Compare Auto Insurance Rates In Minutes, Progressive, best auto insurance rates.#Best #auto #insurance #rates


Compare Car Insurance Rates

See how our auto insurance rates stack up against others’

Compare auto insurance rates in just a few minutes

It’s the smart way to shop: pick the coverages you want, then compare car insurance rates for the exact same coverages at a handful of companies. It’s fast. It’s easy. It’s all online. Try it now to find your best rate. If you’re looking for even more savings, then check out our auto insurance discounts.

Start a quote and compare rates in a few simple steps

Fine-tune a policy

Get a car insurance quote and then pick the coverage package you want to use to compare insurance rates.

Compare rates

After you answer all the questions for your quote, we’ll show you our rate first. Then look for the compare rates callout to see rates from other insurers.

Find the best policy

With all the prices in front of you, your biggest insurance savings stand out and the winner is clear.

Two ways to quote. Tons of ways to save.

  • Home
  • Insurance
  • Auto Insurance
  • Discounts
  • Comparison Rates

The #1 Insurance Site

Copyright 1995 – 2017. Progressive Casualty Insurance Company . All Rights Reserved.

We offer insurance by phone, online and through independent agents. Prices vary based on how you buy. Prices for policies sold through agents and brokers are available from them and through progressive.com/agent.

Learn more about comparison rates , which are available from Progressive Direct in most states and situations. Rate comparisons provided here are based on our Progressive Direct auto insurance price and product and Progressive Direct’s credit evaluation, and do not include prices and products available from Progressive agents. Consumers can select a different credit evaluation when they obtain competitor rates through our comparison rate service.


Auto Finance, used auto loan rates.#Used #auto #loan #rates


Auto Finance

More in Auto Finance

  • What Car Shoppers Need to Know About Credit Reports – 08/31/2017
  • How To Buy a Car After Bankruptcy – 08/20/2013
  • The Risks of Auto Loan Cross-Collateralization – 08/06/2013
  • Seven Things To Know About Car Loan Credit Reports – 06/06/2013
  • How Long Should My Car Loan Be? – 05/01/2013

Car Selling Calculators

See which cars and trucks our editors recommend

Making sure to finance a vehicle properly will greatly reduce the cost of your next new or used car. “Auto Financing” is a general term meaning how you pay for the vehicle. In most cases, cars are financed by taking out an auto loan to buy or lease the car. This involves getting a credit check. By checking your credit history first, and answering all the tough car finance questions up front, you will be more prepared to handle issues at the dealership.

In the articles on these pages we will not only look at the general topic of car finance but we will consider the related topics of credit history, car loan refinancing, auto insurance and all issues pertaining to special car finance considerations. Although most people don’t like to think about the subject of auto financing (instead they like to focus on that shiny new car) it is actually the most important part of car buying. While your credit will be checked by the salesman, often before negotiations begin, this is not the only way you can go to get your new car. You do not have to throw yourself at the mercy of the dealership even for special car finance situations. Being prepared before you get to the dealership will mean that you can take charge of your credit and get the new car loan that serves you best.

Keep this in mind: when you negotiate with the salesman for the most favorable auto loan, nothing is permanent until you have it in writing. The sales contract is prepared once negotiations seem to be over. This is handled in the finance and insurance office (the so-called “F ?>

Auto Loan Rates – Police and Fire Federal Credit Union, auto loan rates.#Auto #loan #rates


auto loan rates

Auto loan rates

Auto loan rates

Auto Loan Rates

Check out our competitive auto loan rates, as well as rates on any of our loan or share account products. We also have a variety of interactive calculators that can help you plan for your future. You may also apply online for a number of our products and services.

Annual Percentage Rates (APRs) are effective as of Friday, November 10, 2017 and are subject to change.

2018, 2017, and 2016 Model Vehicles

2015, 2014, and 2013 Model Vehicles

2012, 2011, and 2010 Model Vehicles

Rates reflect a 1/4% discount with automatic payment from an active PFFCU Checking Account or distribution from a payroll check automatically deposited with PFFCU and are SUBJECT TO CHANGE WITHOUT NOTICE . The AutoDraft can only be used to purchase or buyout a lease on an automobile (examples of vehicles that cannot be purchased using an AutoDraft are a motorcycle, mobile home, trailer, RV, boat, snowmobile, jet ski, off road vehicle, commercial vehicle, or any other untitled vehicle). The vehicle must be purchased from a business entity licensed to sell automobiles. PFFCU will only finance autos that have mileage of 75,000 or less. The maximum age of any auto to be financed is 6 years or less than the current model year (For example, as of January 1, 2017 the oldest auto to finance is a model from 2010). AutoDraft can only be used to purchase a new car in PA, NJ, DE, MD, FL, and NY or a used car from a licensed dealership in PA, NJ or DE.

  1. Your rate will depend upon your credit score, loan term and model year.
  2. All payments quoted above are based on per $1,000 borrowed. To get a monthly payment for a specific borrowed amount, multiply the per $1,000 payment factor by the number of thousand dollars borrowed. For example, if you borrow $10,000, multiply 10 by the figure noted next to the specified loan product.

