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Thursday, October 6th
Open Road Lending, based in the DFW metro area, has been offering auto loans and refinancing for over a decade. You'll find higher mileage allowances here, but your car will have to be newer than with some lenders. You're also out of luck if you're self-employed! This referral service gets praise from some customers, but there are better options out there.
My Auto Loan offers refinancing of $5,000 or more for vehicles in the contiguous United States. Their online application is basic and straightforward, and requesting a loan quote will match you with offers from up to four of their partner lenders. Despite having a good reputation with customers and the BBB, My Auto Loan winds up low in our rankings because many people report having multiple hard pulls on their credit report after applying for an auto refi loan quote here.
With interest rates dropping like crazy, you're smart to think you might be able to save some money with a new loan. Whether you choose to keep your monthly payments the same and shorten your loan term or lower your payments and spend your cash on other necessities, it's almost a guarantee that refinancing will be a good decision.
In the past, most people would go to their bank or credit union to get a car loan refi. After all, it's comfortable, familiar, and easy to set up with checking or bank accounts that are already established there. But, that's not the best idea if you want the nation's top rates and terms for car loan refinancing. Your hometown bank doesn't need to compete with other lenders for your business: they already have it!
Money-wise consumers look to the internet for the best deals, and car loan refinancing is no different. There's no need to accept the first loan offer you see if you can get quotes from several financial institutions at once. Most online lenders have rates and terms that will easily beat anything you find locally, with all the convenience of a completely-online application and approval process. Save money while sipping coffee at home in your pajamas? Why not!
Looking at the available options for car loan refinancing online, it can be hard to tell different lenders apart. Which one should you use, not just to get an initial rate quote but ultimately to finalize your new loan? Here are several ways you can evaluate each choice to find the car loan refinancing that's right for you:
TopConsumerReviews.com has evaluated and ranked the best providers of car loan refinancing available today. We're confident that this information will help you get the rates and terms you're looking for to save money on your car payments!
Select any 2 Car Loan Refinace Providers to compare them head to head
CNBC on MSN
Why auto loans with $1,000 monthly payments are becoming more popular
It has become more common for car dealers to sell new vehicles to customers financing the purchase with an auto loan requiring a monthly $1,000 payment. CNBC's Phil LeBeau joins 'Squawk Box' with the ...
Wed, 05 Oct 2022