Auto Refinance Frequently Asked Questions

Auto refinancing is pretty simple. Still, there are often questions about the process, from “how much can I refinance?” to “what happens after I’m approved?” Here are the answers to the most frequently asked questions.

General Information

Auto refinance is a situation in which you replace your existing auto loan with a new one, typically with better terms. At RoadLoans, we make every effort to make the process of auto refinancing as simple and fast as possible.
RoadLoans is a leading national auto lender that finances loans for customers with all types of credit. We’re the direct-lending division of Santander Consumer USA, and part of global banking group Banco Santander.
Refinancing is a straightforward process with RoadLoans. If approved, you can download the necessary documents to sign and submit, and we’ll take care of the rest. We will work with your current lender to pay off your existing note and receive the title to your vehicle.
RoadLoans does not charge any fees for a traditional refinance without cash back. However, each state imposes a title transfer fee that ranges from $5 to $65 depending on the state in which you live. This fee is imposed by your state, not RoadLoans. We will pay this fee on your behalf and add it to your final loan amount. A fee may apply if you accept a cash-back refinance offer.
With cash-back auto refinance, approved customers can tap into the value of their car and borrow extra cash up to $5,000.*
Eligibility for a cash-back amount depends on a combination of factors, including the vehicle value, current outstanding balance, payment history and income.*
If approved for cash back, your cash-back money will be automatically sent to you when your refinance loan documentation has been received and verified by a RoadLoans funding specialist. Once completed, the funds will be forwarded to you via check, or you can choose to have the money electronically transferred to your account.
You can use your cash-back money as you wish. Consolidate debt and pay off higher interest obligations you may have, pay for home and auto repairs, or buy a big-ticket item – there are endless options.
If you’re an existing Santander Consumer USA customer, you may be able to refinance an auto loan that you have with another lender. However, you must have at least six months of good payment history on your existing Santander Consumer USA account.

I want to apply…

Applying with RoadLoans is free. We do not charge any application or documentation fees that you may encounter with other companies. Apply with us and, if approved, receive a no-obligation quote so you can choose the auto loan that’s right for you.
Applying for refinancing with RoadLoans is easy. It should only take you a few minutes to complete the one-page online form.
You must refinance the entire balance (i.e. the full payoff amount) of your existing loan, subject to RoadLoans’ minimum and maximum loan amounts.
See the “Buying and Refinancing Requirements” section of the application page for our financing and refinancing requirements.
No – there’s no minimum waiting period. You can refinance your current car loan as soon as you wish.
Not necessarily. Most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time (the Consumer Financial Protection Bureau recommends doing your comparison shopping within 14 – 45 days). Typically, these are treated as a single inquiry and will have little impact on the credit score.
The amount you may save by refinancing can vary based on factors such as the balance of your current auto loan, the new interest rate and any changes in the loan duration. If approved, you will receive customized information relevant to your loan situation.
If approved, several things influence the interest rate you will be offered including your personal credit history and RoadLoans financing costs. Interest rates can change any day.
RoadLoans finances auto loans for customers with all types of credit. Even if you’ve had previous credit problems, RoadLoans may be able to help you save money on your auto loan.
You can apply for cash-back refinancing through our regular RoadLoans application page. Simply select the “Cash-back Refinance” loan type when you apply.
RoadLoans takes your security and privacy very seriously. Our site uses Secure Sockets Layer (SSL) encryption for all customer data and has been authenticated by Verisign. RoadLoans is owned by global banking leader Banco Santander, named “Global Bank of the Year” in 2017 by The Banker magazine.

I am approved

No. RoadLoans will only refinance an auto loan held with another lender, which does not include loans serviced by Santander Consumer USA.
Several factors influence the interest rate you are offered including your personal credit history and RoadLoans financing costs. Interest rates can change any day.
You can log in online at and select your refinance offer. After selecting your offer, simply download and complete your loan documents and send them back to RoadLoans using the prepaid UPS shipping label.
Do not cross out the mistake or use correction fluid as this will invalidate the contract. Please call us at (888) 276-7202 during business hours:
  • Monday through Thursday between 7 a.m. and 9 p.m. CST.
  • Fridays: We are open until 7 p.m. CST.
  • For your convenience, we are also open on Saturdays from 8 a.m. through 12 p.m. CST.
There are nearly 40,000 UPS drop-off locations nationwide. You can drop off your document at any of these locations – 24hours a day, seven days a week. You can find your nearest drop-off locationby visiting Dropping off not work for you? No problem –you can also schedule a free pickup via Just click on Shipping >Schedule a pickup, or by calling 1-800-742-5877.
After your loan is funded, you can pay online or sign up for our free auto-debit program. You can also pay by phone, check, Western Union, MoneyGram, CheckFreePay and PayNearMe.
RoadLoans does not charge any prepayment fees. You may pay off either a portion of your loan or the entire amount at any time without incurring any fees or penalties.
Your cash back will be available once we have finalized your loan. This typically takes up to two weeks from the day we receive your loan packet.

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These statements are informational suggestions only and should not be construed as legal, accounting or professional advice, nor are they intended as a substitute for legal or professional guidance.

RoadLoans is not a credit counseling service and makes no representations about the responsible use of or restoration of consumer credit.

* View disclosures and offer information.