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When Does Auto Loan Refinance Make Sense?

Has the economy has taken a toll on your already tight budget and you're not sure how you can you stay on top of all the bills? Bad credit auto refinance is fast and simple, and can save you a substantial amount of money, but is it the right decision? How do you know when auto loan refinance makes sense?

Basic Requirements for Auto Loan Refinance

If you are currently paying installments on your vehicle, but are getting a little behind refinancing may be the right choice for you if you meet the following criteria:

  • Have two or more years left on the loan
  • The car is less than five years old
  • The vehicle has 70,000 miles or less

If you meet the above criterion then refinancing may be the way to go. By doing so, you have the ability to possibly lower your car payment or lower your interest rate. Fill out an auto loan refinance application today to see if you qualify.

Car Refinancing Benefits

Many people refinance for many different reasons, but the biggest one is to lower their car payment. You may be thinking, "I can lower my car payment with bad credit?" but the answer is yes, you can! This means, for example, if you have a loan that was originally for 36 months you can stretch the loan to 48 months. This will lower your monthly payment and may allow you some breathing room when it comes to paying your bills.

If you had bad credit when you were approved for your original loan you might not have gotten the loan at the terms you wanted. If you have made every payment on time, and in full, you may be able to refinance your loan for a lower interest rate.

If refinancing seems to be the best bet for you, submit your application today. Once we receive your information we will match you with a refinance lender in your area.

"My monthly payment went down by almost a hundred dollars per month, and applying was so easy!"

Jennifer H.

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Still Have Questions?

Still not sure if auto refinancing is right for you? Learm more about car loan refinancing in our section of Frequently Asked Questions.