Need some extra money every month in order to keep your self current with your bills? Auto refinance loan, maybe an option that can help you make ends meet. If you purchased the car when your credit was in bad shape and it has since improved you may be able to lower your payments and save some money each month and over the life of the loan. This is especially true if you are at the front end of the loan say in years one or two. If you’re well into the loan say 3 years on a 5 year loan, maybe not so much. Like many loans, auto loans are front end loaded and the first couple years you are paying more interest than principal. If you’re well into the loan you may really add to the total cost even though the payment may be lower. If you are extending the terms of the loan as well, your cost may be much higher and the interest more than likely not deductible.

There are also some general requirements before most bad credit car loan refinance lenders will consider a refinance loan:

• The vehicle must be from the last 5 model years, some refinancers will do 7 years
• You must owe less than the vehicle is worth, get the payoff figure from your current lender and compare it to the value which can be obtained from several online sources
• You must not be in default to the current lender and have no late payments in the last 6 months

At the LoanexFastCash.com we have lenders who are ready to consider refinancing your car if you meet the above criteria. Refinancing can benefit you with a lower payment and could even shorten the term of your loan if you wanted to explore that option.

Let us connect you to the automobile refinance with bad credit lenders who can provide the information about refinancing to see if it will save you money every month and over the life of the loan. We have the expertise give us the opportunity to refinance your car. It’s a simple process of exchanging one loan agreement for another and can often be accomplished in less than a week’s time.