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Refinancing a Car Loan West Bend WI

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.

Wisconsin Auto Finance
(262) 432-3308
11414 W. Park Place
Milwaukee, WI
 
Wisconsin Auto Finance
(262) 432-3308
11414 W. Park Place
Milwaukee, WI
 
Wisconsin Auto Title Loans
(608) 245-9225
3059 E Washington Ave
Madison, WI
 
Advance Paychecks
(262) 335-3661
2320 W Washington St
West Bend, WI
 
Ozaukee Bank
(262) 338-8500
1755 W Paradise Dr
West Bend, WI
 
AutoLoansInWisconsin.com
(608) 514-1500
Madison, WI
 
thomas
(608) 782-0841
401 gillette street
la crosse, WI
 
New Start Auto Loans - Bad Credit Auto Loans
(000) 000-0000
Lincoln Ave
Milwaukee, WI
 
Pls Payday Loan Store
(262) 334-2300
1080 Gateway Ct
West Bend, WI
 
Options Home Lending Inc
(262) 338-5881
303 N Main St
West Bend, WI
 

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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