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Refinancing a Car Loan Bellevue NE

There are only two ways that refinancing a car loan can lower your monthly payments: 1) by lowering interest rate, and 2) by extending the payoff schedule, or both. Refinancing can reduce your car payments if there is a difference between your old interest rate and the rate that you might get now.

Mid-City Auto Loans
(402) 341-5466
515 S 15th St
Omaha, NE
 
Mid-City Auto Loans
(402) 341-5466
515 S 15th St
Omaha, NE
 
Ace Cash Express
(402) 291-1459
701 Galvin Rd S Ste 116
Bellevue, NE
 
American National Bank
(402) 291-7500
1314 Galvin Rd S
Bellevue, NE
 
Advance America Cash Advance
(402) 292-5700
1103 Galvin Rd S Ste E
Bellevue, NE
 
AutoLoansInNebraska.com
(402) 318-7244
Lincoln, NE
 
Commercial State Bank
(402) 291-1355
1503 Galvin Rd S
Bellevue, NE
 
Lending Resources
(402) 334-5772
1811 Hillcrest Dr
Bellevue, NE
 
Red D Cash
(402) 734-1642
7613 S 36th St
Bellevue, NE
 
Check 'n Go
(402) 292-2333
1602 Galvin Rd S
Bellevue, NE
 

Refinancing a Car Loan

Refinancing an auto loan can be a good way to reduce monthly payments. However, it often doesn't bring the benefits that borrowers expect. Let's take a look.

How refinancing works
A car refinance loan is no different than any other used-car loan. You determine the payoff balance on your old loan, arrange for a new loan, pay off the old loan, and begin your new loan. The new loan replaces the old.

A refinance loan does not have to come from the same loan company as the old loan.

It is possible that your auto loan company will be willing to modify the terms of your existing loan if you are in serious financial difficulty and need to lower your payments. This is unusual and should not be your only plan. Contact your bank or loan company to find out if this is possible in your case.

There are only two ways that refinancing a car loan can lower your monthly payments: 1) by lowering interest rate, and 2) by extending the payoff schedule, or both.

Will refinancing really help?
First make sure your refinancing expectations are realistic. What are your car loan payments now? How much do you want to lower your payments? Are you willing to extend your loan for a couple more years?

Refinancing can reduce your car payments if there is a difference between your old interest rate and the rate that you might get now. The benefit is greatest if your old interest rate is very high – possibly because your credit score was low at the time, or ...

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