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auto loan refinance calculator
An auto loan refinance calculator is an invaluable tool that can drastically improve the state of your finances by helping you make informed decisions in regards to your car expenditures. We spend a lot of money on our cars. Just think, month after month we send in our monthly payments like clockwork. And for how long? 36, 48, 60 months? Maybe even more on some loans? Now, recall all the money that we spend on gas, upkeep, and insurance premiums. We literally spend thousands upon thousands of dollars by the time our auto loans are repaid.
If we are going to spend that much money on something that is basically a consumer item and not a primary asset, then we better make sure to take advantage of any expense breaks that come our way. One particular type of break that has the potential of saving us thousands of dollars is the auto refinance loan. But how do we know if an auto refinance offer is worth our consideration? An auto loan refinance calculator can help you make sense of all the figures involved, allowing you to know with great accuracy and confidence how much you will be saving and on what terms. Here's a primer on how to use one effectively.
1. Determine Where You Currently Stand
The first thing you'll want to do is determine how much principal and interest you have remaining on your current loan. So, enter the original principal, interest rate, loan length, and first payment date of your original loan into your calculator. Then, populate the amortization schedule to see what your remaining balances are as of today.
Note: An alternative to running the calculations is calling your lender and getting a payoff quote. This amount is the remaining principal plus any interest and fees that you'd have to pay if you wanted to payoff the loan within a set number of days (most lenders use ten days as a benchmark). You can also ask for the remaining interest balance. Calling your lender is worth your time since you're getting the figures straight from the horses mouth and they'll be really accurate.
2. Analyze a Refinance Offer
Enter the remaining principal (or payoff amount) into the auto loan refinance calculator. Then, enter the proposed interest rate, length of time, and first payment date for the auto refinance loan. If the total interest expense under the new loan is noticeably lower than the remaining interest balance of your current loan, it is a strong indication to refinance...
Learn about other important figures that you must consider in order to make an informed decision on whether or not to refinance, and on what terms, by visiting http://autorefinancecalculator.org. The website has a free, easy-to-use auto loan refinance calculator and a fully detailed tutorial on how to use it, with examples.
If you want to learn more about the particulars of auto refinance loans, visit http://autorefinanceloans.org.
Article Source: http://EzineArticles.com/?expert=Blaine_B_Smith
If we are going to spend that much money on something that is basically a consumer item and not a primary asset, then we better make sure to take advantage of any expense breaks that come our way. One particular type of break that has the potential of saving us thousands of dollars is the auto refinance loan. But how do we know if an auto refinance offer is worth our consideration? An auto loan refinance calculator can help you make sense of all the figures involved, allowing you to know with great accuracy and confidence how much you will be saving and on what terms. Here's a primer on how to use one effectively.
1. Determine Where You Currently Stand
The first thing you'll want to do is determine how much principal and interest you have remaining on your current loan. So, enter the original principal, interest rate, loan length, and first payment date of your original loan into your calculator. Then, populate the amortization schedule to see what your remaining balances are as of today.
Note: An alternative to running the calculations is calling your lender and getting a payoff quote. This amount is the remaining principal plus any interest and fees that you'd have to pay if you wanted to payoff the loan within a set number of days (most lenders use ten days as a benchmark). You can also ask for the remaining interest balance. Calling your lender is worth your time since you're getting the figures straight from the horses mouth and they'll be really accurate.
2. Analyze a Refinance Offer
Enter the remaining principal (or payoff amount) into the auto loan refinance calculator. Then, enter the proposed interest rate, length of time, and first payment date for the auto refinance loan. If the total interest expense under the new loan is noticeably lower than the remaining interest balance of your current loan, it is a strong indication to refinance...
Learn about other important figures that you must consider in order to make an informed decision on whether or not to refinance, and on what terms, by visiting http://autorefinancecalculator.org. The website has a free, easy-to-use auto loan refinance calculator and a fully detailed tutorial on how to use it, with examples.
If you want to learn more about the particulars of auto refinance loans, visit http://autorefinanceloans.org.
