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What is refinancing a car?

Woman with computer refinancing a car
  If you’re interested in managing the cost of your vehicle loan, auto refinance is one option you should look into.* Refinancing a car is the process of taking out a new loan to replace an existing note. The refinanced loan is a fresh contract, typically with another lender, that gives you the chance to agree to different terms. In many cases, the borrower will refinance to save money on interest or get a more comfortable monthly payment. Here are four common scenarios. Lower monthly payment – Refinancing can reduce the monthly payment as a result of a lower interest… Read More
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Category: Refinancing

How to pay off a car early and save money

Family traveling in car paid off early
    Think what you might do with no auto payments in your budget. Take more vacations, enjoy more evenings out or build up a savings pot for the future, perhaps. Whatever it is, pay off your car early and not only is that debt behind you, but you may have made a decent saving in interest charges, too.* There are several common approaches to paying off a vehicle early, which center on the following: more frequent payments regular extra payments an occasional large payment a combination of the above options refinancing Start by getting familiar with the details of… Read More
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Category: Financing, Refinancing

Should I refinance my car?

Man driving car with dog
  Many things can change over the course of an auto loan to make refinancing worth considering. A lot of times, borrowers want to save on their financing costs or find a more affordable payment, but they may also want to get cash out against the value of their vehicle, or change their loan for other reasons. Take a look at these common situations in which it can be worth replacing an auto loan with another that has new terms.   4 common situations for refinancing a car loan Your credit score has improved In most cases, credit score has… Read More
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Category: Refinancing

How to start the year with a lower car payment

Car next to dollar notes
Easy to make but not so easy to keep, about 80 percent of New Year’s resolutions fail by the second week of February, research tells us. So how can you maintain yours this year? If, like many, you’re aiming to spend less and save more, one option might be to apply for refinancing on your car. If approved for a lower monthly payment, and depending on terms such as APR, you’ve just received the green light to save cash every month for the duration of your loan – likely for the rest of the year and, perhaps, well beyond. As… Read More
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Category: Refinancing

How does refinancing a car work?

A fist full of dollars
Refinancing a car is the process of having your auto loan paid off and replaced with a new one, usually with a different lender, with new agreed-upon terms. There are various possible outcomes and, in many cases, it’s about saving money or otherwise finding a more affordable loan. Borrowers generally look for a lower monthly payment, reduced interest rate, different loan duration or a combination of these. Let’s look at each in more detail.     3 Potential outcomes of refinancing an auto loan   1. Lower monthly payment A lower payment could result from dropping the interest rate, extending… Read More
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Category: Refinancing

Can I get guaranteed auto refinancing?

Can I get guaranteed auto refinancing?
  There’s never a bad time to save money, and applying for auto refinancing is a great way to see if you can trim your expenses and enjoy a little extra cash in your budget each month. While it’s hard to say you can get guaranteed refinancing, as everyone’s situation is different, it’s certain there are auto lenders that accept applications from people with all types of credit. So even if you have bad credit,* perhaps the legacy of missed payments, even bankruptcy of repossession, you can still look to refinance your car loan for better terms. There’s a clue… Read More
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Category: Refinancing

How to find some of the best auto refinance rates

How to find some of the best auto refinance rates
When talking about the best auto refinance rates, what’s most suitable for one person may be different to what’s best for another. So finding some of the best auto refinance rates for you depends on your own financial circumstances and aims, and what you’ll qualify for. Where to start and what to look for Start off by reviewing your current auto loan details. These will include key pieces of information like loan balance, monthly payment and annual percentage rate (APR) which will act as reference points for potential refinanced car loans. Use an auto refinance calculator to experiment with what… Read More
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Category: Refinancing

How to Refinance Your Car

How to refinance
If you have a car loan that you are looking to refinance, consider asking RoadLoans for help. We work with a variety of credit situations and have assisted many people in coming up with a plan to help them save money on their car loan. To understand how simple this process can be, we have developed a complete step-by-step guide on how to refinance your car that is outlined below. † When considering whether or not to refinance a vehicle consider your options. 1. Start off by researching your current situation. Review the terms of your current loan agreement. Determine… Read More
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Category: Refinancing

Tax time and refinancing – the basics

Tax time
  Of the two certain things in life, only taxes can actually have an upside. Now, we're about to give you so much information about car refinancing, tax refunds and related information, that we're putting the necessary disclaimer legalese right up front for this blog post: DISCLAIMER: These statements are informational suggestions only and should not be construed as legal, accounting, or professional advice, nor are they intended as a substitute for legal or professional guidance. Please consult a tax professional. Now that that's out of the way, let's get to the good stuff. Related: Tax returns and auto loans… Read More
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Category: Refinancing

Refinance: what, why and when*

Refinance what why and when
  What is refinancing? If you're making payments on a vehicle, and the only thing about it that you don't like is the way the money pans out each month, you might have an option that is worth your time and attention: refinancing. Refinancing is like taking out a brand new loan to replace the existing loan that you are using to slowly-but-surely buy your vehicle. Just like the original loan, it requires you to complete an application process (ideally, a fast, instantly submitted, quickly processed online form), and have a credit check by the lender. Once approved to refinance,… Read More
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Category: Refinancing