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 Central Pacific Bank? Congratulations! Central Pacific Bank currently only supports the refinancing of … Are Central Pacific Bank loans available through any car dealerships? No. Central Pacific Bank currently supports the refinancing of existing auto loan… Can I apply for a second auto loan with Central Pacific Bank? If you currently have an auto loan from Central Pacific Bank, in order to be elig… How will applying to refinance my loan affect my credit? Checking your rate with Central Pacific Bank will not affect your credit score. I… What is the range of interest rates offered on loans, and what is the difference between APR and interest rate? All Central Pacific Bank loans offer a fixed rate, but individual rates are deter… 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 Agreem… How are interest payments calculated? Central Pacific Bank uses simple interest to calculate interest payments. A speci… 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 cpbauto.… What fees am I charged? Fee Amount Frequency Description Late Payment Fee The greater of 5% of monthly pa… Are loans through the Central Pacific Bank fixed rate or variable rate? All loans through Central Pacific Bank have a fixed interest rate, which means it… What’s the difference between a co-borrower and a co-owner? Does Central Pacific Bank allow either? A co-borrower is someone who is jointly responsible for repaying your loan, while… What are the insurance coverage requirements to qualify? Central Pacific Bank requires a valid and current insurance policy. Applicants mu… Does Central Pacific Bank provide gap insurance? Central Pacific Bank does not offer this type of insurance. If you had GAP insura… Can I refinance a commercial vehicle? How about a vehicle used for commercial purposes? Central Pacific Bank does not support auto loan refinancing for commercial vehicl… 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, Central Pacific Bank will work to pay off you… How to Calculate Your Self Employed Income If you’re self-employed and you’d like to use your income from this job as the in…