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Refinancing a Car Loan Lahaina 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.

Easy Money Emg
(808) 667-1924
626 Wainee St
Lahaina, HI
 
Citifinancial
(808) 661-4813
2580 Kekaa Dr Ste C
Lahaina, HI
 
First Hawaiian Bank
(808) 669-5655
5095 Napilihau St Ste 103
Lahaina, HI
 
West Maui Gold & Loan
(808) 667-7689
1000 Limahana Pl Ste H
Lahaina, HI
 
Gateway Financial Services
(808) 242-5463
24 N Church St Ste 312
Wailuku, HI
 
Islandloans Com
(808) 662-4811
840 Wainee St Ste C3
Lahaina, HI
 
Primerica Financial Services
(808) 661-5770
930 Wainee St Ste 7
Lahaina, HI
 
Lahaina Mortgage Company
(808) 661-9500
2580 Kekaa Dr Ste K2
Lahaina, HI
 
Noble Mortgage Financing
(808) 249-8025
160 N Market St Ste D
Wailuku, HI
 
Amepnrse Financial Services Inc Alan H Kodama Senior Financial
(808) 242-9712
1498 Lower Main St Ste A3
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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