AUTO REFINANCE

How To Refinance a Car Loan

Refinancing a car loan can be done at any time, and for many different reasons, from reducing monthly payments to getting a better interest rate. Some of the most common questions are :

The option to refinance a car loan is pretty much available to anyone whatever their original loan, whether it be dealership financing or having obtained a loan or credit from a bank, financial institution or credit union. There are many reasons why people refinance a car loan, some of them of necessity and others through choice. In either event it can often be relatively easy to do, and can often offer the individual significant savings.

Refinancing a car loan simply means obtaining or taking out another loan that pays off the original loan and replace it with a new one, normally with a completely different lender.People often think that once they have a car loan or an auto loan then they are tied to it for the period of the loan.In fact anyone can try and refinance a car loan pretty much from the day they take out the original one.

Depending upon the length of the original loan, it is likely that the majority of the repayment costs in the first year possibly 18 months will be interest only, or at least mainly interest, so refinancing early on in the life of a loan can often make a lot of sense.

Refinance Car Loan – Reasons Why – Lower monthly payment

People refinance a car loan for different reasons. Sometimes their circumstances change and they need to alter the length or terms and conditions of the loan.Sometimes their financial situation improves or worsens and the need to adjust their payment schedule accordingly.

Sometimes it is external factors such as a general lowering of interest rates in the economy which makes them realise they could possibly get a better deal. One of the main reasons people refinance a car loan is to reduce their monthly payments. It is probably fair to say that most people when taking out a car loan work out how much it cost them on a monthly basis.

This is then used as a guide as to their own budgeting for other household and personal responsibilities. If the individual’s circumstances change then it is sometimes necessary to lower the monthly payments are they make on their car loan. This can normally be done either by extending the period of the loan, or paying off some of the capital amount of the loan, thereby reducing the monthly payments. Both of these options would require the refinancing of the original car loan.

Interest rates

One of the features of any car loan or lease agreement that it will include a fixed rate of interest for the period of the loan. This gives a sense of stability to both sides, and allows individual to plan and budget them to repayments accordingly, knowing that the amounts repayable will be saved every month. If however interest rates change, and it’s possible for the individuals get a better rate of interest, then by refinancing the original car loan they can do this and save themselves sometimes a significant amount of money.

Length of loan

The length of the car loan is normally fixed at the outset, providing a degree of stability for both sides. However if the individual wishes to change the length of the loan, either to shorten it to extend it then it will be necessary to refinance the original car loan for a different period of time.

Co-Signor

When someone applies for a loan and has either poor or bad credit, one of the conditions of granting the loan is often that a co-signer effectively guarantees the loan. A cosigner is normally either a parent or a guardian, someone who is willing to effectively guarantee the repayments in the event that the applicant fails to meet the payments themselves or for any reason defaults on the loan. One of the most common reasons for refinancing a car loan is when for a number of reasons case either has to come off the original loan. This can either be done to circumstances in the cosigners own life or financial situation, or because there have been problems with the other applicants payment history and the cosigner no longer feels able or capable of being a co-signor on the original loan.

Improved credit

It is quite possible that during the period of a loan the individuals credit history will improve. This is especially true if the individual has had a poor or bad credit when taking out the loan, and has taken significant steps to improve his credit score during the term of the loan itself. In the event of an improved credit history and subsequent credit score, it makes a lot of sense for the individual to refinance the original loan, and either save a significant about money, get a better rate of interest or generally better terms and conditions.

Refinance Car Loan – information

Refinancing a car loan is in some ways the same as applying for the original loan, but there are certain information that the new lender is going to require as well. Having this information to hand can make the the whole process much easier and simpler. It is important to gather as much information about the car as you can. This information should have been given to you when you purchased the car, and should include very specific details of up manufacturing model and number and manufacturing details generally.

Make sure you also have inflation such as its servicing history, mileage, any warranties or extended warranties in place and any vehicle protection plans that were part of the original financing arrangements. The new lender is going to want to know details of the original loan. Who it was with, how much the original loan was for, how much has been paid off and if there had been any payment problems either by way of missed payments or late payments. The vendor is also going to want to know if there were any special terms and conditions applied to the original loan.

Refinance Car Loan – Problems

Before refinancing a car loan it is important to check certain things. Firstly check that you have all the information referred to above and that it is to hand when you approach a new lender. Find out if there are any financial penalties that may be imposed by the original lender if you terminate the loan early. If there are penalties charges find out what they are, and see if the total aggregate of these charges make the refinancing of the original loan worthwhile or not.

