to your new loan, as long as you’re a resident of a state allowing the addition of a co-borrower.

Do you need my social security number?

You can view your refi offers without submitting a Social Security Number (SSN). However, in order to complete your application and lock in your savings, we will need your SSN. Your privacy is important to us, and we use the latest security methods to ensure that your personal information stays safe.

Are there any fees involved with my refi?

When refinancing, there are costs associated with processing documents and retitling your vehicle. MotoRefi charges a $399 fee to cover these costs, and the fee is included in your refinanced loan amount.

I picked my refinance loan option. What’s next?

Once you’ve selected the loan option that works best for you, you’ll lock in your rate by creating an account and uploading a few documents using our secure online platform.

How do I upload my documents?

When it’s time to upload your documents, there’s a few different ways you can send them. You can upload via the online platform, or send your documents using email or text messaging.

Does MotoRefi offer products that can preserve the value of my vehicle?

Yes. If your refi is eligible, you’ll have the option to select Total Loss Protection, Extended Vehicle Protection, Key Replacement, and other products! Visit our Products page to learn more about these tools to help you protect your investment.

What’s the final step in my refinance process?

To complete your refinance, you’ll e-sign your loan agreement on our online platform. Then, we will work with your old and new lender to fund your refi. This is the very last step in the refi process. After that, you can relax and enjoy your newfound savings!

How does payment work during and directly after the refi process?

While refinancing, you’ll continue paying monthly on your current loan, until your new lender pays off your old loan. Concerned that you overpaid on your old loan in the process? Don’t worry- your old lender is required to send you a refund if there is any overpayment.


Don’t see your question above? Reach out to us at [email protected] or 1-877-445-0070

Stop paying more on your car loan. See your savings in seconds.
No SSN required and no impact to your credit to view your pre-qualified offers!
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