Article Source: http://EzineArticles.com/?expert=Blaine_B_Smith
bouncing back from bad credit
Is the high APR on your car weighing you down? Are you having a hard time bouncing back from bad credit because of the ballooning interest rates of your old auto loan? Don’t worry – you have choices. Bad credit auto loan refinancing now makes it possible for you to enjoy lower rates and longer terms, so that you can worry less about your car loan bills and focus your energy into rebuilding your flawed credit.
What can auto loan refinancing do for your credit? Refinancing your auto loan can significantly reduce the rate you are paying and save you a lot of money that you can use to pay off the debt that is making your credit rating sink, in the first place. Bad credit auto refinancing companies pay off your current car loan, and then restructure the amount you still owe to be more manageable.
How long does it take? Most companies can process your loan in as little as two working days, but it could take you a good one to two weeks to get everything in order if you cannot produce the documentary requirements right away.
How much will you save? Thousand of dollars per year. Let’s say that you are currently paying off an auto loan worth $16,000 at 21 percent interest rate. This means that your monthly amortization is around $400 or more over 60 months. When you refinance to a 6-percent-per-annum deal, your monthly amortization could go down to $300 or less. You save at least $100 monthly, or $1,200 a year, or $6,000 in 60 months.
Will auto loan refinancing be good for you? Probably. If you are one of the many people who pay more than 3% APR on a car loan, then you should definitely consider refinancing. It’s easy to see why. Even just one percent deducted from your current interest rate can translate to hundreds of dollars in savings per year! Take time to do some simple math, and you’ll be amazed at how much money you can save just by applying for auto loan refinancing. It’s time you took charge. After all, it is your money.
Bad Credit Auto Loans provides detailed information on Bad Credit Auto Loans, Bad Credit Auto Loan Financing, Bad Credit Auto Loan Refinancing, Bad Credit Auto Loan Online and more. Bad Credit Auto Loans is affiliated with Bad Credit Car Loan Rates.
Article Source: http://EzineArticles.com/?expert=Josh_Riverside
What can auto loan refinancing do for your credit? Refinancing your auto loan can significantly reduce the rate you are paying and save you a lot of money that you can use to pay off the debt that is making your credit rating sink, in the first place. Bad credit auto refinancing companies pay off your current car loan, and then restructure the amount you still owe to be more manageable.
How long does it take? Most companies can process your loan in as little as two working days, but it could take you a good one to two weeks to get everything in order if you cannot produce the documentary requirements right away.
How much will you save? Thousand of dollars per year. Let’s say that you are currently paying off an auto loan worth $16,000 at 21 percent interest rate. This means that your monthly amortization is around $400 or more over 60 months. When you refinance to a 6-percent-per-annum deal, your monthly amortization could go down to $300 or less. You save at least $100 monthly, or $1,200 a year, or $6,000 in 60 months.
Will auto loan refinancing be good for you? Probably. If you are one of the many people who pay more than 3% APR on a car loan, then you should definitely consider refinancing. It’s easy to see why. Even just one percent deducted from your current interest rate can translate to hundreds of dollars in savings per year! Take time to do some simple math, and you’ll be amazed at how much money you can save just by applying for auto loan refinancing. It’s time you took charge. After all, it is your money.
Bad Credit Auto Loans provides detailed information on Bad Credit Auto Loans, Bad Credit Auto Loan Financing, Bad Credit Auto Loan Refinancing, Bad Credit Auto Loan Online and more. Bad Credit Auto Loans is affiliated with Bad Credit Car Loan Rates.
Article Source: http://EzineArticles.com/?expert=Josh_Riverside
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Refinancing is something that you may be hearing a lot
Refinancing is something that you may be hearing a lot these days. The economy has been hard hit and people are looking to save money. Refinancing is a way of trying to lower your costs. Refinancing a loan means that another lender loans you the money to pay off the primary loan. The idea is that a lower interest rate is paid and the terms are extended. This is a great way to save money.
