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 the interest rate, payment amount, duration, requirements for early loan termination and any origination fees required.
2. Make sure you obtain a copy of your current credit score. If it has changed since you applied for your current loan, consider how it may affect a possible refinance. Also consider current debt. See what your current loan debt is, what you are going to owe and how you are planning to pay it off.
3. Research current loan options for yourself. Using your current loan to compare, research different options for a loan refinance to see if it can help you save money, especially in the long run. RoadLoans offers cash-back refinancing and traditional refinancing. Try using the auto refinance calculator at RoadLoans.com to help estimate potential savings.
4. If your research suggests some savings could be realized, fill out an application online at com. It is free and you can apply online in just minutes. You will receive a decision within seconds, and if approved, you can move on with your loan approval in hand.
5. If approved for refinancing, the last thing for you to do is to complete and submit some paperwork. Just download the documents you receive, print them out, sign them and send them back to RoadLoans for processing. At that point, your work will essentially be complete as we take over the balance of the process. This includes working with your current lender to complete the loan transfer and pay off your existing car loan.
We hope these few simple steps can help you learn how to refinance your car. Done right, you might possibly save a significant sum of money on your car loan. We are more than willing to help you refinance your loan.
† These statements are merely 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.
RoadLoans is not a credit counseling service and makes no representations about the responsible use of or restoration of consumer credit.Written by: