How do I refinance my car quickly? To have the best experience possible when refinancing a car with poor credit, we offer these tips:
- Be sure to choose the right lender for you. – Once you submit your application to us, you will typically be contacted by one or more of our partners with the next steps to complete your refinancing. Take your time and compare the options. There’s no obligation on your part to refinance. If you do not like the options presented, don’t feel pressured to continue. The most important thing is that you feel this is something that will benefit you in the long-term and it is a better auto loan than you have now.
- Make use of our auto refinancing calculators. – This will give you an idea of how much money you stand to save. As well as how the different options (number of months, cash out, decreased interest rate, etcetera.) will affect your monthly payments. Calculators will show you the tremendous benefit of paying as big of a down payment as you can afford on your new loan.
- Check your credit score. – If you have not recently checked your credit score, we recommend you do so now. We offer a free report from one of our partners that you can receive here.
- Compile the information on your current auto loan. – The new lender will want to know whom your vehicle is currently financed through, mileage, make, model and year of the vehicle. Go ahead and get these documents together and review them now, it will make the process go faster and easier in the end. If you are self employed, you will also need to show your 1099 for the past couple of years.
Evaluate Your Options First
The first step is to check the current terms of your loan to see if auto refinancing is an option for you. You then must decide if you could benefit from a lower interest rate or the ability to make a lower payment each month. You can then start shopping for a new auto loan.
Refinancing a car with bad credit is often a good idea if your credit score has improved since you got your first loan. You want to pay off the loan in a larger number of payments, or you are looking to consolidate your debt. You may have had no credit history when you first took out the loan and now you have built some credit. Many students experience this after getting student loans. They find they can refinance the loan later for a better finance rate.
In many ways getting your loan refinanced is easier than getting the original loan.
Before you shop or even refinance a current loan, there will be a certain amount of information that you will need. Gather this first so you can finalize your loan online. This includes the mileage of the vehicle, the information of the bank that currently holds the loan (that the new financial institution can send the payoff to). All in all, this will take less than 30 minutes to an hour and can save thousands over the term of the loan.
Best Auto Refinance Companies
We are unlike many of our competitors, who work with a small handful of lenders and services. We do not sell or lease our mailing lists. We offer a safe and reliable way to apply for a loan without the worry of your information getting into the wrong hands. Valley Auto Loans’ service stands above the fold when it comes to bad credit auto refinancing companies.
Valley Auto Loans’ founder, having filed bankruptcy himself in the past, know what it’s like to try to buy and refinance a car under these conditions.
We have set a mission to provide the absolute best company and service to their customers. Through much hard work, we have been able to establish relationships with lenders all over the United States.
It is our goal to educate and assist customers in any way we can. We have a nationwide group of banks offering the best auto loans and refinancing options available for those with bad credit.
We have been deeply involved in changing lives of consumers with a poor credit history. Our exclusive car refinancing for bad credit approval system provides low-interest car loans. We also offer our opinion on the most relevant financial issues to help people get the most out of life in spite of their financial difficulties through articles on this blog. You can also find a great deal of help from the resource page like “How to fix a flat tire yourself,” “jump starting your car with jumper cables” or even “how to get better gas mileage.” The resource page is a must for anyone thinking of shopping for a new or used car.
OK, we will admit that people think of us as a place to get auto financing. However, did you know Valley Auto Loans provides other useful information as well? For instance, Our resource page has practical information on setting up a simple budget that will help you find extra spending money each month. We can also show you how to get the most for your trade-in car at a dealer or if you chose to sell it yourself. This is why we strive to be your one-stop auto loan broker when it comes to refinancing or any of your automotive driving needs.
It Is Easy…However, Be Careful!
With the age of the internet upon us, there is more than one option out there for refinancing your vehicle online. However, more is not always better.
Unlike us, there are many “companies” (we use that term lightly here) who develop a website to profit simply off of the information provided. We have gone the extra mile to provide a 100% Secure and Encrypted website for our visitors.
We host our website on multiple servers, with customer information encrypted and out of the reach of all other data. We have taken every step to make sure your information stays safe.
We also do not sell your information to any outside source. We work with our strategic partners, who will contact you directly after submitting your application, and that is it. It is all in the family here!
Find a Lower Interest Rate
If your loan is at a high rate now, finding a lower rate will often lower your payments and your total amount paid. The larger the drop in percentage, the more savings you get.
Interest rates are lower than they have been over the past several years. Now is the perfect time to look for an opportunity to get a refinance auto loan with poor credit. By getting a lower interest rate on a new loan, you can save thousands of dollars which would have been spent on excessive interest fees. This means a drastically lowered monthly payment, and more money to spend on other, worthwhile investments.
For those who have taken out a car loan over the past several years, it can be a good idea to browse refinancing rates to find one that can save money over the long-run. It is a good idea to use a loan, calculator. This can help one assess the savings from new monthly payments as well as compare the duration of payments.
Interest rates vary day-to-day as well as from bank to bank. We use many different banks and institutions to provide auto financing for bad credit to our customers with the absolute best deal. However, as a reference point we have listed some general interest rates for your convenience. These are not intended to act as a guarantee because each loan is different from another. However, they will give you a good benchmark to see what the market conditions are and how much you are likely to save by doing a bad credit, car refinance with us.