Does Truist Refinance Auto Loans? | What To Know Before You Apply

Yes, Truist offers car-loan refinancing through a secured option in some states and through LightStream for an unsecured refinance.

If you’re paying a rate that feels stuck in the past, refinancing can reset your loan: new terms, new payment, same car. The catch is picking the right product and lining up your payoff so the switch goes smoothly.

This article breaks down Truist’s refinance options, the trade-offs between secured and unsecured loans, what usually blocks approvals, and a clear way to check whether a lower payment is truly a win.

Does Truist Refinance Auto Loans? Two Paths To A New Payment

Truist describes two refinance options: a secured auto refinance loan and an unsecured auto refinance loan offered through LightStream, a division of Truist. Which one you can use can depend on your state and how you want the loan set up.

Start with one question: do you want the car to back the loan? If yes, you’re in secured-loan territory. If no, you’re choosing an unsecured loan that leans more on your credit profile and income.

How The Secured Refinance Option Works

A secured refinance is the classic format. The lender places a lien on the title, and the loan is underwritten using your credit and income plus the vehicle details. Truist notes that the secured refinance loan is offered in some locations, so your state matters.

Truist’s auto loans page is the easiest place to confirm how Truist presents the secured versus LightStream routes. Truist auto loans overview states that refinance options can vary by location.

How The LightStream Unsecured Refinance Option Works

LightStream’s auto refinance loans are unsecured. Your vehicle is not collateral for that loan. The funds are used to pay off the current car loan, then you repay LightStream on the agreed schedule.

Because the car does not secure the debt, underwriting tends to be stricter on borrower strength. LightStream’s product page spells out current loan ranges and the credit tier they target. LightStream auto refinancing is where to verify current terms.

When Refinancing With Truist Can Be A Good Move

Refinancing tends to pay off when you have a clear reason and a clear math result. Common wins include:

• Your credit improved since you bought the car, so you may qualify for a lower rate.
• You want a different term to reshape the payment, ideally without inflating total interest.
• You’re switching loan types, such as moving from a secured structure to an unsecured one.

It’s easy to get pulled toward the monthly payment alone. The safer check is total cost over the time you expect to keep the loan.

Refinance Rules That Can Change Your Plan

Product rules can block common “what if” ideas. Truist states that LightStream refinance proceeds cannot be used for cash-out refinance and cannot be used to refinance an existing LightStream loan. That means you can’t refinance a LightStream loan with another LightStream loan. Those limits appear on Truist’s unsecured refinance page. Truist unsecured auto refinance details includes the disclosure language.

Truist also notes a timing rule for existing Truist secured auto loans: you need to make six contractual payments before refinancing that secured Truist loan. You’ll see that noted on Truist’s refinance page. Truist auto refinance options is a practical page to keep open while you plan your timing.

What Usually Stops A Refinance Approval

Denials and weak offers tend to come from a short list of issues. If you handle these before you apply, you dodge many avoidable delays.

• Loan balance mismatch with the product’s range.
• Credit stress like recent late payments, high card balances, or too many new accounts.
• Debt-to-income pressure where existing debts leave little room for another fixed payment.
• Vehicle or title friction that can matter more on secured loans, such as title status and lien details.
• Payoff details missing, which slows funding and can create due-date risk.

Secured Versus Unsecured: What Changes In Real Life

The difference is not just paperwork. It changes risk, flexibility, and what happens if life gets messy.

What You Give Up With A Secured Loan

With a secured refinance, the car is the collateral. If you stop paying, the lender has a direct claim on the vehicle. That’s standard for auto loans. It can help rates stay competitive, yet it also means title work, lien recording, and a tighter link between the loan and the car.

What You Give Up With An Unsecured Loan

With an unsecured refinance, you’re borrowing based on your credit profile and income without tying the car to the debt. That can feel cleaner on the title side. The trade-off is that approval can be harder, and rates can be less forgiving if your file is thin or you carry a lot of other debt.

