What Do I Need to Refinance My Car Loan?

Ready to refinance your auto loan but not sure what documents you’ll need? Refinancing your car loan can be a simple way to lower your monthly payment, reduce your interest rate, or adjust your term to better fit your budget. But before you can get started, you’ll need a few key documents to verify your identity, vehicle, and income. Having these ready helps speed up the process so you can get your new loan approved faster.

Here’s what you’ll need when refinancing with Second Chance Now:

1. Driver’s License or State ID

A valid photo ID is required to confirm your identity. This can be a driver’s license or another government-issued state ID. Make sure it’s up to date and matches the name on your current auto loan.

2. Proof of Auto Insurance

Your insurance card shows that your vehicle is properly insured, something every lender requires before finalizing a refinance. A clear photo or digital copy of your insurance card is all you need.

3. Vehicle Registration

Your registration confirms ownership of the vehicle and helps verify important details like your VIN and license plate number. Lenders require current registration, so check the expiration date and consider renewing if it expires within 30 days.

4. Proof of Income

To qualify for a new loan, you’ll need to show proof of steady income. If you’re employed, provide your two most recent paystubs. If you’re self-employed, you’ll need two years of federal tax returns. Supplying this information helps lenders determine your ability to make the new payment.

5. (Optional) Original Finance Contract

While not required, your original finance contract can be helpful. It shows your current loan terms, interest rate, and what went into your original loan. The contract lists items like GAP coverage, service contracts, and warranty products that were included in your original financing. When you refinance, some of these products may be eligible for a pro-rated refund, depending on their remaining term and coverage. Providing this helps Second Chance Now review those details and ensure you don’t leave any money on the table.