Everyone today is in the same boat. We are all looking for ways to save money each and every month and put more money in our own pockets. Car prices are not getting any cheaper and while interest rates are at an all time low, it is hard to get financing today on a new vehicle. That is why many consumers are looking to auto refinance as a means to reduce their monthly expenses. Lower car payments by refinancing is one of the newest products on the market and it is making an impact on consumers budgets all over the US.
“Most of us who purchased our last car from a dealer probably paid too much for the financing.”
What most people do not realize is the finance office is one of the, if not the biggest profit centers at the dealership. It makes sense with invoice prices and used car values floating all over the internet. The financing is the only place left (plus service and parts) for the dealer to make any money. That is why refinancing makes sense. If you are like most consumers, refinancing can save you hundreds of dollars over the life of your loan. Most consumers that take advantage of auto refinancing save upwards of $90 per month off of their existing monthly payments. That money can be used to pay off your loan faster or to pay off high interest credit cards.
The process is pretty simple. Find a lender offering car refinance loans online. Complete a short application that asks for information related to your job, income and residence. Add in some information about the vehicle you are refinancing and in a matter of minutes in most cases, you have a loan decision back and are on your way to saving money. The application process is free with most lenders and it literally takes just a few minutes to complete. The neat thing is, once your are approved, you have the ability to download your loan documents from the comfort of your own home and never have to step into a bank or credit union to complete the process.
It is that easy to start saving $30, $40 or as much as $100 per month from your current car payment. You can find out more about refinancing your existing car loan and even fill out a refinance application at OpenRoad Lending. OpenRoad Lending was recently recognized by Inc. Magazine as the 37th fastest growing private company in America which goes to show just how much they are helping consumers, regardless of their credit history, all over the country.