How the Market Affects Auto Refinance

by Scott Markland

We have all been watching it, the stock market crash … again … and again. The staff at RateGenius is always well aware of the market as our lenders are directly tied to it. That crash around 2007? We felt that as much as you guys did. But we are still here, fighting for your right to a lower interest rate.

So this time around, I am sure many of you are wondering how this “downgrade” is affecting the financial institutions you are thinking of refinancing through. Well according to Reuters and our own records, the rates are actually awesome right now because of all of this. In fact, there could not be a better time to refinance things.

From the Reuters article:

Car loans, however, are also expected to hit historic lows. The biggest factor affecting rates right now, Ulzheimer says, is your own credit score. “A credit score of 750 buys you 4.3 percent rate on an auto loan, but a 580 gets you 17 percent for same exact car. So you’re paying $170 more per month, for a $20,000 loan just because you have poor credit.”

Hear that? Yeah, we like the sound of that too. Worried about your credit? Pull a credit report (no, the real free one) and see. Get to work on any inaccuracies and when you’re ready, get to refinancing. This is an awesome time to get things straight with your financial situation.

Don’t let a market panic change your mind about moving forward with your life. We are always here for you at RateGenius, fighting for lower rates and pairing you up with the best lenders.

So who out there is ready to nix the negativity and smile for Monday?

About The Author

Scott Markland

Read More

by Rate Genius

Auto Refinance 101

Auto refinancing allows you to save money by lowering your interest rate on your car, truck, or SUV. What is Auto Refinance? Most people don’t know that you can refinance your car loan. Refinancing an auto loan pays off an existing loan with a new loan. Replacing an old loan with a new one can…

by Stephanie Colestock

Trucks are Refinanced More Than Any Other Vehicle on the Road: Here’s Why

Anytime you take out a loan for the purchase of a vehicle, you should plan to refinance (or refi) that loan in the future. This allows you to take advantage of a lower interest rate -- courtesy of the economy or just an improvement of your own credit score. You can also use a refi…

by Stephanie Colestock

Springtime Car Maintenance Tips

[su_heading size="27"]Winter is finally on its way out, after a long season of cold temps, ice, and snow. Since all that dreary weather can do a number on your vehicle, spring is the perfect time to tackle some auto maintenance tasks.[/su_heading] No matter where in the U.S. you live, you get to enjoy your share…

review review

Customer Reviews

Read our 10279 Certified Reviews


apply now apply now

Apply Now

Lower your interest rate and drop monthly payments by an average of $76*/month!