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What to expect on a auto loan refinance inspection?
This is the first refinance or loan where the lender wanted to inspect the car. What can we expect? How long does it take? What do they look at? Does it cost anything? Who inspects the car? Does it matter how clean it is?
Basically we got a divorce and it is my ex husbands van. He still has boxes of stuff in it while he is going through the move. Will it matter if he doesn't detail the car, and has some stuff loaded in it?
4 Answers
- ?Lv 76 years ago
The financial institution will send an appeaser to inspect your vehicle. The inspection will not take any more than 10 minutes or so. They simply need to determine whether it is in proper working order and it's value is roughly equal to that of the current market value. Unless the vehicle has been inadequately serviced and maintained, or has been involved in collisions or accidents which were not repaired, you have absolutely nothing to worry about.
- AlCaponeLv 76 years ago
Not a big deal. However, the result of the inspection will tell the lender whether the car is worth the amount of the refinance request. If not, you'll need to make up the difference in cash.
- Anonymous6 years ago
probably just a quick lookover and test drive.
