Refinance Car Loan

Want to lower your car payment? Need some extra cash? A refinance car loan offered by CarsDirect may be the answer.

Refinancing your car is somewhat similar to home refinance. You pay off your current car loan and replace it with another car loan to a different lender with a lower APR. People that refinance their current car loan usually view this as an opportunity to get a better loan and make lower payments.

Even with bad credit, it is still possible to get a refinance bad credit car loan. If you have bad credit and a high APR, you should consider a refinance car loan so you can pay a lower APR.

Before you apply, there are a couple things to keep in mind. If your car was new during the initial loan, then it will be more difficult to lower your monthly payment by refinancing because your vehicle is now considered used and used car loans have higher interest rates. You also have to determine the condition your car is in. If your vehicle is in poor working order, then your interest rate will most likely be higher. However if interest rates have declined by more than one percent since you took out your loan or if you have improved your personal credit rating, you can still save substantially by refinancing your car loan.

You should know that if you apply for a refinance car loan and then learn that the terms are not as favorable as what you're currently getting, there's no obligation on your part as long as you don't sign a contract. As with all financial products, the more informed you are on a refinance car loan before you take one out, the better.

Unlike going through one financial institution, CarsDirect can check rates at multiple banks to ensure you the best deal! Once CarsDirect arranges a new loan for your car, this financing is used to pay off your existing loan, so you?ll continue to have one payment. The difference between the amount you paid on your vehicle and the amount you borrow is available as cash and can be used anyway you like.

Simply e-mail us your name, e-mail address and phone number, and an Auto Refinance Specialist will contact you. In many cases, we can get you refinancing approval in a matter of minutes. We also give you the option of deferring your first payment for 90 days!

Best of all, the service is free and no obligation is required!

Loans subject to approved credit; not all applicants will qualify. Not all applicants may qualify for lower interest rates or lower payments. Actual loan amount and payments are based on vehicle value at time of refinance, applicable interest rate and length of payments. Loans previously arranged through CarsDirect's or its affiliate company CD1Financial may not be eligible. Services are not available in all states. Contact a CarsDirect Auto Refinance Specialist for specific details.