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What Is The Lowest Auto Loan Refinance Company Out There?

Jul 21, 2008 by rita s | Posted in Buying & Selling

I am trying to refinance my Mazda car and currently, I am making a payment of $300 a month. What company has the lowest auto loan refinance interest rate? Needs to be available to Florida residents and it does not matter if it is an online company only. Thank you.

Sorry, you posted this twice, so I'm answering twice. I want to be sure that people down the road get the right information.

There is no one lender with the "lowest rates." We have many lenders that, depending on the situation, have the "lower" rate than the others. It just depends on your car and your finances.

Please note that Florida is enforcing a law that will make you pay sales taxes on your car again if you are refinancing to remove or add someone onto the loan (co-signer). Please just be aware of that as you are moving through the process.

I would start with a local credit union, but really, any one of the major auto refinance brokers are going to be talking to the same financers.

Is it possible to negotiate an lower interest rate for an auto loan or should I refinance my auto loan?

Nov 28, 2008 by Faith B | Posted in Credit

Has anyone done this before? What is the process?

If you have an excellent history with your current lender, you can ask them if they would refi to a lower rate. Let them know that you have an offer for (what ever rate you are trying to obtain) but that you would like to remain with them. If they say know, start shopping for a better rate with another lender.

I've found some good information here too...

http://auto.deal4-you.com

Hope that helps.

Best way to refinance auto loan, St. Louis, MO?

Mar 17, 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 loan management.

http://best-loans.awardspace.com/refinance-car-loan-bad-credit.htm

If 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 benefits. Firstly, you may reduce-->your monthly costs. Secondly, you may avail a competitive interest rate. Thirdly, you could be getting a flexible repayment period. Overall, you will be managing your loan a lot better.

How can I lower auto loan interest rate without refinancing?

Dec 02, 2008 by vintageohana | Posted in Credit

It shows that the minimum payoff amount in order to refinance a car is $7500 in California. Currently we owe $6800 some odd dollars on the car. We have 34 months left but the APR is at 19% because at the time we got it a little over 2 years ago, our credit was pretty bad. Our credit has recently improved. We don't qualify for auto refinancing apparently even though we've paid on time every month for over 2 years. The only reason we can't apply is because we owe too little!

Is there a way we can work around this? Should we ask our current auto lender for a lower interest rate or should we refinance, saying we owe $7500, and then get back the remainder? I don't know how this works.

Thanks
Also, the car is worth more than we owe. Just wanted to state that. We just want to get the interest rate lowered and hopefully cut down the monthly payment.
Our payoff amount to our lender is $6800 but we cannot refinance our car because the minimum to refinance is $7500. We looked everywhere and it says you have to owe at least $7500 in order for them to do a loan for you. We do not owe enough money to our lender.

Auto finance is what I do for a living and if everything is as you say the answer is to refinance $7,500.00 for 30-months at a lower rate and have them cut you a check back for $700.00.

We do this all the time at my dealership.

Additional details.

I don't know who your lender is but every lender I have bases the amount they will loan on the value of the vehicle not the payoff and since you say yours is worth more then the payoff this should not be a problem.

If this is actually what your encountering you need to find another lender.

am i better off refinancing my auto loan or taking a lower interest rate loan and paying the car off with that

Jul 30, 2007 by halloweenbaby10311972 | Posted in Buying & Selling

we got a used auto and financed through the dealership and the interest rate is extremely high. Should i refinance this loan or take a loan from my bank with a lower interest rate and pay off my vehicle and just pay the bank back.

Auto loans are difficult to refinance because you will almost never have equity in a car. If you are one of those luck people that has a car that is worth more than what you owe, it can be done but keep in mind you will pay some fees which may be more than what you would save in the long run. If you have equity in your house (if you own one) you could take out a "home equity line of credit" or refinance your home to get a little money, home interest rates are still relatively low if you have a good credit score (720+). If you don't have a home, you can try to get a loan from a bank for the amount you need but you typically need "double collateral" ie. if you want a loan for $20k you would need at least something/s worth $40k

Good Luck!

should i consolidate another loan into my auto refinance loan?

Aug 19, 2008 by summer=happiness | Posted in Personal Finance

i am refinancing my current auto loan. i have a lot of equity in my car, so i was told that if i wanted to, i had the option of using that equity in my car to pay off a current student loan and consolidate it into one with one interest rate. my student loan amount is around $7,000 with 12.5% interest. the interest rate is lower on the auto refinance loan, and i would have it payed off in a shorter period, plus it's a fixed rate so i am guaranteed it won't raise over time. my question is, would it be a smart decision on my part to use the equity in my car to do this? it sounds a lot better to me having the lower interest and having this paid off in 4 years rather than the 10 more i have to pay on it, but i'm really unsure which move to make. someone out there that is smart in this kind of thing please give me some input on the advantages, or disadvantages to using my equity for this. thanks in advance!

