an I Refinancing My Used Car Loan Through My Dealer?
The typical car buyer on a budget is going to opt for a used car as opposed to a new car. This is because used cars depreciate less, cost less to insure and feature lower sticker prices. If you finance your car purchase, can you refinance your used car loan in the future?
Refinancing Is Always an Option
You always have the option of refinancing your car. Some common reasons why you may want to refinance include:
- Taking Advantage Of Lower Interest Rates
- Extending The Loan Period
- Increasing Your Monthly Payment To Pay Off The Car Sooner While Paying Less Interest
These are all valid reasons for wanting to change the terms of your loan. Generally, Ontario Auto Approval will look at your credit score, credit history before deciding whether or not to approve your refinancing request, but don’t let bad credit stop you from applying. We specialize in sub prime financing, and can work with any credit score.