Sometimes, life happens and your credit suffers because of it. If you are unsure about your credit and are concerned about whether you will be approved, contact Argent to speak to a representative. We’re here to help you navigate the loan application process.

Yes. We will help you join during the application process.

Membership eligibility is open to individuals living, working, attending school, worshiping or volunteering in the following counties:

• Chesterfield
• Henrico
• Hanover
• The city of Richmond

Membership is also available to family members or housemates who meet the above criteria. To be eligible, members must also be at least 18 years of age and be a U.S. citizen or resident alien.

Refinancing your auto loan may improve your situation in a number of ways:

• Your payments are too high and you want to extend your loan term to reduce your monthly payments.
• You have increased income and you want to shorten your loan term to pay your loan off faster and save on interest.
• You have a lump sum of cash you want to use as a down payment on your new loan so you can lower the amount financed, get a lower rate, and pay your loan off sooner.
• Your credit score has improved (or market rates have dropped) so you want to refinance to get a better annual percentage rate (APR) on your auto loan and save money.
• You don’t like your existing auto loan lender and want to build a relationship with another financial institution and enjoy other products and services on offer.

When you refinance a loan, you’re taking out a new loan to replace your original loan, so you need to complete the auto loan application process again. Your new lender will look at your credit report and payment history, income, vehicle age and model, and loan balance to decide if you’re eligible for a refinance.

• You may choose to get pre-approved with multiple lenders and find out your likely loan amount and auto loan rate.
• You can also find out if there’s a minimum loan amount (or maximum), or a prepayment penalty.
• Make sure you know what your car is worth in the current market so you know you’re getting a good deal.
• Your potential lenders will each run a hard credit check – but multiple applications for the same product in a short time only count as a single credit inquiry so your score dips just once.
• Your credit will bounce back once you’ve established a good payment record on your new loan.
• If you prefer, you can get prequalified (instead of pre-approved) and this may involve a soft credit pull only and not hurt your credit. Prequalification gives you estimated loan amounts and rates only.

Once your refinance application is successful, your new lender will transfer the funds or write you a check to pay off your existing vehicle loan in full. You then start making payments on the new auto loan.