by Julia Guardione

Why High Payments Don’t Have to Bog You Down

Many Americans currently paying off a car loan may realize that their payments are mostly going toward the interest rather than the actual cost of the car. Though many lenders and dealerships will offer car loans, some consumers are more concerned with having a new car than with the terms of their loan. Unfortunately, this is a common problem, but there is a real solution.

One solution is to get an auto loan refinanced in order to get a lower interest rate. This way, consumers put money toward paying off the cost of their vehicle rather than paying toward interest. It is typically better to refinance sooner than later, as the interest on any loan accrues each day – therefore, getting a new loan early on can potentially save quite a bit of money.

Of course, there is one way to prevent paying too much in interest altogether: pay attention to loan terms. If there is both a high interest rate and a long term, this is a tell-tale sign that your loan amount will significantly exceed the value of your vehicle (LTV ratio).


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by Julia Guardione

From the Desk of Douville: Rising Above

Rising above when market conditions get tough There is no shortage of data documenting rising delinquency rates, losses trending upward, and dropping collateral values. The near prime to subprime market has seen the worst performance and has been grabbing the headlines as of late. We have also seen reaction to current market conditions with some…

by Julia Guardione

Do you qualify to refinance?

[su_lead]Some people may avoid applying for auto refinancing because they are uncertain about whether or not they qualify. However, getting approved for a new auto loan might not be as difficult as you think.[/su_lead] A common misconception is that credit score is king - that it is the main determining factor for loan approvals, offers,…

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