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Refinancing a Car Loan Kapolei 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.

Citifinancial
(808) 689-8885
91-1001 Kaimalie St
Ewa Beach, HI
 
Hickam Federal Credit Union
(808) 423-1391
590 Farrington Hwy Unit 501
Kapolei, HI
 
West Oahu Community Federal Credit Union
(808) 682-4511
Shangrila St Bldg 1867
Kapolei, HI
 
American General Finance
(808) 671-5664
94-1040 Waipio Uka St Ste 7
Waipahu, HI
 
Hawaii Check Cashing
(808) 456-8011
897 Kamehameha Hwy Ste 101
Pearl City, HI
 
Kahi Mohala Behavioral Healthcare
(808) 677-7600
91-2301 Fort Weaver Rd
Ewa Beach, HI
 
Budget Pros Inc
(808) 674-8767
91-1004 Kanihaalilo St
Kapolei, HI
 
Honolulu Federal Credit Union
(808) 687-8565
1001 Kamokila Blvd Ste 104
Kapolei, HI
 
Waipahu Town Center
(808) 677-0606
94-366 Pupupani St
Waipahu, HI
 
Cash In Advance
(808) 454-8700
880 Kamehameha Hwy Ste 2
Pearl City, 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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