Auto Loan Refinance Overview
Auto loans are designed to help you spread out the major upfront cost of a new or used vehicle into comfortable monthly payments. But what can you do when even that monthly payment amount is too high for your budget? Refinancing is available for auto loans just like it is for mortgages, student loans, and other forms of debt.
You may feel stuck with a big monthly payment or a high-interest rate, but options are available to find you loan terms that are a better fit for you and your family. Honest Car Payment is here to help! We’ll refinance your auto loan through our fast, easy, and secure process.
Choosing to refinance your loan rate has many benefits. By setting up new terms, you can shrink those big monthly payments into something more budget-friendly. You can also create a faster payoff schedule to eliminate one more monthly payment to remember. By negotiating you a lower interest rate, you could save you hundreds or even thousands of dollars over the life of your vehicle.
Explore our Auto Refinance Options
Here at Honest Car Payment, we know that one size never really fits all. That’s why we offer three different ways to refinance your auto loan, so you can pick the method that is perfect for you!
- Traditional Auto Refinancing: Replace your current high-interest, long-term, or high monthly payment terms with a new auto loan that’s friendlier to your lifestyle. We pay off and close out your old auto loan and set up a new one with a lender offering you better terms.
- Cash Back Refinancing: Need to make a big purchase while you’re already in the process of refinancing? A cash back refinance arrangement not only saves you money on one convenient monthly payment but also gets you cash in hand to pay for unexpected expenses like car repairs (or a family vacation).
- Auto Lease Buyouts: When you love your leased car so much you don’t want to give it up at the end of your lease, we can help. We’ll finance the purchase option price of your auto lease so you can keep driving the same car without worrying about a big out-of-pocket expense.
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About the Auto Loan Refinancing Process
We believe that the auto loan refinance process should be as easy as it was when you first bought your car. The first step in the process is to fill out our quick informational form. Once we’ve received your details, we’ll reach out to you to gather more information like:
- Your original finance contract
- Your current vehicle registration information
- An accurate odometer reading for the vehicle being refinanced.
Having this information already on hand will make the process go faster, but you can also request the contract after we contact you if that’s easier. Once we have your financing details, we’ll pour over the contracts to find overcharges and other items unfairly added to your loan.
We’ll fight to secure a refund on any unnecessary charges and pass those savings on to you. After we’ve verified the details of your current loan, we’ll shop around on your behalf to find a new lender offering a lower interest rate. Our team doesn’t rest until we’re sure we’ve found the lowest interest rate available for your refinanced auto loan.
Unlike car dealers, we don’t add a hefty markup to the loan rate just to turn a profit. If we find a lender offering a bonus for participating with them, we pass those savings onto you! You’re kept in the loop during every stage of this process. You never have to wonder how much we’re making or if a better rate is available because of our dedication to transparency.
Can I Refinance my Auto Loan with Poor Credit?
Don’t assume that a bad credit score or lack of credit history will disqualify you from refinancing your auto loan. We work with borrowers of all income levels and credit backgrounds. If your credit has improved even a little since you first took out your auto loan, you likely qualify for a much better interest rate and lower monthly payments now. Let us work on your behalf to refinance your car loan and secure the best rates available for you regardless of your current or past financial situation.
Why Choose Honest Car Payment to Refinance Your Auto Loan
No one in the auto refinancing industry works as hard as Honest Car Payment for their borrowers. Our loyalty is to YOU the customer – not the dealerships, not the banks. We take every case to heart and go above and beyond to find loan deals that other refinancing companies overlook. We don’t markup loans or charge hidden fees. Our commitment to transparency means everything – your new terms, interest rates, and even our profits are all disclosed in the contract!
Unlike other companies that only focus on specific makes and models, we offer auto refinance options for cars, trucks, SUVs, and even RVs and campers! We work with hundreds of different lenders and financial institutions so we can offer a wide range of options for all borrowers.
Talk With an Auto Refinance Specialist Today
Don’t settle for your current high monthly payment, options for refinancing are available! Get in touch with a specialist for more information or give us a call at (808) 534-1234 to get answers to any questions you might have. If you’re ready to get started, fill out our loan application today.