When it comes to home financing, almost all homeowners are aware that they can refinance their mortgage in order to save thousands of dollars per year. But, many consumers are unaware that they can refinance their car loan and save even more.
Most vehicle owners are under the assumption that the monthly payment amount assigned when they purchase their car is the payment they’re locked into for the life of the loan. That’s actually completely untrue. In fact, some of the worst financing deals consumers get are those for car loans. When most consumers purchase a vehicle, they get sucked into the hype of owning a new car. Let’s face it - for most of us, the purchase of a new vehicle is an exciting experience. So, by the time we make our way to the financing guy at the dealership, we’re already mentally committed to purchasing the vehicle. Auto dealers know this all too well. The finance companies that back the dealerships know it even better. For them it’s easy financial pickin’s.
For the buyer, it’s often about a month after the purchase that reality sets in. The car isn’t as sparkly as it was when it was first driven off the lot. It’s already starting to lose that new car smell, and… the first payment becomes due! The realization of a 10, 15, or event 20+ percent interest rate comes true. Yes, 20%+ interest rates on car loans really do exist. By now it’s too late. The deal is done. The cooling-off period, which many states have, has long expired and there’s no way out. Or is there?
The good news is consumers can quite easily free themselves from the trap of a poorly-negotiated auto loan. But how? Simply by refinancing it. But, how does one go about that? You can walk into most banks, ask to refinance your mortgage and a crew of eager loan officers will be all over you in a flash. Ask about refinancing your car loan the response will not be the same. In fact, you’ll likely get some strange looks. Although some banks do offer auto refinancing, it’s not a widely-offered product, and will be hard to find.
But, there’s still salvation from the quagmire of high interest rates and financing deals gone bad. Meet National Auto Loan Network, the knight in shining armor when it comes to rescuing consumers from bad car loans. National Auto Loan Network (NALN) is a niche company specializing only in refinancing vehicle loans. They’ll pay off your existing loan, then set you up with a new loan at a reduced interest rate and term of your choosing. You can apply online and they handle all the paperwork for you. No office or in-person visits. NALN covers all 50 states and is backed by a strong network of finance partners who they work with to negotiate significantly lower interest rates for each customer. New loans are further enhanced by offering up to $1,000 cash back and no payments for 90 days. NALN also offers optional GAP insurance and Anti-Theft etching services as part of the loan package.
For more information about auto loan refinancing, National Auto Loan Network can be found at https://naln.com, or by phone at 888-391-3504, option #1. NALN’s team of skilled loan officers are ready to help out.