Auto Loan Refinancing Made Easy
If you are looking for the best auto loan refinancing options, look no further. At Life House Financial we can help you find the car refinancing best fit for your individual situation. As a leader in all personal loans currently available, we can provide you with direct access to banks, credit unions and other private auto loan providers offering better rates and terms. Our auto loan refinancing lenders offer programs that fit all credit situations, and all loan request sizes.
When refinancing your automobile, you'll have two options to consider. You can simply refinance your car to a lower rate with the same or extended term, or you can obtain a cash-out refinance. The amount of money you can take-out will depend on the amount of equity you currently have in your vehicle. The maximum loan term and approval amount will heavily depend on the age and value of the car you wish to refinance.
When searching for auto loan refinancing, there is no reason to spend your valuable time shopping around from bank to bank in the hope you will find the best loan, especially when our company can provide all the assistance and information you need for free. We know what it takes to ensure your loan request is approved in the safest and fastest manner possible. If you are in search of an auto loan lender that can help you refinance your existing car note into something with a lower payment and interest rate, submit your information today. Our experts are standing by excited to help you with your auto refinancing needs.
Auto Refinance Loan Vs. Cash-Out Refinance
A Traditional Auto Loan Refinance
Refinancing your auto loan is the easiest way to lower your monthly payment. Depending on your situation, the money you can save may be as much as a few thousands dollars per year. In a traditional auto loan refinance, a lender will payoff an older higher interest-rate loan with a new low interest-rate auto loan featuring an extended term. It is this lower rate of interest and longer payback term that can offer you a significantly lower monthly payment. Auto refinancing loan terms range from one to five years, depending on the age of your vehicle.
Cash-Out Auto Loan Refinance
Cash-out refinancing is similar to traditional refinancing, as it will lower your interest-rate and perhaps your monthly payment. However if your car has built-up equity, this loan type will also allow you to tap that equity for cash. Equity is the difference between the car’s value or potential sale price, and the current loan amount owed on the car. The amount of money you can obtain will depend on the value and age of your automobile. If granted, this lump-sum cash payment can be used for any purpose, such as debt consolidation and paying regular bills.
Applying For Car Loan Refinancing
Applying for auto loan refinancing is an easy process. In most cases you should be able to receive a decision within twenty-four hours after applying. Below are a few things you will need to have before applying to an auto loan lender.
1. The current lien holder's name and the outstanding auto loan balance.
2. The make, model, style and current millage of your vehicle. A lender may also be able to look this information up based on the car’s VIN number.
3. Income verification and work history.
4. Proof of insurance on the vehicle.
The application process only takes a few minutes to complete. After applying, the lender will need to pull a recent copy of your credit report and may require you to show a few paycheck stubs to verify your income. The higher your credit score, the better rate and terms you will receive.
If you don't know your scores from the 3 major credit-reporting agencies TransUnion, Equifax and Experian, you can access them by clicking here
Depending on the loan type you are requesting, the lender may need to inspect the vehicle. The lender will also use the current value of your vehicle to determine how much they can approve.
If you don’t know the current value of your vehicle, you can look-up your car’s value online at Kelley Blue Book.
Auto Loans Through Life House Financial
If you are interested in seeing if you can qualify for an auto refinance loan, give us a call. In just a few minutes we can help you understand your options. No matter what your situation, good credit, bad credit, or no credit, Life House Financial can help you compare your auto loan refinancing options side by side to ensure you get the best rates and terms possible. Our services are free and come with no obligation to proceed if you are not completely satisfied with the end results. To get started, tell us about your refinancing needs using the big orange button below.
Our expertly trained loan and credit representatives are standing by, Monday through Saturday, ready to discuss all auto loan options you have to consider at no cost or obligation whatsoever. Give us a call today at 1-888-952-7280, or submit your information online through our safe and secure online form now!