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Refinancing a Car Loan Fort Campbell KY

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.

AutoLoansInKentucky.Com
Frankfort, KY
 
the car store
(812) 987-4041
6801 preston hwy
louisville, KY
 
World Finance Corp
(270) 360-0106
1805 N Dixie Hwy Ste 1
Elizabethtown, KY
 
Worldwide Consumer Credit
(859) 266-9400
151A N Mount Tabor Rd
Lexington, KY
 
Advance America Cash Advance
(859) 881-8032
931 N Main St
Nicholasville, KY
 
Signature Motors
(270) 678-5700
1419 happy Valley Rd.
Glasgow, KY
 
Bank of America
(931) 431-4280
201 Bastogne Ave
Fort Campbell, KY
 
Hometown Cash Advance
(502) 810-0316
5014 Preston Hwy
Louisville, KY
 
Bank of Cumberland
(270) 864-3311
129 N Main St
Burkesville, KY
 
South Central Bank Fsb
(270) 763-6600
2908 Ring Rd
Elizabethtown, KY
 

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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