Refinancing can feel like a big decision—especially when you’re unsure how it might affect your payments, credit, or long-term savings. Many drivers find themselves torn between sticking with their current loan or exploring better terms as interest rates change. At Miller Subaru, our finance experts make Subaru financing simple to understand. Here’s everything you need to know about refinancing.
Is Refinancing Right for You?
Drivers choose to refinance for all sorts of reasons. Interest rates might be lower than when you initially got the loan, your credit score might’ve increased so you can get better terms, or maybe you just want to pay off your loan more aggressively. If you fall into these categories, getting a new auto loan with our Subaru financing professionals could be a great idea.
Keep in mind, though, that refinancing involves a new credit check. This means that your credit score will take a slight hit temporarily, though it will return to normal after you start making payments on the new loan.
Your Refinancing Preparation Checklist
You’ll want to do a few things before you begin the refinancing process:
- Identify what you want your new monthly payments to be.
- Budget for upfront refinancing expenses.
- Gather documentation like your insurance card, your most recent paystub, and proof of residence (e.g., a utility bill).
- Make sure your driver’s license is valid.
- Get pre-approved for your new loan with our online Subaru finance application.
Then, schedule an appointment or stop by our facility to meet with our team so we can start outlining your new loan.
Refinance with Our Subaru Financing Experts in Lumberton, NJ
The team at Miller Subaru are your partners in Subaru financing and service from the moment you drive away from our Lumberton, NJ, Subaru dealership in your favorite model. And we’re here to help you refinance your old loan. Visit us today to get started!