Lower Interest
The lower the interest rate is on the loan, the lower the monthly payments will be. Not only that, but if you make your minimum monthly payments, the total cost of the loan is lower as well. This can mean big savings over the life of a loan.
Better Terms
A loan term is the length of time the loan lasts before it is finally paid off. The short term loans will have a higher monthly payment than a longer term loan. Terms are important to understand. Short term loans at low interest rates can increase your monthly payment, but will cost less overall. Longer loans at low interest rates will cause the payments to drop, but will increase the total cost of the loan.
Pay off Faster
One of the reasons people refinance is to pay off the loan faster. Even people that take longer terms may be able to pay off the loan faster than if they did not refinance. They take the money that they save on a month to month basis and apply that to the principle of the loan. This cuts down on the amount of time it takes to pay the loan as well as the total cost of the loan
Auto refinancing makes perfect sense. It can free up extra money every month or even allow you to get out of debt faster. You can save money, pay off other bills, or pay off the vehicle faster than before. Refinancing can provide you with more opportunities than you thought possible. Contact a specialist to find out how they can assist you.
Note: Generally, direct auto loan lenders offer lower auto loan rates. They are the way to go to save money in your next car loan application.
Hector Milla runs the http://www.LowestAutoLoanRates.net website, where you can get an instant approval auto loan regardless of your credit.
Article Source: http://EzineArticles.com/?expert=Hector_Milla
Lower Interest
The lower the interest rate is on the loan, the lower the monthly payments will be. Not only that, but if you make your minimum monthly payments, the total cost of the loan is lower as well. This can mean big savings over the life of a loan.
Better Terms
A loan term is the length of time the loan lasts before it is finally paid off. The short term loans will have a higher monthly payment than a longer term loan. Terms are important to understand. Short term loans at low interest rates can increase your monthly payment, but will cost less overall. Longer loans at low interest rates will cause the payments to drop, but will increase the total cost of the loan.
Pay off Faster
One of the reasons people refinance is to pay off the loan faster. Even people that take longer terms may be able to pay off the loan faster than if they did not refinance. They take the money that they save on a month to month basis and apply that to the principle of the loan. This cuts down on the amount of time it takes to pay the loan as well as the total cost of the loan
Auto refinancing makes perfect sense. It can free up extra money every month or even allow you to get out of debt faster. You can save money, pay off other bills, or pay off the vehicle faster than before. Refinancing can provide you with more opportunities than you thought possible. Contact a specialist to find out how they can assist you.
Note: Generally, direct auto loan lenders offer lower auto loan rates. They are the way to go to save money in your next car loan application.
Hector Milla runs the http://www.LowestAutoLoanRates.net website, where you can get an instant approval auto loan regardless of your credit.
Article Source: http://EzineArticles.com/?expert=Hector_Milla
aware of refinancing
The housing boom and bust of the early twenty-first century made everyone aware of refinancing. By going with a new lender, homeowners could (and still can) pay off their existing liens and get a far better rate on a new loan against their homes. What many forget, however, is that refinancing is available with just about any financial product, and that includes auto loans.
When drivers look into refinancing their car loans, they often find that they can save $1,000 or more over the life of the loan if they get the right terms. The cheapest rates are usually available through Internet banks and lenders, and since there are so many of them competing in the marketplace, consumers need to know how to find the most trustworthy auto refinancers. Fortunately, trustworthy and noble auto lenders have the following attributes in common:
1. Clear language - Reading the terms and conditions for an auto loan should not be like reading a book for the bar exam. Interest rate charges, late payment penalties, approval processes, and more should all be laid out in plain English. Companies who have something to hide will make the language really confusing or they will try and hide things in the fine print. These lenders are to be avoided.
2. A solid reputation - Good lenders will have an established reputation of fairness and quality service and this information will be easily accessible online. Those banks and credit unions with poor ratings should be avoided at all cost.
3. Convenient, easy-to-use services that benefit the borrower - Great online car loans will be offered by companies that allow online access to one's account and ability to pay through automatic withdrawal. These same companies will offer good discounts on interest rate charges for those who elect such services.
