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Refinancing a Car Loan Hastings 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
 
Tierone Bank
(402) 463-1391
700 S Burlington Ave
Hastings, NE
 
Hastings Pawn Shop
(402) 462-8181
814 W 2nd St
Hastings, NE
 
Wells Fargo Bank Na
(308) 234-1818
21 W 21st St
Kearney, NE
 
Farmers Bank
(402) 786-2462
5500 N 148
Waverly, NE
 
Mid-City Auto Loans
(402) 341-5466
515 S 15th St
Omaha, NE
 
Union Bank Ag Loan Production
(402) 463-8583
2727 W 2nd St
Hastings, NE
 
Home Federal Savings & Loan of Nebraska
(402) 462-2175
715 W 4th St
Hastings, NE
 
Wells Fargo Financial
(402) 493-4750
3101 N 108th St
Omaha, NE
 
Midwest Bank
(402) 371-5200
2501 W Benjamin Ave
Norfolk, 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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