If you’re looking for better Chrysler finance terms, there are a few options to consider. One is refinancing, which can help you improve your interest rates or reshape your loan terms entirely. Courtesy of Brunswick Auto Mart, here’s a simple guide to refinancing your Chrysler car loan.
Is Refinancing Right for You?
Refinancing isn’t the best choice for everybody, but depending on your terms, it might lower your financing expenses. If you have a better credit score compared to when you first applied, refinancing is a great option. You might be able to secure a loan that lasts just as long as the remainder of your current financing plan, but with a lower interest rate — which will reduce your monthly payments and total interest costs.
Refinancing is also a good option if:
- You don’t have a prepayment penalty
- You want to reduce your monthly car payments by getting a longer term length
- Your vehicle is still relatively new and has positive equity
How to Refinance Your Car Loan
Refinancing a car loan isn’t different from applying for a new one. You’re simply transferring your car from one lender to another by paying off your initial loan and shifting the remaining balance to another. Make sure to have your license, registration, proof of insurance, pay stubs, and a loan payoff amount statement from your present lender.
Our dealership works with several financial institutions that assist drivers looking to refinance their Chrysler car loans. You can directly compare new interest rates to the ones you currently pay. Once you find an offer with a lower monthly payment or better terms, you can apply to have your current loan transferred over.
Explore Chrysler Finance Options in Brunswick, OH
Our dealership can help you determine if refinancing is right for you. Contact Brunswick Auto Mart today to discuss your terms with our financing experts and explore different options.
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