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I bought a new car taking loan from the bank about a year ago. Out the 60 installments I have paid around 12 or perhaps 13. I have come to know that some companies can refinance my car loan. As I do not know much about car refinancing so need someone to guide me on this.
Tags: car, refinance
There is no complication involved in refinancing your car loan and the process in more or similar to getting a car loan. The main purpose of the car loan is to get a monthly payment lower than you are already paying and a better interest rate. If you are concerned about your credit rating, make sure that refinancing your loan makes your credit drop by a few points. You simply contact a refinance company and provide then details about your car loan. They will pay off your outstanding debt to your existing financial company and will provide you with their own monthly payment with some terms and conditions. Before going through this process it is advised to go through the auto loan policies of your current and desired financial company.
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Latest activity: 12 years, 2 month(s) ago. This question has 1 answers.