What is the best way to go about refinancing my car loan?

Asked by Christina

2 Answers

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Answered by Paul Carag, Financial Adviser in Renton, WA
Calling a bank or credit union to see what their terms and rates are might be the first best step. It will generally depend on whether you are simply looking to lower your payment i.e. a rate and term refinance or..a cash out refinance to come away with some cash.. The amount of the loan will usually dictate the length of the loan. Example - $20,000 loan for 60 months or less; you would rarely see it for longer. Lastly, they will consider the loan to value usually from 70% on down. Once you have a feel, you might look online. Good luck. | 08.11.15 @ 02:44
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Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA
1) contact present lender for options 2) contact the bank you bank with for options 3) contact smaller local credit unions and banks for options | 08.11.15 @ 22:57
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