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Refinancing a Car Loan Kapaa HI

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.

AutoLoansInHawaii.com
(808) 756-9311
Hilo, HI
 
CitiFinancial
(808) 625-0422
95-1249 Meheula Pkwy Ste 124
Mililani, HI
 
Allstate Insurance Company - Daniel Dennis
(808) 626-2788
95-1095 Ainamakua Dr
Mililani, HI
 
Hawaiiusa Federal Credit Union
(808) 625-5999
Mililani Shopping Ctr
Mililani, HI
 
C S D Financial Services
(808) 488-3918
98-025 Hekaha St Ste 4
Aiea, HI
 
Budget Pros Inc
(808) 674-8767
91-1004 Kanihaalilo St
Kapolei, HI
 
Wells Fargo Financial
(808) 455-5234
719 Kamehameha Hwy Ste C300
Pearl City, HI
 
CitiFinancial
(808) 261-0826
116 Hekili St Ste 104
Kailua, HI
 
Cash Advantedge
(808) 696-7368
86-078 Farrington Hwy
Waianae, HI
 
Bernstein Financial Services Inc
(808) 242-1965
2200 Main St Ste 502
Wailuku, HI
 

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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