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Refinancing a Car Loan Natchitoches LA

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.

Crescent Bank Trust
(800) 264-4381
1000 Veterans Blvd Suite 100
Metairie, LA
 
Alpha Automobile Sales, LLC
(337) 988-1960
6904 Johnston Street
Lafayette, LA
 
home health2000
(smi) tty-1000
blvd ave
lake charles, LA
 
Allied Cash Advance
(318) 352-2420
929 Keyser Ave
Natchitoches, LA
 
National Loan Llc
(318) 352-4494
314 Keyser Ave
Natchitoches, LA
 
AutoLoansInLouisiana.Com
Baton Rouge, LA
 
American Auto Finance
(337) 988-1960
6904 Johnston Street
Lafayette, LA
 
Mutual Credit Plan Corporation
(318) 352-6775
320 South Dr
Natchitoches, LA
 
Union Financial
(318) 352-0900
1240 Washington St
Natchitoches, LA
 
Allied Cash Advance
(318) 352-2412
929 Keyser Ave
Natchitoches, LA
 

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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