Where People Get Tripped Up

Many refinance headaches come from timing, not underwriting. If the payoff arrives after your due date, you can end up paying an extra installment to keep the old loan current. Planning a cash buffer for one extra payment keeps your credit history clean while the payoff posts and the old account closes.

Comparing Truist Refinance Options Side By Side

Use this table as a fast filter. It’s not a rate quote. It’s a way to choose the lane that fits your paperwork comfort level and how you want the loan structured.

Decision Point	Secured Refinance Through Truist	Unsecured Refinance Through LightStream
Collateral	Vehicle backs the loan (lien on title)	No vehicle collateral
Where Offered	State-dependent	Online nationally; branch access in listed states
Main Underwriting Inputs	Credit + income + vehicle + title process	Credit + income focus, then payoff logistics
Vehicle Constraints	Often tied to title status and vehicle details	Less centered on the vehicle itself
Using Funds	Pay off an existing car loan	Pay off an existing car loan (no cash-out)
Refinancing A Truist Secured Loan	Six-payment waiting period noted by Truist	Not the same product path
Refinancing A LightStream Loan	Possible by switching lenders, subject to lender rules	Not allowed with LightStream proceeds
Fees And Prepayment	Confirm in your loan offer and state disclosures	LightStream states no fees and no prepayment penalties
Best Fit If You Want	A traditional car-loan structure	An unsecured loan tied to borrower strength

How To Tell If Refinancing Saves You Money

Do this check before you apply, then repeat it when you receive a real offer. It keeps the decision grounded.

Get A Payoff Quote And A Due Date

Request an official payoff quote from your current lender. It is time-bound and may include daily interest. Ask for payoff instructions (mailing address or wire details) and confirm your next due date.

Compare Remaining Cost Versus New Cost

Take your remaining payments and multiply by your current monthly payment. That gives a rough remaining out-of-pocket total. Then compare it to the total of payments on the new offer. If the new offer wins by a meaningful margin, refinancing is doing what you want.

If the new term is longer, the payment can drop while the total cost rises. If you still want the lower payment, pick the longer term and plan extra payments. Confirm your loan offer allows early payoff without a penalty.

Plan For Payoff Timing

Payoffs can take time to post. Keep enough cash to cover one more scheduled payment in case the payoff lands after your due date. Once the old lender posts the payoff, any overpayment is typically refunded.

What To Gather Before You Apply

Applications move fast until they hit missing info. Collect these items first so the process stays clean.

Loan And Vehicle Details

• Payoff quote and payoff instructions from your current lender
• Current loan account number
• VIN, year, make, model, and current mileage
• Title or registration showing the current lienholder
• Insurance declarations page

Borrower Details

• Address history and employment details
• Proof of income if requested
• Monthly housing payment and other installment debts

Refinance Readiness Checklist

This table keeps the application from turning into a scavenger hunt.

What To Gather	Where To Get It	What It Controls
Payoff quote	Your lender’s payoff department or portal	Exact amount needed to close the old loan
Payoff instructions	Same place as payoff quote	How the new lender sends funds
Current loan statement	Monthly statement PDF or app	Account number, due date, current payment
VIN and vehicle info	Registration or insurance documents	Vehicle identification for secured loans
Title or registration lienholder line	State registration paperwork	Where the payoff release must be recorded
Insurance declarations page	Your insurer portal	Coverage proof and lienholder updates
Income proof	Pay stubs or benefit letters	Ability to repay under underwriting
Housing payment info	Lease or mortgage statement	Debt-to-income calculation

What The Refinance Process Looks Like From Start To Finish

Once you’re ready, the workflow is straightforward.

1. Check availability and product fit. Decide secured versus unsecured based on your state, credit profile, and whether you want the car tied to the loan.
2. Apply and review the offer. Read the term length, total of payments, due date, and any fees in the disclosures.
3. Confirm payoff handling. Make sure the lender has the correct payoff instructions and your lender’s account number.
4. Track the old loan to “paid in full.” Watch your old account until it closes, and follow up if the title release timeline looks slow.

After the old loan closes, set up autopay on the new loan and keep your documents in one folder. If you later sell the car, those payoff records save time.