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Refinancing a Car Loan Wailuku 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.

Gateway Financial Services
(808) 242-5463
24 N Church St Ste 312
Wailuku, HI
 
Amepnrse Financial Services Inc Alan H Kodama Senior Financial
(808) 242-9712
1498 Lower Main St Ste A3
Wailuku, HI
 
American Express
(808) 585-3200
677 Ala Moana Ste 100
Wailuku, HI
 
American General Financial Services Of Hawaii Inc
(808) 871-4888
250 Alamaha St Ste N15
Kahului, HI
 
Easy Money Emg
(808) 667-1924
626 Wainee St
Lahaina, HI
 
Maui Finance Co
(808) 244-9143
140 N Market St Ste 201
Wailuku, HI
 
Noble Mortgage Financing
(808) 249-8025
160 N Market St Ste D
Wailuku, HI
 
Bernstein Financial Services Inc
(808) 242-1965
2200 Main St Ste 502
Wailuku, HI
 
First Hawaiian Bank
(808) 572-7238
67 Makawao Ave
Makawao, HI
 
Creative Financial
(808) 891-9292
320 Ohukai Rd Ste 413
Kihei, 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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