Car Refinance
If you're paying too much on your existing Car Loan, a Car Refinance Loan is the best solution to help Lower your Car Payments and Reduce Your Car Loan Interest Rate. Harbor Credit's Car Refinancing is a Quick and Easy way for you to Save Thousands on your current Car Loan and spend the money on more important things.
If you have Three Months of on time Car Payments from the start of your Car Loan then you are a perfect applicant for a Car Refinance Loan. You can Lower your Interest Rate and Lower your Car Payment by replacing your current Car Loan.
Car Refinance Savings Comparison Chart:
| |
Current APR |
Payment |
| Current Car Loan |
12.5% |
$404.96 |
| Car Refinance Loan |
9.5% |
$378.03 |
| 1 Month Savings |
|
$26.93 |
| 1 Year Savings |
|
$323.16 |
| Total Loan Savings |
|
$1,938.96 |
If you borrowed $18,000 at a rate of 12.5% on a 60 Month term Car Loan, and then get a Car Refinance Loan after three months of on time payments to replace your Current Loan at a interest rate of 9.5%. You could save $1,938.96 over the life of your Car Loan.
Car Refinancing
If you financed your car at a dealership, you probably paid an interest surcharge called Rate Participation. Dealers will generally make money on the interest you're charged by marking up the rate the lenders provide. Sometimes this rate hike can be 3% greater than what a bank would have quoted you otherwise. In these cases, your current credit rating already qualifies you for a lower rate, one that would result in lower monthly payments.
Car Refinance Loan
Fortunately, refinance car loans involve a simple application, and can be completed online in a matter of minutes. This is followed by a phone call from a loan agent who verifies your application and gets you a credit decision. The lender then simply pays off your old loan, and opens your new loan at a reduced rate and payment. In the meantime, you'll receive some paperwork via email for your signature. You don't have to worry about application fee, pre-payment penalties or hidden charges with Harbor Credit's no-obligation process.
Lower your Car Payment and Reduce your Car Loan Interest Rate, Apply for a Car Refinance Loan today!
* Higher rates may apply for lower credit.