It is also important to check what extras were included with vehicle by way of things such as vehicle service contracts, special tire and wheel insurance policies, breakdown and mechanical protection plans etc. Sometimes is included as part of the loan agreement, and refinancing a loan might mean that you have to pay for them additionally. This is really just to simply check what the components of the original loan were, and if by refinancing the original loan you are going to have to pay again for certain items that were deemed to be part of the which loan agreement.

How Does Nissan Finance Work ?

Nissan Finance is the division of Nissan that offers help to customers looking to finance the sale or leasing of a new or used Nissan car, truck or van. Some of the most common questions include :

The attraction of obtaining dealership finance for many people is that it makes the process of buying or leasing a car simpler and easier because they are obtaining the finance for paying for it at the same time. Some people mistakenly think that in some way applying for finance from the dealership makes either the finance or the sale price of the car either simpler and cheaper.

In practice it doesn’t. If anything it can make it slightly more completed, as it blurs the lines between the two processes.

Nissan Finance – Sales

Nissan, and any Nissan dealership, want a potential customer base to really like the vehicle they have bought, and to have the financial means to pay for it without getting into any difficulties. To that end, it is important to realise that buying or leasing any Nissan vehicle is a fairly hefty financial investment and should be done after careful and thorough research. This research should apply both to the car or vehicle itself, and to the various means of financing it. The main decisions to make when deciding what type of car or vehicle to buy normally relate either to the type of vehicle itself, or to the price.

Nissan Finance – Loans

People either tend to decide that they want a particular model and then decide whether or not they can afford a new one when they need to buy second-hand or used, or they decide how much they can afford to spend and then look around to see what type of car fits their price bracket. Whichever way an individual decides to approach the process, it is important to go through a careful process and work out how much they can afford to repay for the loan or lease agreement.

Some people like to account what a loan is going to cost them on a monthly basis and then budget around that figure, whilst other people prefer to work out the overall cost of the loan over the loan agreement period, including interest, and approaching their finances and this angle. Nissan Finance is a term that can apply to either leasing the vehicle, or buying it outright either new or used.

Nissan Finance – Leasing

The option of leasing a Nissan vehicle has become a much more attractive one for a number of people over recent years. This in part is because Nissan, like other manufacturers, have started to push this as a sales option, aimed at people who would like to essentially own a new car but are unable to afford it. When someone releases a Nissan car or truck they are essentially renting it for a fixed period of time, like a hire car but with a number of important differences.

The individual effectively gets to own the car for a period of months/years with fairly strict conditions as to modifications they can make to the car, and financial penalties for excessive wear and tear or exceeding an agreed mileage allowance. The application process in terms of applying for Nissan Finance when leasing a vehicle is pretty much the same as when applying for credit generally. The main difference in terms of costs comes with what are known as lease end costs, which are the costs that can occur and be charged to the individual when the lease period expires and the car has to be returned.

Nissan Finance – Lease End Costs

When someone takes out a lease with Nissan, it will be for a fixed period of years, with the lease agreement specifying certain things such as the size of the down payment, the size of the monthly repayments and certain conditions regarding mileage and wear and tear. At the end of the lease period, or a few weeks beforehand, the vehicle will be independently inspected and a report produced as to its condition.

If there is excessive wear and tear or damage to the exterior interior that needs to be repaired, then this will be costed. The customer will then have the option of either paying for this when the lease expires, or having the work done themselves and returning the car with that work having been completed. The lease agreement will sometimes have a clause allowing the individual the option of purchasing the car from Nissan. If this clause is enabled, then the final sale price will take into account the costs of the work that needs doing.

Nissan Finance – Vehicle Protection

One of the attractions for many people off buying or leasing a new Nissan car or truck is the belief that with it comes a level of reliability that should mean there are no mechanical or structural problems with the vehicle. Of course there can occasionally be problems, but generally speaking this is true. In addition to the reliability of a new car or truck there will also be a long-term warranty that should give peace of mind concerning any potential problems they may be. If someone is buying a second-hand or used Nissan, then it is equally important to make sure that the warranty gives a high degree of peace of mind in the event of any mechanical breakdown, regarding costs of parts and labour. This needs to apply to all of the car including tires and wheels.

