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Refinancing a Car Loan Searcy AR

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.

AutoLoansInArkansas.Com
Little Rock, AR
 
Production Credit Assn
(501) 268-3524
2620 S Main St
Searcy, AR
 
First American Cash Advance
(501) 368-0188
3511 E Race Ave
Searcy, AR
 
Wells Fargo Home Mortgage
(501) 303-1907
7307 Alcoa Rd Ste 206
Bryant, AR
 
First National Bank
(870) 867-4949
Bobs Food City
Mount Ida, AR
 
Thrifty Car Sales
(479) 636-5050
1810 So 8Th Street (Hwy 71B)
Rogers, AR
 
Agheritage Farm Credit Services
(501) 268-3524
2620 S Main St
Searcy, AR
 
Regions Bank
(870) 735-8860
801 Commerce
West Memphis, AR
 
Malvern National Bank
(501) 760-6600
1010 Airport Rd
Hot Springs National Park, AR
 
B & H Pawn Shop
(501) 753-2774
3717 Mac Arthur Dr
North Little Rock, AR
 

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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