Don't know where to begin when looking to refinance your auto loan?
You’ve decided that your current auto loan rate is way too high and you want to see what other options are out there and available to you. When it comes to refinancing your auto loan, there are three things you’re going to want to keep in your mind.
It’s no secret that your auto loan depends largely on your credit score, and the higher the credit score, the better your loan rate will be. When you first decide you’d like to start the auto refinance process, it’s important to look at your credit score. Has your credit score improved since you took out your original auto loan? If you’ve seen a rise in your credit score, then chances are you’re in a perfect place for a lower interest rate. If you haven’t seen too much of a change, it might still be a good idea to talk to Tropical Financial and see how we can help you get to a more appealing credit score.
There are a few ways for you to review your credit score to see where you stand; first, you can always go to annualcreditreport.com. Annual Credit Report allows you to pull on free credit report each year. You can also turn to credit karma, or you can schedule a free financial checkup with Tropical Financial to see where your credit is and work with a financial advisor to get you on a plan to have you refinancing before you know it.
Now that you’ve figured out where you stand, there are a few documents you’re going to need when you start your auto refinancing process.
TFCU is in your corner, and we want to help you save as much money as possible. Maybe when you first applied for your auto loan, you went to the dealership or another financial institution. That’s okay because we are here to help you with the refinancing process.
Refinancing is a great option for those interested in a lower APR or for those looking to lower their car payment. To contact someone about auto refinancing click below: