Memorial Day Auto Refinance Loans

As Memorial Day 2013 quickly approaches us many dealers and lenders are offering deals on financing and lessening their requirements. The same goes for your local auto refi lenders as well. If you're not ready to buy a new vehicle quite yet, but think that you're paying too much on your current one you may be eligible for an auto refinance.

What Is Auto Refinancing?

An auto refinance is a loan to pay off your current car loan, much like a mortgage refinance, but with a faster and simpler process. Typically you will need to find a new lender to get a refinance loan, as your current lender will lose money on lowering your interest rate.

Which brings us to the point that refinancing your car loan can help you save a lot of money this holiday. If you're current loan was obtained with a poor credit score and you have kept up on the note every month then your current score should reflect that and allow lenders to feel comfortable offering you a lower interest rate. This will save you money on your monthly payments and the overall cost of the car note.

You can also lower your monthly payment by extending the loan term. This is not generally recommended if you are already upside-down on the loan, but if you're just looking to free some extra cash up quick it can help. You can also extend the term for a just in case of an emergency measure, but keep paying your current monthly payment which is pay the loan off quicker.

Online Auto Refinance Loans

If you're thinking an auto refinance loan may be for you this Memorial Day you can apply online today. Our free and secure online application only takes two minutes and you could be on your way to saving money with one of our network of refi lenders in a matter of days.