Refinance Your Vehicle and Lower Your PaymentsAuto Loans Coquitlam
Lower Your Monthly Payments with Auto Refinancing
Car loan refinancing allows you to reduce your monthly payment, lower the amount of interest rate paid, or a combination of both. With MrFinanceBC.com you can start the process with our quick online application. Its a common mistake to believe a loan’s first terms were set in stone at signing. But even if you’re applying with less than perfect credit today, you may still be able to reduce your interest rate and monthly payments by refinancing your automobile.
Customers Refinance Their Car Loans for 3 Reasons:
- Lower Their Monthly Loan Payment
- Save in Total Interest Paid Over the Life of the Loan
- A Combination of the Above Two
Car Loan Refinance Example
Your current payment for a $30,000 auto loan at 13% interest is $602.22 a month for 72 months. After 36 payments, you’ve paid $17,873. After refinancing your loan to a new, 72-month loan at 13% interest, your monthly payments are reduced to $358.78 a month. Your refinanced loan saves you $243.44 per month!
Start Your Easy 3-Step Auto Loan Refinance Application Today!
Frequently Asked Questions:
Auto refinancing is ideal for purchases made in the last 48 months.
Refinancing car loans when your balance is over $10,000 will yield the best savings. If your current loan is less than $10,000, many lenders will not consider a refinance offer although in some cases there are loans issued for under $10,000 Car loans.
The longer you plan to keep your car, the more benefits you will receive from a refinanced car loan.
By terms, we are referring to interest rate, remaining balance, total payoff amount, your monthly statement, etc. It’s important to know the details of your current car loan so you can compare them to a refinanced loan offer.
As long as you have been paying your current car loan and other payments on time, changes are very good you will be approved. At MrFinanceBC.com we specialize in all credit situations, from bad credit to stronger credit profiles, so don’t hesitate to apply today!
If your car has less than 160,000 Kilometers on it and is no older than 8 model years, you’re likely to qualify for a loan with MrFinanceBC.com. You’re less likely to be approved if you are trying to refinance a specialty collectable or exotic car, any heavy duty truck, a commercial vehicle or a damaged automobile.