Ensure Auto Refinance


Sunday, July 15, 2007

Preface


There are several articles about refinancing your current auto loan, but has anybody explained to you what refinancing your auto loan means?
This articles shows you what an auto loan refinance is and how you can benefit from getting a new auto loan with lower interest rates to refinance your current one.
Refinancing your auto loan means that you get a new credit with much lower interest rates than your old car loan. With this new car loan you can refinance your old car loan, so that you have lower monthly payments. All you need to do is to find a great deal in order to get a car loan with a very low interest rate. Then carry the money you get to your current lender and enjoy the saved money. Sounds easy, but where do you find these lower interest rates and when is the best time to look for your new loan?
A good time to think about refinancing your car loan is when federal interest rates drop. Most lenders will also drop their interest rates, so that you can profit from that.
A great source to find the best refinance auto loan is the internet. There are many finance companies and banks that you can compare. They have a form on their website that you can fill out to apply for your refinance loan. They will get back to you and let you know what your new interest rate will be. You can compare several offers and choose the one with the lowest interest rate and the best conditions. Most offers have a certain time frame to lock the offer and for you to take action. Make sure to compare all offers within the shortest time frame in order to receive the locked offer.
Be aware, there are some finance companies or banks that will add a "special agreement" for paying back the loan earlier. The charge extra fees and you will be paying much more than you have expected. Watch out fore these terms of agreement in your current loan agreement.
With the popularity of the internet, many people have taken the chance to save lots of cash through refinancing their auto loan and you can be the next one. Take action today and compare different offers from several finance companies and banks.
Guido Nussbaum, Admin of auto loan calculator a website about auto loan and cars in general. You are allowed to reprint this article including this author box

Posted by karthika at 11:23 PM | | Comments

Ensuring Auto Loan


Pay close attention to these important points, because you would hate to get rejected for making a stupid clerical error.



  • Auto refinance loan applications need to be in the same names (with exact spelling) as the names on your current auto loan. This is important because that is how your current auto loan is identified and found. Have your car loan account number ready. If you give them a name with a different spelling, they cannot find your current loan, and you get rejected. Sounds like a no brainer, but...

  • You must refinance more than $7500. Any less and it's not worth the auto refinance company's time.

  • It's also important to have all the vehicle information accurate so that Capital One Auto Finance and HSBC Auto Finance can price out the car to make sure it meets Loan to Value ratio guidelines. Enter the year and model and enter the 17 digit VIN (Vehicle Identification Number), found on your dashboard or registration.

  • Your auto refinance loan amount should not be higher than the value of the car. Just like home refinancing, where the bank won't lend you more than the value of the house. You might want to check your values first to make sure your car has retained a reasonable amount of value relative to the amount you still owe on it.

Posted by karthika at 11:17 PM | | Comments

Auto Refinancing Benifits



  • Auto Refinance can lower your car payments dramatically.

  • Lower car payments can mean no more missed payments and late fees.

  • Our car refinance specialist work with you even if you have bad credit.

  • Use your car payment savings to repair or customise your vehicle.

  • Stop being taken advantage of by your current auto lender.

Posted by karthika at 11:15 PM | | Comments

Auto Refinancing Requirements



  • 18 years of age or older

  • Current US resident

  • Vehicle must be 1998 or newer with less than 70,000 miles

  • Loan request must be between $7,500 and $50,000

  • Gross monthly income of $2,000 (single applicant), OR Combined gross monthly income of $2,400 (joint application)

Posted by karthika at 11:12 PM | | Comments

Finding Auto Loan




Once your application is complete, our skilled team of loan specialists will work swiftly with an enormous lender base of reputable banks and credit unions from across the country to get you the best qualifying interest rate and monthly payment for your vehicle.
Lenders in our network - including national banks, credits unions, and federal savings banks - compete to save you the most money on your current auto loan. With over 40 banks and credit unions in our network, that is a lot of competition for your loan.
Within hours, rateGenius will compare offers from these lenders and organize options that will save you the most money. When an offer is made, you are then immediately contacted with the outcome of your application either by phone, email or by standard mail.

Posted by karthika at 11:11 PM | | Comments

Completing AutoLoan


After rateGenius negotitates the most suitable loan for your vehicle, a loan agreement is emailed or delivered to you without delay. Upon reviewing the details of the contract with your loan specialist, you sign the appropriate paperwork and return to rateGenius via the provided pre-paid postage envelope.
Once all the necessary paperwork is completed and received, our fulfillment team manages the last steps. A check for the remaining balance of your old auto loan is paid in full to your former lien holder. Any insurance or warranty paperwork is sent to the appropriate companies. Finally, your vehicle's title is transferred to the new lien holder, and the process is complete.
Congratulations! At that point you will have quickly and successfully refinanced your car, truck or SUV with rateGenius. At least ten days prior to your first payment with your new lien holder, you will receive a welcome kit including a payment book.

Posted by karthika at 11:09 PM | | Comments

Examples-Auto Refinancing


When you purchased your automobile, you may have received a higher interest rate than you deserve. In order to get the finance rate you are entitled to, you should let rateGenius work with our extensive lending network to get you that reduced interest rate. Whether you are looking to reduce your monthly auto payment, acquire a lower interest rate, shorten the term of your loan and/or take up to a 90-day break from those payments, rateGenius can help.
Once our Loan Officers understand your unique financial situation and goals, they will be able to explain how much money you can save by refinancing. They will also be able to review the products you purchased when acquired your vehicle, such as your Service Contract or GAP coverage, to make sure you received a fair price.
Genius works with customers in all credit spectrums. We have been able to save thousands of dollars for people with perfect credit and those who have had credit problems in the past.

Posted by karthika at 11:07 PM | | Comments

Apply Auto refinancing

You will need general information about yourself, your present lien holder and the vehicle you wish to refinance. However, certain pertinent information is required to expedite your refinance application and find the best loan possible for you:

  • Your Vehicle Identification Number (VIN)
  • 17 letter/number combination easily found on your insurance card
  • Also called a serial number
  • Your vehicle's current mileage
  • Name of current lien holder
  • Current loan information
  • Original amount financed
  • Current monthly payment
  • Date of first payment made
  • Length of term (i.e. 60 months)
  • Make, model and style of your vehicle (i.e. Honda Accord EX)
  • Phone number for employment verification (if employed)
  • Social Security Number
  • All information is gathered and processed through an encrypted network (SSL provided by Verisign), and is stored on secure servers behind multiple firewalls. The details of your application are never sold or shared to third-party vendors.

Posted by karthika at 11:04 PM | | Comments

Auto Refinance Process



Refinancing your car, truck and SUV has never been easier. rateGenius has simplified the automotive refinancing process to help you save you thousands on your current auto loan, skip up to 60 days of monthly payments, and lower your interest - all at no cost to you.
There are three steps to refinancing your automobile

  • Applying for a loan
  • Finding a loan
  • Completing your loan
  • Example of savings

Posted by karthika at 10:56 PM | | Comments


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Auto Refinance Process




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