Trustworthy auto refinancers are not difficult to find provided that these tips are kept in mind. Following them will save money and give the borrower peace of mind.
Note: Generally, direct auto loan lenders offer lower auto loan rates. They are the way to go to save money in your next car loan application.
Hector Milla runs the http://www.LowestAutoLoanRates.net website, where you can get an instant approval auto loan regardless of your credit.
Article Source: http://EzineArticles.com/?expert=Hector_Milla
When drivers look into refinancing their car loans, they often find that they can save $1,000 or more over the life of the loan if they get the right terms. The cheapest rates are usually available through Internet banks and lenders, and since there are so many of them competing in the marketplace, consumers need to know how to find the most trustworthy auto refinancers. Fortunately, trustworthy and noble auto lenders have the following attributes in common:
1. Clear language - Reading the terms and conditions for an auto loan should not be like reading a book for the bar exam. Interest rate charges, late payment penalties, approval processes, and more should all be laid out in plain English. Companies who have something to hide will make the language really confusing or they will try and hide things in the fine print. These lenders are to be avoided.
2. A solid reputation - Good lenders will have an established reputation of fairness and quality service and this information will be easily accessible online. Those banks and credit unions with poor ratings should be avoided at all cost.
3. Convenient, easy-to-use services that benefit the borrower - Great online car loans will be offered by companies that allow online access to one's account and ability to pay through automatic withdrawal. These same companies will offer good discounts on interest rate charges for those who elect such services.
Trustworthy auto refinancers are not difficult to find provided that these tips are kept in mind. Following them will save money and give the borrower peace of mind.
Note: Generally, direct auto loan lenders offer lower auto loan rates. They are the way to go to save money in your next car loan application.
Hector Milla runs the http://www.LowestAutoLoanRates.net website, where you can get an instant approval auto loan regardless of your credit.
Article Source: http://EzineArticles.com/?expert=Hector_Milla
If you feel like you are paying too much on your auto loan
If you feel like you are paying too much on your auto loan, you may be able to lower your expenses with an auto loan refinance. What is it? Auto refinancing replaces an existing loan with another loan. You benefit by getting better terms on the new loan, either getting lower monthly payments, or lowering the total interest paid by the end of the loan term, or even both if it's a really sweet refinance deal. The refinancing company benefits by gaining a new customer. Auto loan refinancing is usually an easy and quick process. Just fill out a few no-obligation applications, wait for some offers to come in, and transfer the loan. But you should know about some of the common requirements needed to get a request approved.
General Auto Lending Requirements
Applying for an auto loan refinance is just like applying for a brand new loan, just like you did with the original loan. So, the general loan industry requirements are still applicable. You have to be at least 18 years old and have a valid driver's license. You'll need to provide records of stable employment and adequate income. Employment and income minimums are different amongst the many lenders out there, but generally at least one year with the same employer(s), and making a gross annual income of $18,000-$25,000 should get most people approved for most auto refinance loans. Another major item that you need is proof of full-coverage insurance.
Minimum and Maximum Loan Amounts
Each auto refinancer will require a minimum auto loan refinance amount, and set a maximum limit to the amount you can refinance. These thresholds vary with each lender. In general, however, you will find that most lenders will require refinancing for at least $7,500. Anything less than that will not be considered profitable enough (i.e. interest). Conversely, $75,000 is the average maximum amount that a lender is willing to refinance. Anything more than that will be deemed as too risky.....
More auto refinance requirements are covered at http://autorefinanceloans.org/auto-loan-refinance
See how much money you can save by refinancing with the auto refinance calculator found at http://autorefinancecalculator.org
Article Source: http://EzineArticles.com/?expert=Blaine_B_Smith
General Auto Lending Requirements
Applying for an auto loan refinance is just like applying for a brand new loan, just like you did with the original loan. So, the general loan industry requirements are still applicable. You have to be at least 18 years old and have a valid driver's license. You'll need to provide records of stable employment and adequate income. Employment and income minimums are different amongst the many lenders out there, but generally at least one year with the same employer(s), and making a gross annual income of $18,000-$25,000 should get most people approved for most auto refinance loans. Another major item that you need is proof of full-coverage insurance.