Nissan Finance – Loyalty Offers

Loyalty offers are in effect discounts which are aimed either at one off customers or recurring customers, or at certain groups of society such as those currently serve or have previously served in the military, students or college graduates, people with mobility problems and one or two other groups. Loyalty offers can also include special discounts either for certain other groups of people, or unspecified models at certain times of the year.

If someone has time on their side and can either wait, or has time to shop around, then there can be significant price differentials on a number of different models throughout the year. Research can easily show which models gives and what times of year best to buy them. It is also worth differentiating between loyalty offers that Nissan offer as a company, which should be available at all Nissan dealers, and offers that are made by individual dealerships as a way of attracting customers. Sometimes they will both overlap, but it is worth being clear as to which is which.

Nissan Finance and Insurance

Depending on whether you buy or lease a Nissan vehicle, there will be different insurance requirements imposed by the lender, in addition to whatever legal requirements there may be. A Nissan dealership may have arrangements from time to time with certain insurance companies who may offer preferential rates to Nissan owners.

GAP Insurance

Gap insurance is different from normal auto insurance and is intended to cover the difference between the final sale price of the vehicle, and its insurance value if it is written off or badly damaged in any way. In such an event its insurance value will be based on its current market value as determined by the insurance company, which is likely to be significantly less than the final sale price.

Nissan Owners Portal

This is a great facility Nissan offer online , where once you have registered your vehicle, you can access a wide range of information and facilities. You have access to an online Nissan e-store, which gives detailed information on genuine Nissan accessories and parts, and also provides a number of manuals and guides for vehicles as well Videos and other useful information. There are also sections on insurance, and how to find a Nissan certified repair shop in the event of a collision damage.

Nissan Finance and Refinance

Refinancing a car loan can make a lot of sense at any time of the loan, and can often result in significant savings, given the nature and structure of most car loans, where the interest element is often the largest part of the finance deal.

Nissan Vehicles – Reviews TBA

Nissan Versa Sedan

Nissan Versa Note

Nissan Sentra

Nissan Altima

Nissan Maxima

Nissan Leaf

Nissan 370 Z Coupe

Nissan 370 Z Roadster

Nissan GT – R

Nissan Juke

Nissan Rogue Sport

Nissan Rogue

Nissan Murano

Nissan Pathfinder

Nissan Armada

Nissan Frontier

Nissan Titan

Nissan Titan XD

Nissan NV Passenger

 

11 Ways To Get Best Deals On Chrysler Capital

Chrysler Capital is the finance division of Chrysler.

It helps customers to arrange credit to buy or lease any  Chrysler vehicle.

There are three or four main things to think about :

Whether to buy or lease

If buying, new or second hand

How to check your credit score

How to improve your credit score

How to get the best deal on price and finance

Many customers like the idea of being able to buy or lease a vehicle from Chrysler.

Deciding which vehicle to buy is usually the first step for most people.

Some people will arrange finance first to see how much they can afford to borrow, but generally speaking people will decide on the vehicle first, then see how much they can afford to borrow, then decide whether to buy a new or used one or possibly least one instead.

There is no right or wrong way of doing this, but it is a good idea to separate out the process of deciding which vehicle and how to finance it.

Whilst the two processors come together in the end. Separating them out and dealing with them separately does allow you a much greater degree of clarity and in the end should work out much cheaper.

1.Chrysler Capital Costs – Sales

Working out the costs of buying a new Chrysler car or truck involved number of steps. If buying a new vehicle, find out the list price, often referred to as the MSRP. it is standard practice to expect a reasonable discount on this price, anywhere between 10 and 15% is standard, and on occasions even slightly more might work. It is possible to drill down the numbers to what the dealership is paying Chrysler, and then work out how much you are willing to pay the dealership.

It is possible to work this out almost as an exact science, but be aware this can be very time-consuming and quite exacting. Aside from the list price that are likely to be other costs involved, notably some type of registration fee for the title of the vehicle, possibly a local or regional sales tax and what are referred to as document fees. Document fees are a very general term for dealership paperwork which is often fairly minimal, but which can actually include significant costs. The important thing is to get the dealership to disclose exactly what these costs are before any final sale price is agreed. There are also likely to be certain incentives by way of inducements, detailed below.

2.Chrysler Capital Costs – leasing

For many people, leasing a Chrysler vehicle has become an attractive option, and one actively encouraged by Chrysler itself. The main attraction for many people is that it allows them to effectively own a Chrysler car or truck but at a significantly reduced cost to actually buying it outright. Of course they do not actually own the vehicle, it is better to think of it as a long-term rental with certain restrictions, and certain costs at the end of the lease period.

