In order to add or remove a signer, or to refinance an Indirect Auto Loan, a client is essentially creating a new loan.
When an existing Indirect Loan client calls the Client Service Center to alter the signers or to refinance their loan; follow the steps below:
- Advise the client that altering the terms of the loan results in the creation of a new loan.
- Tell the client we can give GENERAL information regarding the loan but cannot provide them with any rate information.
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Direct the client to ccbg.com, to fill out a new auto loan application.
- If all the client’s information on their Client Identification File (CIF) matches, they can select I am an existing client when they begin their new loan.
- If it does not match, update the client's CIF with the correct information. They will need to wait to fill out the loan, or bypass selecting I am an existing client.
Note: If the client needs to know the value of their current vehicle in order to apply, please refer them to an online search through Kelly Blue Book (kbb.com) or other equivalent sites.
By filling out the new application, the client will be provided an accurate interest rate and the new loan can be created without the process of having a lender call them.
The client may have reservations regarding the new, estimated interest rate potentially being higher than their original interest rate. If they own their home, an alternative to a new auto loan is to suggest they apply for a Home Equity Line of Credit (HELOC).
- A HELOC is a line of credit that is based off of the equity owned in the home.
- The owned equity could provide the client with enough to pay off the existing car loan at a lower interest rate.
If the loan is a true Consumer INDIRECT TO DIRECT (through refinancing or name change) and we cannot answer something, ask the client if they have worked with a lender previously.
- If they have worked with a lender in the past, connect them with that lender.
- If they have not worked with a lender in the past, email Digital Lending and Loan Support with questions.
If the loan in question is a business loan, email the loan officer on file to request they contact the client.