Auto Loan Refinance question?

Feb 03, 2008 by newbeginnings | Posted in Credit

With unfavorable credit I received an auto loan at a very high interest rate. I have made made payments on time for the last ten months, and have had some improvement with my credit score. I've been approved to refinance my auto loan 4% lower than my original note. How would this transaction impact my credit? Is it better to let the account age?

You should definitely go ahead and refinance. A 4% reduction in your APR will literally save you thousands of dollars over the life of your loan. You'll get the same benefit of staying current with your new loan so it's best to go ahead and refinance as soon as possible.

auto loan refinance .... ?

Dec 19, 2008 by mark@tx | Posted in Credit

i have a auto loan with chase ...can i refinance with chase again and get a lower interest rate .... as the fed cut the interest rates im thinking they will cut my rates if i refinance ... but i donno if i can refinance at the same place where i took the load i.e chase bank

You can refinance any time and at any lending institution you want. Yes, even your current lender if they are interested. The Fed rate cut is not directly impacted on their refinance rates thought. It's worth a shot, but don't get discouraged if they turn you down. Lenders are being very stingy right now.

Is it possible to refinance a car loan with one's current auto loan bank or institution?

May 04, 2007 by lightning_strikes | Posted in Credit

I currently have an auto loan with Bank of America. I am paying 9.7% APR. I'm considering refinancing just to get my interest rate lower.

In fall 05, I started it w/ a loan balance of ~$27K. In 1.5yrs, I've paid down the loan to a little under $15K. Currently the car has a trade-in value of ~$19,500 and a retail resale value of ~$23K(I looked this up on Kelly Blue Book's website). So I know that I'm not upside-down on my loan.

Do I have a good chance of refinancing? My credit is solid, but the only thing that I'm afraid might hinder me is the credit card balances that I currently have(although I've been paying them on time).

More importantly--Is there a chance Bank of America might be able to refinance my car loan for a lower rate? If they do this, is it possible for the loan acct.# to stay the same?(since it's within the same bank) Do banks sometimes refinance car loans that they already manage? And if I tried to refi with Bank of America, would it create a hard inquiry?
I asked about it at my credit union and I'd say it's a no-no. The credit union said they only determine int. rates based on what tier my credit score falls in, so my good loan-to-value ratio, length of loan, etc won't help me. They also said that I'd only qualify for a "used car" loan, and the rates are higher for those. But I will definitely try Bank of America...except I called 2X today and got disconnected each time after waiting a while. >:( Anyone have any specific car loan experience dealing with Bank of America?

Yes it is possible. Since you have paid the loan down so much your loan to value has changed greatly. This is one of the main things that lenders base rate on.

You should have no problem refinancing with your own bank, if you do? Try a credit union, they will always beat a bank on rate anyway.

And yes it will be a hard inquire.

Who needs a Guaranteed Loan Offer at a Low Interest Rate?

Apr 13, 2007 by Debra C | Posted in Renting & Real Estate

I am Mr.Harrison A. Walker a private lender. I give out both private and commercial loans to both individuals and corporate business organisations at a low interest rate.Under my loan process, repayment can be made either monthly or yearly. I give out loan for:
Free mortgage/loan assessment.
Home Purchase Loans..
Refinance Loans..
Fixed Rates..
Adjustable Rates..
Land Development Loans..
Residential Investment Loans..
Multi-unit Loans..
Personal loans...
Business loans...
Auto loans...
If you need more details or you wish to obtain a loan from me,you can contact me via e-mail harrisonalphwlkr_loan@yahoo.com.

I think I know who you are, your that guy on the commercial that always loses his loan to DiTech. How sad for you it must be to live in a world where everywhere you look your failures in life are prominent. I have to ask however why does one Harrison A. Walker, private lending esq, type with a distinct Asian sentence structure ? And by the way, in the time you have spent perusing this you just lost two more loans to DiTech. I suppose this will mentally take you back to the time your mom bought you a Duncan Yo Yo. You didn't take the time to read the instructions and had no idea they operate with a string. Now remember Harrison, if your contemplating suicide, when using a razor blade it's down the road, not across the street.