Cash Back Auto Refinancing
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Cash Back Refinancing for your car in order to release the equity in it is easy, even with bad credit.
There are some that caution against cash back refinancing, but here at Auto Valley Loans, we encourage you look at the facts before making a final decision. There are situations where refinancing your car makes sense, and with the extra cash you get you can consolidate debt or use the cash for whatever you want.
How is it Possible to do Cash Back Refinancing with Bad Credit?
There’s two parts to cash back auto refinancing – your credit score and the cars value. Lenders look at a cars loan to value ratio. Equity is where the value of your car is higher than the amount you owe. This is the primary factor for calculating how much you can refinance and get cash back.
As far as the interest rate on a refinance, bad credit won’t disqualify you from getting the loan, but do expect rates to be higher. At Valley Auto Loans, we have a network of lenders that specialize in bad credit auto refinancing. We have helped thousands of customers, with bad credit, get cash back refinancing already. We’re confident we can do the same for you too.
Benefits of Refinancing With Cash Back
Unlocking the equity in your car can be beneficial in many ways. Lets take a look at how cash back refinancing can help.
Consolidate High Interest Debt
We touched on this earlier. You may have credit cards or personal loans with sky high interest rates. If so, consolidating these debts can actually lower your payments and put extra money in your pocket at the end of each month.
Cash Back Refinancing for Home Repairs
Unexpected repairs to your home can happen at any time. Instead of waiting weeks for the bank to approve your loan, why not refinance your car and get the money you need in a matter of hours. You don’t want minor repairs turning into a major headache just because you couldn’t get the money in time.
Taxes and Other Outstanding Debts
Tax season comes around once a year or you may be behind on other debts, either way high interest rates, penalties, late charges, and fees can eat away at your finances. Unlocking the cash from your car could be the perfect solution to solving these headaches. Penalties and late fees can be three times as costly compared to paying higher interest rates on a refinance, because of bad credit – run the numbers.
Increase Your Monthly Cash Flow
People that have a lot of credit cards, even with small balances, have cash flow problems. Little payments of $25.00 and $50.00 here and there add up, and at the end of the month there’s not a lot of cash left over. Paying off these little debts can actually help increase your cash flow, leaving you with extra money each month.
If your frustration level is mounting because you’ve been turned down elsewhere…stop! You won’t be turned down with us. We are the leaders in bad credit auto refinancing, and we can help you unlock the equity in your car by getting you the cash back you need.
At Valley Auto Loans, we appreciate your business and our network of lender do too. Let us prove to you that we can get you the loan you want. Apply online today for a cash back auto refinance!
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