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Support Home Applying to Refinance Your Auto Loan I’ve found the vehicle I want to buy. Can I apply for a direct auto loan with Bank of Denver? Congratulations! Bank of Denver currently only supports the refinancing of exis… Are Bank of Denver loans available through any car dealerships? No. Bank of Denver currently supports the refinancing of existing auto loans on… How will applying to refinance my loan affect my credit? Checking your rate with Bank of Denver will not affect your credit score. If you … What is the range of interest rates offered on loans, and what is the difference between APR and interest rate? All Bank of Denver loans offer a fixed rate, but individual rates are determined … Can I change my loan application after submitting it? You will not be able to edit your application once it is submitted. Please verify… What must I agree to in order to receive a loan? In order to refinance your loan, you must agree to the Borrower Platform Agreeme… How are interest payments calculated? Bank of Denver uses simple interest to calculate interest payments. A specific in… How do I apply to refinance my auto loan? Please complete the brief online application, which will include information abou… What is the difference between a soft and hard credit inquiry? There are two kinds of inquiries (or pulls) that can occur on your credit report:… Can I negotiate the rate or my loan terms? No, you cannot negotiate the loan terms or rate. Your rate is generated by our mo… Why do you need my social security number? We must collect and verify your personal information, including your date of birt… Can you withdraw or delete my application? If you wish to withdraw from the application process, please email us at bodauto.… What fees am I charged? Fee Amount Frequency Description Late Payment Fee The greater of 5% of monthly pa… Are loans through Bank of Denver fixed rate or variable rate? All loans through Bank of Denver have a fixed interest rate, which means it won't… What’s the difference between a co-borrower and a co-owner? Does Bank of Denver allow either? A co-borrower is someone who is jointly responsible for repaying your loan, while… What are the insurance coverage requirements to qualify? Bank of Denver requires a valid and current insurance policy. Applicants must hav… Does Bank of Denver provide gap insurance? Bank of Denver does not offer this type of insurance. If you had GAP insurance on… Can I refinance a commercial vehicle? How about a vehicle used for commercial purposes? Bank of Denver does not support auto loan refinancing for commercial vehicles. Ba… Can I get cash out when I refinance? No, you may refinance your auto loan to lower your monthly payment or reduce the … What do I need to do after my application is approved? After your application is approved, Bank of Denver will work to pay off your prio…