Call Us with Questions

If you have questions or want to apply for a loan over the phone please call us

at 1-800-228-8801 or 215-931-0300.

Auto loan ratesAuto loan ratesAuto loan rates

ABA Routing #236084285

Police and Fire Federal Credit Union

901 Arch Street, Philadelphia, PA 19107

©2017 Police and Fire Federal Credit Union.


Car Refinance, Auto Loan Refinancing, OpenRoad Lending, lowest auto loan rates.#Lowest #auto #loan #rates


Love Your Car, but Not the Payment?

  • OpenRoad Lending has a 98% customer satisfaction rating
  • A trusted member of the American Financial Services Association
  • An accredited A+ Better Business Bureau company
  • Recognized by Inc. Magazine as the 37th fastest growing private company in America!
  1. 1. Apply from anywhere in minutes with no obligation.
  2. 2. Get an answer back from us in as fast as one hour.
  3. 3. Save hundreds, even thousands, on your auto loan!

Lowest auto loan rates Lowest auto loan rates

We’re Ready to Work for You!

Refinancing is Easy and Well Worth the Effort

Actual Customer Savings Story

Lower Rates and Amazing Savings!

Choosing the right Auto Finance Company is now easier than ever. For years, OpenRoad Lending has helped tens of thousands of customers save over $100/month† on average by refinancing their auto loan.

BBB Accredited Business

Refinancing Your Auto Loan With OpenRoad is Easy,

and You Could Save Hundreds, Even Thousands!

Apply

Download

Customer Reviews

Why OpenRoad Lending?

  • Trusted Across the Nation OpenRoad is a trusted member of the American Financial Services Association, A+ accredited by the BBB, an Inc. 500 fastest growing business and a Dallas Business Journal Best Places To Work Company
  • Low Rates and Amazing Savings OpenRoad has refinanced tens of thousands of auto loans and to our customer’s delight saved an average of more than $100 a month. That’s over $1200 a year
  • Happy Customers Financing solutions for all credit types. For years OpenRoad has set itself apart by providing World Class Customer Service and we are proud to have a 98% customer satisfaction rating.
  • Quick, Easy and Secure Apply online or over the phone from the comfort and privacy of your own home with no cost or obligation. Quick loan decisions, flexible financing options and cutting edge technology for a great experience!

Customer Savings To Date

Tools & Tips

Tools & Tips

Lowest auto loan rates

Lowest auto loan rates

Lowest auto loan rates

Lowest auto loan rates

Products

Products

Lowest auto loan rates

Lowest auto loan rates

Lowest auto loan rates

Lowest auto loan rates

Lowest auto loan rates

Lowest auto loan rates

OpenRoad Lending Blog

Avoid These DIY Mistakes When Working On Your Car

Vehicle Refinancing – A Simple Process Leading to Great Savings

Used Cars for New Drivers

Car Refinance Loans – Is a Refinance Right for Me?

Auto Loans Made Easy for New and Pre-Owned Vehicles

  • Privacy Policy
  • Site Map
  • Contact Us
  • Careers We’re Hiring

Lowest auto loan rates Lowest auto loan rates Lowest auto loan rates Lowest auto loan rates


Free Auto Transport Quotes, Save up to 55% on Car Shipping, auto shipping rates.#Auto #shipping #rates


Compare Auto Transport Quotes Save!

Auto shipping rates

By filling out the form at the top of this page, you can get free instant online auto transport quotes for car transport and car shipping companies in your area. Once you have those quotes, speak with each transporter independently to find out what they offer and which estimate and service most closely fits your needs.

Working with Auto Transport Quotes

Obtaining a quote from CarShippingQuote.com means that you will be provided with multiple quotes customized to your needs from car shippers that comply with FMCSA (Federal Motor Carrier Safety Administration) regulations and are qualified to help you in moving your car to its new location.

When comparing car transport quotes from multiple auto transport companies, look at the services that are offered and see which companies will provide the best care and quickest transport for your vehicle. Car shipping rates are usually dependent primarily on weight, but there are also additional costs which may be incurred depending on the type of car. Classic and luxury cars may need extra safety precautions taken to insure that no damage comes to the vehicle.

Keeping Auto Transport Companies Informed

Once you have a basic auto transport quote and start talking to car shipping companies in your area, make sure you let them know about any additional components of your car, such as camper shells and lifts, so that they can provide you with any modifications to your initial auto transport quote. If you find that one company s carrier gives a slightly higher quote, but offers additional car transport services which you want to take advantage of, it may be worth letting them know that you are talking to more than one car shipping. In some cases, there may be room for adjustment in their car shipping quote if the car transporter feels this will help them gain your business.

For the consumer, a best case scenario would be to have multiple auto transport quotes from car transport companies, a clear idea of your needs for transport, and an idea of what your budget is for transport. With these three things in mind, you can then approach each company individually, outline your needs, and negotiate the best price from the service you feel most confident in and happy with. Remember that, as the consumer, you are paying for a service which should give you peace of mind and the knowledge that your car is being protected while being shipped.

