Refinance Your Car Loan - 3 Tips For Refinancing Your Auto Loan Online

Refinancing your car loan is an ideal way to lower your interest payments or reduce your monthly payments. By using online auto loan lenders you can be assured that you are finding the lowest rate. To be sure you are getting the best terms, follow these three tips before you refinance your vehicle.

1. Plan Your Payments

Before you refinance your auto loan, decide what your goal is. Do you want a reduced interest payment or have a smaller monthly payment? With your goal in mind, you can choose terms that will best meet your needs.

To find reduced interest payments, it is best to have improved your credit rating. One easy way to do this it to pay your credit cards down to 50% of their limit. You can also find lower interest rates by choosing a loan shorter than the typical five year period.

To reduce your monthly payments, look for a loan for a longer period. You don't even have to find lower interest rates to lower your monthly payment. However, you will be paying more in interest payments over the course of your loan.

2. Come Prepared

To speed through the refinance process, gather all your financial information ahead of time. If you don't know the current balance on your loan, call to get the exact amount. Also be sure that you have the correct address to mail in the check.

Having a copy of your last tax forms will also make filling out the forms for quotes or a loan application easy.

3. Compare Quotes

When you are ready to find an auto loan, compare quotes before you pick a lender. You can get quotes instantly from online lenders and brokers. Auto loan brokers partner with several lenders to offer you multiple quotes. Auto loan brokers strive to offer the lowest rates, so you may find a better deal through their sites than going to the individual lender's site.

While rates and terms are important to compare, also take a look at fees and repayment options. You don't want to get locked into a deal that you can't pay early or refinance.

To view our list of recommended auto finance companies online, please visit this page: Recommended Auto Loan Companies Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.

---

Guide to Loan Terms

Listed below is a guide to loan terms. It is... Read More

Try Unsecured Loans! If The Word Secured Doesn?t Fit Your Financial Statement

Big financial goals, no security to supply - it is... Read More

Is a Microloan Right for You?

If you've been tossing around an idea for a small... Read More

A Look at Common Types of Loans

People sometimes wonder about common types of loans, especially with... Read More

No Faxing Hassle-Free Payday Loans Can Be Yours

No faxing payday loans are the wave of the future.... Read More

Is Getting A Personal Loan With Bad Credit Impossible? Think Again

A bad credit history is like having contracted an infectious... Read More

Secured Loans Tips

Here are some useful secured loans tips. Secured loans enable... Read More

Cheap Loans Till Payday - Using Cash Advance Loans in an Emergency

Need extra cash till payday? It's easy to apply and... Read More

Benefits of a Home Owner Loan

There are many benefits for choosing a Home Owner Loan,... Read More

Payday Loans - Bridging The Void Between Paychecks

Emergency - the word is written everywhere in red and... Read More

Loans For Unemployed - when your personal economy slumps during difficult times

The latest IDS figures for unemployment the claimant count measure... Read More

About Personal Loans

What are personal loans? They are unsecured loans that a... Read More

Best Car Loan Rates - Tips To Getting a Low Auto Loan Rate Online

Online car loan shopping practically guarantees that you are getting... Read More

Should You Ever Take a Payday Loan?

Payday loans have many names -- cash advances, signature loans... Read More

Should You Get A Pay Check Advance?

At some point in your working life, you may find... Read More

Where to Look for a Cheap Personal Loan

Looking for a cheap personal loan can sometimes be a... Read More

Everything You Need to Know About a Secured Loan

If you're not familiar with the term, a secured loan... Read More

What You Should Know About Home Equity Loans

A home equity loan is essentially a type of second... Read More

Second Mortgage Loans

A second mortgage is a loan that is secured by... Read More

Secured Personal Loans - What You Need To Know About

Loans that are secured against property are called secured personal... Read More

Finding the Bad Credit Personal Loans that You Need

It can seem impossible at times to get bad credit... Read More

Quick Cash Advance Payday Loan - Get it Free or Cheap

If you are looking at getting a payday loan or... Read More

Thinking Of Co-Signing For A Loan? Read This First

It is quite common for someone, who is having trouble... Read More

What are Personal Loans?

As the term implies, Personal loans are simply loans for... Read More

All About Secured Loans

A secured loan is a loan agreement in which the... Read More

No Credit Check Payday Cash Advance Loan - Benefits to Using a Payday Loan

No Credit Check Payday Cash Advance Loan - Benefits to... Read More

The Wonders of Compound Interest

Albert Einstein called compound interest "the greatest invention of all... Read More

What is an Auto Loan?

An Auto loan is basically another name for a car... Read More

Benefits of a Home Improvement Loan

Some of the many benefits of a Home Improvement Loan... Read More

Bad Credit Car Loans - Why They Are Easier To Get Than They Ever Have Been

Car loans are easier to get by using an online... Read More

Shopping for a Personal Loan

Most Internet users are now extremely comfortable using the Internet... Read More

Money With The Click of a Mouse

Online payday loans seem to be popping up everywhere. A... Read More

What is a Tenant Loan?

Ever wondered what is a Tenant Loan? A tenant loan... Read More