Question : How long should you be employed before qualifying to refinance an auto loan?
I would like to lower my monthly payments by refinancing my auto loan. I have a good credit score to refinance (700s). I was recently unemployed (from October to February). However, I am about to start a new job this March 1.How long should I be employed to qualify for an auto loan refinancing? (if there is such a requirement)Thanks, I appreciate it.
- asked by Chris
All Answers:
Answer #1
Since you have a new job, it is not advisable torefinance your auto loan.
- answered by Eddy T
Answer #2
I checked with a bunch of places when we werelooking to refinance. When they'd give me astraight answer they said you have to be employeda minimum of 3 months before they'd consider youfor refinancing. We also moved at the same timeas the new employment started, which also provedto be a problem for some people. Or it could havebeen the combination of the move and new job. Wehave excellent credit so that wasn't a factor.
- answered by breezy87
Answer #3
It is not necessary that ur employed or not now, but u should have bank approval means NOC on youraccount for auto loan..the bank need to contactyour company and required its detail if you havepre approval from bank for auto loan then forgeteverything and just approach your bank withouttelling them that you are not employed..just tellthem details of your account..leave everything onthem..no need to explain to them....
- answered by Pawan S
Answer #4
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- answered by Aubrey
Answer #5
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- answered by Edward
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