Bad Credit Auto Refinance
Auto refinancing with bad credit is one of the easiest ways to lower your monthly expenses and start saving money. Most people don’t even realize that it is possible to refinance with bad credit. If you purchased a vehicle at a time when your credit was bad due to excessive debt, unpaid bills, medical expenses, divorce or even bankruptcy, then most likely your auto loan carries a very high interest rate and a high monthly payment.
Even if your credit is still less than perfect, you could benefit greatly from refinancing a car with bad credit. As little as a one percent drop in your auto loan interest rate could mean a significant decrease in your monthly payment, anywhere from $70 to $100 per month. That’s between $70 to $100 more in your pocket every month you can use to take care of other expenses. Not only will refinancing save you money on your car payment each month, it could save you thousands of dollars over the life of your loan.
Car refinancing with poor credit is really much easier than you might imagine. It's not as complicated as refinancing a mortgage. There are no inspections and no appraisals. Your loan amount is determined based on the amount you still owe on your auto loan and not the actual value of your vehicle. So, even if you have just recently purchased the vehicle, it might still be worth your time to investigate auto refinancing. With bad credit or good credit, the process is still the same. The best way to get started with is to search online for lenders who specialize in auto loans for people with bad credit. These direct lenders make their own decisions about who qualifies for refinancing and who doesn’t. In most cases, their credit requirements are much more lenient than with private lenders.
The process starts by filling out a simple online application. The process takes just minutes and then you are notified almost immediately by email. Once approved, it is your decision whether you want to refinance or not. If you choose to refinance, your new lender will take care of everything. Your old, high interest auto loan is paid off and you have a new, lower interest loan. With your very next payment, you start saving money. The new lender will even take care of transferring the title to your vehicle. There are generally no application fees involved and no refinancing fees.
With one simple decision to refinance your auto loan, you can save thousands. You have nothing to lose from car refinancing with bad credit except a high car payment.
Car loan & auto refinance experts for people with bad credit. RoadLoans.com provides a car loan calculator and car financing to buy new & used autos. Save money and time and apply online today!"