Auto Refinance Frequently Asked Questions

General Information

Auto refinance is when you replace your existing auto loan with a new one, typically with better and/or different terms. At RoadLoans, we make every effort to make the process of auto refinancing as simple and fast as possible.
RoadLoans has been an auto finance lender for over 12 years. We are able to finance and service loans for customers with any type of credit. RoadLoans is part of Santander Consumer USA, a unit of Banco Santander, the largest bank in the eurozone.
Refinancing can be a simple process with RoadLoans. Upon approval, you can download the necessary documents to sign and submit. From there, RoadLoans will take care of the rest. We will work with your current lender to pay off your existing loan and receive the title to your vehicle from your old lender.
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 reside. This fee is charged 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, you can tap into the value of your car and borrow extra cash up to $5,000.
Your cash back money will be automatically sent to you. The funds will be sent 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 funds electronically transferred into 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 large ticket item. Your options are limitless.
Cash back amount eligibility depends on a combination of factors, including the vehicle value, current outstanding balance, payment history and income.
If you are 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 6 months of good payment history on your existing Santander Consumer USA account.

I want to apply…

Applying for an auto loan with RoadLoans is free. We do not charge any application or documentation fees that you may encounter with other companies. Apply with us and, upon approval, receive a free, no-obligation quote so you can choose the auto loan that is right for you.
Applying for refinancing with RoadLoans is an easy process. It should only take you a few minutes to complete the application form.
You must refinance your 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.
Not necessarily. Most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score.
No. There is no minimum waiting period. You can refinance your current car loan as soon as you wish.
The amount you will save by car refinance can vary based on the balance of your current auto loan, how much lower your new interest rate is compared to the old one, any changes in the loan term etc. Upon approval, you will receive customized information relevant to your loan situation.
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 (NYSE: SAN), named “Best Bank in the World” by EuroMoney Magazine, and one of the “Top 10 Safest Banks” by Global Finance Magazine.
RoadLoans specializes in financing and servicing loans for customers with less than perfect credit. Even if you’ve had previous credit problems, RoadLoans may be able to help you save money on your auto loan.
Several factors influence the interest rate you will be offered, including your personal credit history, and RoadLoans financing costs. Interest rates can change any day, so apply today.
You can apply for a cash-back refinance through our regular RoadLoans application page. Simply select loan type “cash-back refinance” when you apply.

I am approved

RoadLoans only refinances auto loans that you have with other lenders, not including RoadLoans or its subsidiaries.
Several factors influence the interest rate you will be offered, including your personal credit history, and RoadLoans financing costs. Interest rates can change any day, so apply today.
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 pre-paid UPS shipping label.
Do not cross-out the mistake or use correction fluid as this will invalidate the contract. Please call as us (888) 276-7202 during business hours:
  • Monday through Thursday between 7:00 a.m. and 9:00 p.m. CST.
  • Fridays we are open until 7:00 p.m.
  • For your convenience, we are also open on Saturdays from 8:00 a.m. through 12:00 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 loans funds, you can pay online or sign up for our free auto-debit program. You can also pay by phone, Western Union, MoneyGram or check.
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 2 weeks from the day we receive your loan packet.