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Most people today have auto loans to help them pay for a new car. However, over time, the terms and rates of a loan may no longer suit the car owner. This happens when a person's credit score and financial situation change. It is normal to try and refinance auto loans. Doing this could help a person lower everything from their monthly payments to the interest rates and duration or term of the loan. To refinance auto loans, one should shop around and see what different groups can offer. Negotiation is key. With time, great rates and terms can be found on refinance auto loans.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoAuto loans are extremely common in the United States. Whether the loan is for a new or used vehicle, auto loans can have a value of tens of thousands of dollars. While many people may not think about it, there is a large amount of interest that is paid out on many of these auto loans. Some individuals take out auto loans at extremely high interest rates, some as high as 10%!
Thankfully, there are a number of alternatives for individuals who have a 10% auto loan. Auto loan owners can often refinance auto loans through another bank or credit union that will have much lower rates. Some lenders offer auto loans as low as 4%! Also, individuals who may not qualify for the best rates due to their credit should attempt to be a co-signer under another individual such as a parent or spouse. Why pay ridiculously high interest on your auto loan? There simply is no reason to!
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Do dealerships handle auto refinancing loans?
Some dealerships do offer auto refinancing loans. It would be to your best interest to contact several different lenders about auto refinancing before settling on your dealership.
Where can one apply for auto refinancing loan?
One can apply for an auto refinancing loan at a bank or financial lending institution. One can also apply for auto refinancing loans at most car dealerships.
What are some companies in the US that specialize in refinancing car loans?
There are a huge range of car refinancing companies in the USA. Examples of these are Wells Fargo Financial, Capital One Auto and Bank of America Auto Refinancing.
Where can one find information on how to refinance auto loans?
When looking for information on how to refinance auto loans, the best place to get that information is from banks. Banks offer refinancing loans for homes and automobiles.
Does Wells Fargo Financial offer auto loans?
Wells Fargo Financial does offer auto loans. They have many options including used car loans, new car loans, and auto loan refinancing depending on your loan needs.
Where is it possible to get a loan for auto refinancing?
Loans for auto refinancing are available at banks and credit unions, depending upon an individual's credit rating, automobile that is being re-financed, and credit history.
Where can a person get a capital one auto loan?
Apply for new car loans, used car loans, and auto loan refinancing at the official site of Capital One, and use the auto loan calculator to estimate your payments.
What kind of services are provided by CitiFinancial Auto?
There are a couple of services that are provided by CitiFinancial Auto. Some of those services includes providing, financing and refinancing auto loans.
Where can one learn more about refinancing a car loan?
One is able to learn more about refinancing a car loan at several different online locations such as the following websites: Auto Trader, Federal Auto Loan, Capital Auto Loans, and Lending Tree.
Does Capital One Auto offer loans to refinance high interest rate car loans.?
Yes they do offer such loans. Refinancing can also lower your paynents dramatically.Research shows that it is very easy to apply for a loan to refinance your car with Capital One Auto.
Where can you find cash out refinancing?
Cash out refinancing can be found on Freddie Mac, Discover, Wells Fargo Auto Finance, US Bank, and Quicken Loans. However, one has to decide if the option is right for them.
Is auto refinancing expansive or not?
Auto refinancing is generally expansive since it basically allows you to get money out of an expensive car by taking out a second loan on the car (kind of like a reverse morgage. This makes it so that there are two loans, but it does seem to lower one's car payments substantially.
