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Refinancing a Car Loan Fremont 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.

AutoLoansInNebraska.com
(402) 318-7244
Lincoln, NE
 
First National Bank Northeast
(402) 654-3321
102 N Main St
Fremont, NE
 
Lead Safe Coalition of Omaha
(402) 451-3730
2505 N 24th St
Omaha, NE
 
Auto Pawn
(402) 390-2311
8825 Maple St
Omaha, NE
 
Platte Valley Companies
(308) 632-7506
1212 Circle Dr
Scottsbluff, NE
 
Mid-City Auto Loans
(402) 341-5466
515 S 15th St
Omaha, NE
 
Citifinancial
(402) 727-8811
1033 E 23rd St
Fremont, NE
 
First National Bank
(402) 866-4191
140 Broadway St
Sterling, NE
 
Tierone Bank
(402) 768-7228
320 Lincoln Ave
Hebron, NE
 
Beneficial Nebraska Inc
(402) 486-4545
5005 O St
Lincoln, 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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