3.Chrysler Capital Lease Benefits

The main benefit of leasing a Chrysler car or truck is often the sense of the new car feel. With this comes significant savings in terms of costs, as leasing a vehicle should work out much cheaper on a monthly repayment basis than it was bought new. A Chrysler dealership will often offer special deals regarding the leasing of a vehicle, including preferential terms to buy the vehicle at the end of the lease. There are also likely to be significant benefits in terms of warranty given that leasing a Chrysler vehicle should mean that it has a manufacturers warranty covering both parts and labor, which is often a huge bonus for customers giving them peace of mind and a much greater degree of security when driving the vehicle.

4.Lease End Costs

The practicalities of a lease on in many ways similar to that of buying a car or truck. Both sides enter into a contract for a fixed period of time, which cannot normally range from between 2 to 5 years, with a fixed monthly repayment cost for the period of the lease agreement. There will also be a fixed mileage allowance either for the overall length of the lease or on a yearly basis. It is possible to buy extra mileage during the least period itself, or to pay an excess charge at the end of the lease.

When the lease finishes, that are what on name as lease and costs which essentially referred to excessive wear and tear both inside and outside the vehicle. An assessment will be made of the vehicle, its exterior, its tires and wheels, its interior, all glass areas and any mechanical or engineering parts of the vehicle that have been replaced to make sure they had been replaced with manufacturers parts. Any excessive wear and tear either inside or outside will be charged in accordance with the terms and conditions of the lease which should be agreed at the outset of the lease period.

5.Chrysler Capital Incentives

Incentives are a common feature of all Chrysler sales and leasing dealerships, and can also be offered on a national basis as well. They are simply a way of discounting the cost of the vehicle, and like any discount should be taken in context as to what they are discounting from. Incentives are sometimes offered on certified pre-owned vehicles, and to customers who have been pre-screened for approval for Chrysler capital financing. In addition, incentives are often offered to people who are serving or who have served in the military, students and possibly other categories of people.

Incentives can also include cash rebates on the sale price of the vehicle, an unconditional price for a trading of your old vehicle and often deals on servicing and maintenance plans. Chrysler may at times have arrangements with certain insurance companies who can offer preferential rates on auto insurance to selected customers. Incentives can also be offered by Chrysler on a national basis relating to discounts at certain times of the year, or discounts on certain types of vehicle possibly at different times of the year as well. These incentives are normally about shifting inventory which has either not sold or is being upgraded to newer models.

6.Chrysler Capital Vehicle Protection Plans

Vehicle protection plans differ widely depending on whether the vehicle is being bought or leased, and whether it is a new or a used Chrysler car or truck. Generally speaking vehicle protection plans cover vehicle service contracts, servicing and maintenance contracts, warranties, roadside assistance and emergency contact plans. What is really important is to find out what the manufacturer is offering, what the dealership is offering and which best meets your needs.

Servicing and maintenance contracts can often be negotiated with the dealership as part of the sales process, where as roadside assistance plans can sometimes also be included in auto insurance policies. The main value of vehicle protection plans is to give some degree of stability both in terms of finance and in terms of usability of the car or truck once it has been been bought or leased.

7.Credit Rating – Credit Score and Credit Report

Anyone looking to buy or lease any Chrysler car or truck will need to fill out an application form which will be used as a basis for establishing their credit report and their credit score. The credit score will be used as a basis for Chrysler determining whether or not to agree finance, and if so on what terms and conditions. It is a good idea before beginning the process of trying to arrange finance to get hold of a copy of your credit report, and check that the information in it is accurate and up-to-date. If not it can be changed, which should have a positive impact on your credit score and subsequently on any credit or finance you may arrange and the terms and conditions upon which it is done.

8.Chrysler Capital Account and finance tools

Opening an account with Chrysler Capital has a number of benefits both before and after any sales or leasing agreement is entered into. It allows the customer to obtain approval in principle for some type of finance or credit, subject to approval, and may allow access to certain deals on pre-certified owned vehicles. It allows the customer access to a range of finance tools that can include online calculator costs, and other helpful information regarding any loan agreement that might be entered into.

After a sales or leasing agreement has been concluded, the customer account gives them access to a wide range of helpful information, including various manuals for the vehicle itself, access to payment schedules and information and contact information for any problems they may be regarding payment or other issues.

