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Auto loan refinancing options

Best Places to Refinance Auto Loans  May 8, 2010 – 02:29 pm

You might not know it, but you can save quite a bit of money when you refinance auto loans. And there are numerous ways you can refinance the auto loan. As long as you follow through the entire process you can be sure to save on your monthly car payments. What would you say to a savings of $60 a month on your current car payment? That's $720 a year and $3600 over the course of a normal 5 year loan. Now we're talking about a large amount of cash!
So where do you refinance auto loans?
1) Your local bank.
Local banks can be a good place to refinance a car loan, especially when you already have a solid relationship with the bank. Check them out first, but don't just take the first offer you get. Take some time and do your own research into other possible refinancing options as well to get the best deal.
2) Your local credit union.
Credit unions often offer outstanding refinancing rates, especially for those with high credit scores. Just be aware that many credit unions won't work with those that have had past credit problems or issues with their credit rating.

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  • Avatar rajiv kBest way to refinance auto loan, St. Louis, MO?
    Mar 16, 2008 by rajiv k | Posted in Credit

    Hi, I want to know whats the best bank or credit union to refinance my auto loan. Currently I pay an interest rate of 13%. Which financier or credit union offers most guaranteedly a reasonable low interest rate auto refinance option for both good or bad credit score? I live in st. louis 63132.

    • If you think that you are paying a higher repayment amount for your existing car loan<!--then you can bring it down. With the help of refinance car loans, you can switch the loan plan with effective loanonline-auto-loan.org you think your lender is charging a higher interest rate on your car loans then you can look at the refinance car loans option. With the help of a refinance car loan, you can avail multiple …

  • Avatar Jeremy MHow do I remove the secondary person on my auto loan without refinancing?
    Jul 08, 2008 by Jeremy M | Posted in Credit

    What are my other options with bad credit?

    • You cannot remove them without refinancing the loan on your own, sorry.

  • Avatar CopperAuto refinancing (would it be the best option for me?)?
    Apr 05, 2009 by Copper | Posted in Personal Finance

    8 months ago, I purchased a car with a financing plan of ~$300/month for 24 months. However, I am losing hours at my job, and am having a hard time paying off a lot of debt. Would refinancing my auto loan be the best option considering interest rates are now near 0% and I can lower my monthly payments over a longer period of time?

    • Yes that makes sense if you can find some one to handle you loan but do not be shocked if your loan value on the car is less than the car is worth!!!