Credit Union of New Jersey

Having questions about auto loan refinancing is common with factors like eligibility, documentation, potential savings, and application steps to consider. We’ve compiled some frequently asked questions to provide clarity and simplify the process. Still have a question? Reach out to us at 908-589-7963 or ask@autorefi.cunj.com and one of our team members will assist you.

There is no fee to apply.

All credit scores are welcome! In fact, those with less-than-perfect credit often find more savings. Apply now to see what your savings might be every month. If you received an offer of credit letter with a promo code, you were already pre-qualified at that time and meet our initial credit criteria.

In most cases, if you originally financed through a dealership, you would probably save a significant amount by refinancing. Or if your credit score increased since purchasing the vehicle, you may qualify now for a lower rate.

Pre-qualification refers to being pre-approved based on the credit information provided us by the credit bureaus. You were selected based on your credit score falling within an acceptable range. Other factors need to be reviewed before approval, like the vehicle information and your current employment information.

Your offer expires 6 weeks after you've been pre-qualified. You may use your offer up to the expiration date. If your offer expires before you are ready to refinance your vehicle, you are still welcome to apply, rates and payments are subject to change due to market conditions.

You are not required to extend your loan beyond your current term. In some cases, this may be required to meet lending requirements or if you are trying to maximize your monthly savings.

Credit Union of New Jersey and our marketing partner take the security of your personal information seriously. Please review our privacy policy on our corporate website for details.

In general, these documents will be required:

Driver’s License
Registration
Proof of Income
Proof of Insurance
Title: if you are in a state where you are responsible for holding the vehicle title, you will need to provide it for the title to be perfected for the new lender
Other documentation may be required

Start Saving on your Auto
Loan by Refinancing

Save money on your Auto
Loan by Refinancing