9.Insurance

Whilst most people will be aware that there will be some legal requirement for auto insurance regarding third-party liability, they may not be aware that the Chrysler dealership may well require them to take out a much wider level of insurance, regarding both bodily injury and physical damage liability, collision coverage and comprehensive coverage. This will depend on the nature of the loan or lease agreement. It is worth being aware that insurance companies use different terminology regarding the basis of auto or car insurance, and people should be aware of what the legal requirements are in the area which they live, and also the area in which they buy or lease the car if different.

10.Gap Insurance

Gap Insurance is also likely to be a factor in any sales or lease agreement with Chrysler capital, or a Chrysler dealership. This type of insurance is designed to cover the difference between the final agreed sale price of the vehicle and the amount the insurance company would pay out if it were involved in a serious accident or was a write-off. In this event, the insurance company would pay what it deemed to be its market value, which in reality would be significantly less than the final sale price agreed with the dealership. The difference between the two would be a debt effectively owned by the customer, and gap insurance is designed to cover this difference.

11.Refinance Chrysler Capital Loans

Any loan can be refinanced actually much any point in the period of the loan. Given that the repayment costs for the first year 18 months of most loans are largely interest only, it can often make sense to refinance early on in the loan. People refinance for a number of reasons, sometimes to reduce their monthly repayment costs, sometimes to increase them if they want to pay off the loan early, sometimes a cosigner will need to come off the loan and sometimes the reason will be to take advantage of a better annual rate of interest. The process of applying to refinance Lane is fairly similar to that of applying for the loan in the first place and is in fact much simpler than most people seem to realise.

CHRYSLER VEHICLES – Reviews TBA

2017 Chrysler 300

2017 Chrysler pacifica

2017 Chrysler Pacifica Hybrid

Dodge Vehicles

Dodge 2017 Charger

Dodge 2017 Challenger

Dodge 2017 Viper

Dodge 2017 Journey

Dodge 2017 Durango

Dodge 2017 Grand Caravan

Jeep Vehicles

Jeep 2018 Compass

Jeep 21017 Grand Cherokee

Jeep 2017 Cherokee

Jeep 2017 Renegade

Jeep 2017 Wrangler Jk

Jeep 2017 Patriot

Ram Trucks

Ram 1500

Ram 2500

Ram 3500

Ram 3500 SRW 10K GVWR Chassis Cab

Ram 3500 Chassis Cab

Ram 4500 Chassis Cab

Ram 5500 Chassis Cab

Ram Promaster City Tradesman

Ram Promaster City Wagon

Ram Promaster Cargo Van

Ram Promaster Window Van

Ram Promaster Chassis Cab

Ram Promaster Cutaway

Fiat Vehicles

Fiat 500X

Fiat 500

Fiat 124 Spider

Fiat 500L

Fiat 500E

 

 

 

 

 

 

 

Best Used Auto Refinance Rates

When refinancing a used auto, it is important to understand the process of how a refinancing deal is put together, and the various factors that affect the rate that is charged by the new lender.

Because it is a used auto, people assume that the refinance rates are likely to be higher, whereas refinancing any car loan is a mixture of two or three main factors. First and most important one is the credit score and credit report of the individual who is refinancing  the loan.

That credit report and subsequent credit score may have changed since the original loans taken out, either for better or worse, and this will have a knock-on effect on whatever loan rate is charged for the refinancing deal.

Best Used Auto Refinance Rates

The other factor is that it is a used auto. For some lenders the specs a difference, based on the fact that statistically people who buy used autos are not deemed to be as good credit risks as people who buy new ones, which obviously isn’t necessarily true but statistics can be used in many different ways.

The other factor with a used auto is that it can be harder to establish its true value, depending on the car or truck, how old it is, it’s age and mileage. As any loan is effectively secured against the car, establishing its value and what it is worth can be a key element of the whole refinancing package.

It is a bit of  a cliche but is true, that getting the best used auto refinance rates is about shopping around different lenders, and making sure you can compare them on a like-for-like basis.

Some people believe that the best credit terms can be got by going to the manufacturer direct, other people believe that lenders such as a credit union offer best deals. Like any underwriting of any risk, lenders will have their own criteria and they will differ in certain key areas.

For that reason it is worth checking different lenders and seeing  what they are quoting, and on what basis it is being done.