Auto Refinancing with RefiPayment

Securing an auto loan with competitive rates and terms is something to applaud if you have bad credit.  If you have faithfully paid your car loan each month for the past 6 months and you’re looking for a way to improve those rates and terms even more, RefiPayment has the tools and resources that might help you get it.

Our unique lending platform allows for reputable auto lenders to provide you with multiple loan offers.  If approved, simply select the most attractive offer and immediately benefit from a lower interest rate.  If you’ve been thinking about refinancing your car, now is the perfect time to do it.

Secure a Better Interest Rate

It is possible to get a better rate and term on your auto loan with RefiPayment.  Some conditions that can influence the interest rate and term you qualify for include:

  • A decrease in interest rates since you purchased your car.
  • A recent boost in your credit rating.
  • You had poor credit when you originally purchased a car.
  • You secured your original car financing through an auto dealer

A reduction in interest rates from the time you purchased your car may reduce your monthly car payments, lower your finance charges or both, but so can an improved credit rating. A recent boost in your credit rating may also help you secure better terms than you currently have.

If you had poor credit when you purchased your vehicle, chances are you’re paying a high interest rate on your loan.  And if you’ve made your payments on time for at least 6 months, auto refinancing with RefiPayment could save you money. Our refinance application is integrated with multiple lenders which gives you the opportunity to receive refinancing offers from more than one auto finance company.

Increase Cash Flow

Free up cash each month by refinancing the remaining balance of your loan over a longer term. For example, the monthly payment on a car loan of $25,000 financed at 8% interest over a five year term is $501. After 3 years, the remaining balance would be approximately $11,208 and if you refinanced that amount for 5 years at an interest rate of 6%, your monthly payment would be $216 dollars – a savings of $285 each month.

Refinancing and increasing the length of your auto loan can improve your cash flow position today.  Realize, however, that this particular auto refinancing strategy can increase the total amount of interest you will pay over the life of the loan.

Purchase Your Leased Vehicle

If your lease is about to expire and you plan on keeping your car, you’ll need to pay cash for the balance or apply for an auto loan. The dealer that leased the car may offer you an car financing but it pays to shop around. Think of their offer as a starting place and then apply online with RefiPayment and see what our lenders have to offer. Compare loan terms and choose the one that’s best for you.

Auto Refinancing Made Simple

Refinancing your auto loan with RefiPayment is quick and easy. Simply submit an application and you could receive multiple offers from our direct lending partners.  Apply now and improve the rate and term of your auto loan today.