Minimum and Maximum Loan Amounts
Each auto refinancer will require a minimum auto loan refinance amount, and set a maximum limit to the amount you can refinance. These thresholds vary with each lender. In general, however, you will find that most lenders will require refinancing for at least $7,500. Anything less than that will not be considered profitable enough (i.e. interest). Conversely, $75,000 is the average maximum amount that a lender is willing to refinance. Anything more than that will be deemed as too risky.....
More auto refinance requirements are covered at http://autorefinanceloans.org/auto-loan-refinance
See how much money you can save by refinancing with the auto refinance calculator found at http://autorefinancecalculator.org
Article Source: http://EzineArticles.com/?expert=Blaine_B_Smith
auto loan
Given the current economic recession in the entire world, average consumers in America are having financial difficulties. In these difficult times, people are in need of instant debt relief through any source that could help them get back on their feet. If you refinance your auto loan, you not only get the benefit of lower monthly payment, but you can also get rid of other debts like mortgage or credit card debt.
Hence, if you have an auto loan but you are looking to take advantage of a lower interest rate and a new payment plan, then you should perhaps consider applying with a direct lender for refinancing auto loan.
By choosing auto refinancing through a direct lender, you are obviously saving hard earned money because you are not paying any commission. Moreover, direct lenders are the financial institutions that offer lower interest rates so you do not have to worry about paying bigger amounts.
The best thing about direct lenders is that you quickly get approved. Auto loan refinancing with a direct lender can get you approved at the same day which means that you can get a check the very next day after applying. An additional benefit is that usually the reputable and trusted direct lenders have lists of auto dealers where you can shop the car. You can just show up and leave the paper work at the dealership along with your new car which means that you get a good deal and you might be offered some special offer.
Direct auto lenders are certified and registered and you can check them at the Better Business Bureau. This gives you the satisfaction of trusting the lender and you can be sure that you are dealing with a reliable loan provider. You can do a little research of your own and compare the quotes on the internet. This way, you can find the cheapest available interest rate and determine which one is the most suitable for you.
Note: Generally, direct auto loan lenders offer lower auto loan rates. They are the way to go to save money in your next car loan application.
Hector Milla runs the http://www.LowestAutoLoanRates.net website, where you can get an instant approval auto loan regardless of your credit.
Article Source: http://EzineArticles.com/?expert=Hector_Milla
Hence, if you have an auto loan but you are looking to take advantage of a lower interest rate and a new payment plan, then you should perhaps consider applying with a direct lender for refinancing auto loan.
By choosing auto refinancing through a direct lender, you are obviously saving hard earned money because you are not paying any commission. Moreover, direct lenders are the financial institutions that offer lower interest rates so you do not have to worry about paying bigger amounts.
The best thing about direct lenders is that you quickly get approved. Auto loan refinancing with a direct lender can get you approved at the same day which means that you can get a check the very next day after applying. An additional benefit is that usually the reputable and trusted direct lenders have lists of auto dealers where you can shop the car. You can just show up and leave the paper work at the dealership along with your new car which means that you get a good deal and you might be offered some special offer.
Direct auto lenders are certified and registered and you can check them at the Better Business Bureau. This gives you the satisfaction of trusting the lender and you can be sure that you are dealing with a reliable loan provider. You can do a little research of your own and compare the quotes on the internet. This way, you can find the cheapest available interest rate and determine which one is the most suitable for you.
Note: Generally, direct auto loan lenders offer lower auto loan rates. They are the way to go to save money in your next car loan application.
Hector Milla runs the http://www.LowestAutoLoanRates.net website, where you can get an instant approval auto loan regardless of your credit.
Article Source: http://EzineArticles.com/?expert=Hector_Milla
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