Refinance Savings Examples
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.
RateGenius 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.
Reduce your Monthly Vehicle Payment
This example shows how RateGenius can lower your payment and save you thousands over the life of your loan. Through the RateGenius Automotive Refinancing process this customer saved over $73.81 per month and $4,428.60 over the life of the loan.
| Original Loan | New Loan | |
|---|---|---|
| Term | 60 Months | 60 Months |
| Interest Rate | 12.5% | 7.5% |
| Payment | $674.95 | $601.14 |
| TOTAL SAVINGS $4,428.60 | ||
Shorten the term of your loan
In this example we will shorten the term of the loan by 6 months and reduce this customer's interest rate. RateGenius was able to reduce their monthly payment by $13.60 per month, save them $3,434 in finance charges, and shorten the time until their vehicle is paid in full. By doing this, the customer also has a better opportunity to build equity faster in their vehicle.
| Original Loan | New Loan | |
|---|---|---|
| Term | 60 Months | 54 Months |
| Interest Rate | 12.5% | 7.5% |
| Payment | $450.00 | $436.40 |
| TOTAL SAVINGS $3,434.00 | ||
Take advantage of this great savings opportunity yourself, Apply Today!
