Auto Leasing Guide
Go to LeaseGuide.com now !

Refinancing a Car Loan Papillion 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.

Mid-City Auto Loans
(402) 341-5466
515 S 15th St
Omaha, NE
 
Mid-City Auto Loans
(402) 341-5466
515 S 15th St
Omaha, NE
 
American National Bank
(402) 339-3935
1413 S Washington St
Papillion, NE
 
Hometown Cash Advance
(308) 534-3020
905 N Jeffers St
North Platte, NE
 
Teambank Na
(402) 291-2000
1902 Harlan Dr
Bellevue, NE
 
AutoLoansInNebraska.com
(402) 318-7244
Lincoln, NE
 
Ez Payday Advance Store #49013
(402) 291-2900
2903 Samson Way
Papillion, NE
 
Charter West National Bank
(402) 371-2648
3409 Golf View Dr
Norfolk, NE
 
First State Bank
(402) 438-7676
4700 N 27th St
Lincoln, NE
 
Tierone Bank
(308) 384-4433
1811 W 2nd St
Grand Island, 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 ...

Click here to read the rest of this article from Lease Guide