What does it mean to refinance an auto loan?

You say "I want to refinance my car! Get lower payments," but what does auto refinancing really entail? It's not entirely unlike mortgage refinancing but so much easier. You are paying off one loan on your car and starting another. The benefits of refinancing your car loan are numerous, but that is another topic.

The steps in the auto refinancing process include:

• Collecting the most accurate information from you (online or over the phone)
• Processing your car loan application
• Sending your refinance application out to our lender network to find you the best deal, saving you the most money
• Talking to one of our loan specialists who will explain everything from loan changes to your approximate savings
• Getting you to complete the loan forms and mail them back
• We do the Rest! Including title transfer, loan payoff, and warranty and insurance paperwork.

There is no cost to you. Any fees by the state (we do not charge you anything), extended warranties, and/or GAP insurance are added into the loan balance. We work hard to make sure you are saving money and protecting your investment.

You can apply now to refinance your car, or learn more about auto financing with this article from the Federal Trade Commission. http://www.ftc.gov/bcp/edu/pubs/consumer/autos/aut05.shtm