Your Questions, Answered Honestly

While we work with a range of credit profiles at milecraftlending, you'll typically see the best rates with a score above 650. That said, we've helped people with scores in the 600s and even lower find better terms than what they currently have. The only way to know for sure is to check—it won't hurt your credit to get a quote.

Nope! When you get a rate quote from milecraftlending, we use a soft credit inquiry that doesn't impact your score. Only when you decide to move forward and formally apply will there be a hard inquiry, which is standard for any loan application.

Being upside down (owing more than your car is worth) makes refinancing trickier, but it's not always a dealbreaker. At milecraftlending, we evaluate each situation individually. Sometimes refinancing still makes sense to lower your interest rate, even if you can't change the loan amount much.

Yes, lenders need to verify you can afford the payments. At milecraftlending, we look at your debt-to-income ratio to ensure the loan fits comfortably in your budget. We accept various income sources including salary, self-employment income, and retirement benefits, so don't assume you won't qualify.

Our rates vary based on your credit profile, loan amount, and vehicle, but we consistently offer competitive rates that beat what most people are currently paying. Many customers save 2-5% on their interest rate, which translates to $50-150+ per month depending on loan size.

The average milecraftlending customer saves around $100 per month or $3,000+ over the life of their loan. Your exact savings depend on your current rate, loan balance, and new terms. Run the numbers with us—many people are surprised by how much they're overpaying right now.

We believe in transparency at milecraftlending. Some states charge a small title transfer fee, but we don't add junk fees or prepayment penalties. We'll show you all costs upfront so you can make an informed decision with no surprises down the road.

Absolutely! If you can afford slightly higher payments, milecraftlending can help you refinance to a shorter term with a lower rate, saving you even more in total interest. Or we can extend your term to lower monthly payments if cash flow is tight. It's all about what works for your situation.

Once you apply with milecraftlending, our team reviews your information and typically responds within hours. If approved, we'll send you loan documents to review and sign electronically. Then we'll pay off your existing lender directly and handle all the paperwork—you just keep making your new, lower payment.

Nope, we handle that for you! milecraftlending coordinates directly with your current lender to get payoff information and settle your old loan. You'll just need to provide your current loan details so we know who to contact. We make the transition seamless.

In most cases, yes. At milecraftlending, we can refinance loans from banks, credit unions, and other finance companies. The main requirement is that your vehicle meets our age and mileage guidelines, and you have sufficient equity or loan-to-value ratio.

Your first payment to milecraftlending is typically due 30-45 days after your loan funds. We'll give you the exact date in your loan documents. This often means you get a short break from payments while we process everything, giving your budget a little breathing room.