How to Refinance an ATV
- 1). Contact your lender and ask for your loan's payoff amount. Ask your lender if you'll incur a prepayment penalty fee for paying off the ATV loan early. If so, you can pay the fee separately or roll the charge into your new loan.
- 2). Research ATV loan interest rates. ATV loans are the same as motorcycle loans; both are classified in the same category for lending purposes. Call lenders to discuss term options and rates.
- 3). Apply to your lender of choice. Provide your ATV identification number, mileage and features. Give a lending representative your credit information, which is the same information you supplied when you initiated your original loan, including Social Security number and income.
- 4). Discuss your monthly payments, down payment requirement (if applicable) and interest rate once approved. If the terms are affordable, sign your loan contract with the new lender. Your new lender will pay off your old ATV loan.
