How to Refinance a Van

A van purchased during a period of higher interest rates or with a low down payment could present an opportunity to lower your monthly payment. Refinancing the loan for a longer term or a more attractive finance rate might help lower your expenses. If your credit history and credit score has improved since you purchased your van, you may qualify for better financing terms.

Instructions

1

Verify the credit reporting for your van loan and other items that appear on your credit profile. Obtain your credit report and score online from Annual Credit Report. Pay off any past due items and accounts that reflect a collection status. Dispute credit items that do not belong to you but appear on your credit report.

2

Refinance your van with your current lender. Tell your lender that you are shopping the marketplace for a loan to refinance your van. Inquire about current rates, terms and whether your payment history will qualify for preferred or standard auto refinance rates.

3

Visit auto lenders online to compare rates for refinancing. Check the interest rates, fees and other costs for lenders who advertise auto refinance loans.

4

Use an auto refinance calculator to compute your estimated van payment. Enter details such as your loan balance, number of years to finance your vehicle and the average interest rate you observed during your research of auto lenders.

5

Submit your request to refinance your van loan. Supply your income details upon request.