Refinance Your Current Loan:
First off, refinancing your current loan. Lets face it, not many of us got out of the late 2000's without some kind of financial dent, scratch, ding or mark. Bankruptcy, forced mortgage re-financing, foreclosure, missed payments and more. Almost EVERYONE's credit took a hit all the way up until just recently. Many people still needed a new car, and unfortunately those "credit bruises" may have made your car loan interest rate go crazy. Banks were tight with their financing and MANY people had to take interest rates that turned their stomach. Does this sound familiar? Well the good news is that if you have been making on time payments, there is a great chance that we can refinance YOUR current loan for a shorter term and a lower rate.
Just like a home mortgage, as your credit score increases and you create more credit history, you may qualify for better terms on the loan. In some cases, you can refinance your current loan at the current length for a large reduction in your interest rate. Most people don’t even think about re-financing their vehicle or realize that they can do it. What that amounts to is throwing your hard earned money right out the window. Refinancing your loan can reduce the payment on your vehicle and save you money and increase your monthly cash flow. If you stay at the same loan length, reduce the interest rate and continue to make the same payment, you can even pay off your loan early and create some great positive equity in your vehicle.