Lender No No's

This is a list of the most common reasons for a declined auto loan refinance application. If one of these applies to you, please fix the problem prior to applying for your new loan.

Lenders will turn you down:

* If you are trying to refinance a vehicle older than 2002.
* If you are trying to refinance a vehicle with more than 100,000 miles.
* If you are trying to refinance less than $7,500.
* If you are currently unemployed, with no verifiable source of income.
* If you're gross monthly income is below $2000 a month. May need cosigner.
* If your credit score is below 520. Check your credit here Fico Scores/Reports
* If you are currently in debt consolidation/credit counseling.
* If you are currently in Chapter 13 Bankruptcy.
* If you are currently in foreclosure.
* If you are under 18 years of age.
* If you are currently more than 60 days late (30 days is usually a killer as well) on your car payment.