Following the above guidelines when looking for auto transport quotes should ensure your needs are met by the best carrier possible. Fill out our form to start your search for a car shipping!


MCU: Services – Auto Loans, auto loans rates.#Auto #loans #rates


auto loans rates

Auto loans rates

Pre-arranged, no-hassle financing with MCU

Auto loans rates

Auto loans rates

See what others paid for the car you want

Auto loans rates

Auto loans rates

Visit the certified dealership with your guaranteed savings certificate and VIP check and then drive away with your new car

Benefits of the MCU Car Buying Service

Easy Loan Application Process

Convenient VIP Purchase Check Option

MCU’s Car Buying Service is provided by TRUECar. MCU is not responsible for, nor makes any representations or warranties as to, TRUECar’s products and services, its claims or its website content. TRUECar operates its program and information website (which features pricing performance, technical and safety data available for new and used vehicles) totally independent of MCU. Also, each certified dealer sets its own pricing and will confirm actual vehicle availability from in-stock inventory. Finally, please be aware that TRUECar’s website may have privacy and information security policies that are different than those of MCU.

*APR = Annual Percentage Rate. Subject to credit approval. These rates are available to well-qualified borrowers who purchase through the MCU Car Buying Service from a certified TRUECar© dealer. Some applicants will qualify at higher rates as determined by their creditworthiness. For model years 2017-2016 vehicles purchased using the MCU Car Buying Service from a certified TRUECar© dealer, your payments will consist of 60 monthly payments of $17.09 on each $1,000 borrowed at 0.99% APR. For well–qualified applicants purchasing model years 2017-2016 vehicles without using the MCU Car Buying Service, your payments will consist of 60 monthly payments of $17.29 on each $1,000 borrowed at 1.45% APR. These rates are available when payroll deduction or direct deposit is selected as the method of repayment. Annual percentage rates are .50% higher if payroll deduction or direct deposit is not chosen as a method of repayment. Annual percentage will increase by .50% after consummation if automatic payroll deduction or direct deposit is cancelled. Competitive rates available for older models and refinances. Offer valid from 09/29/2017- 10/10/2017. Some restrictions may apply. Rates and terms are subject to change without notice. Late payment fee: $25.00. Automobile financing is only available to MCU members residing in NY, NJ, CT or PA. Membership is required.

**$3,106 Average savings represents the average amount of savings off of MSRP presented to users by Certified Dealers based on user-configured new vehicles as calculated by TRUECar. Your actual savings may vary based on multiple factors including the vehicle you select, region, dealer, and applicable manufacturer incentives. The Manufacturer’s Suggested Retail Price (“MSRP”) is determined by the manufacturer, and may not reflect the price at which vehicles are generally sold in the dealer’s trade area as not all vehicles are sold at MSRP. Each dealer sets its own pricing. Your actual purchase price is negotiated between you and the dealer.

Enterprise Car Sales

MCU partners with Enterprise Car Sales to offer members great deals on their next vehicle purchase. Members can purchase a used car from Enterprise and finance it through MCU.

All Enterprise Used Car Sales vehicles come with the following:

  • Haggle Free Buying
  • 12-Month/12,000 mile limited Powertrain warranty 1
  • Vehicle Inspection
  • 12 –Month Roadside Assistance 2
  • Free CARFAX ® Report
  • 7-Day Repurchase Agreement 3

Search the Enterprise Used Car Sales Inventory.

MCU Auto Loans:

  • Up to 125% financing available
  • Low interest rates
  • Flexible terms

Apply Now

  1. MCU is not responsible for, nor makes any representations or warranties, as to the vehicles offered for sale by Enterprise, its claims, or its website content. Enterprise operates its business, including information offered on its website (which features pricing information) totally independent of MCU. Finally, please be aware that Enterprise’s website may have privacy and information security policies that are different from those of MCU.
  2. 1 Restrictions apply. For details see an Enterprise Car Sales Manager.
  3. 2 Enterprise 12-Month Unlimited Mileage Roadside Assistance Program is provided by the American Automobile Association (AAA) and its affiliated clubs in the United States and Canada.
  4. 3 Restrictions apply. For details see an Enterprise Car Sales Manager.

Lease Buyout

Looking to buy out your auto lease? The low rates and flexible terms of an MCU Auto Loan can help you keep your monthly payments low and affordable. To continue to drive the car you love for years to come, call 1-888-4MCU-AUTO, option 1, to get the process started.

Auto Refinance

Pay off your current auto loan with a new auto loan from MCU

Features & Benefits

  • Loan must be refinanced from another financial institution
  • Vehicle must have less than 100,000 miles
  • You must be the registered owner and the existing loan must be in your name
  • Vehicle cannot be registered as a taxi or used as a taxi, Uber, Lyft, etc.
  • No application fee
  • No prepayment penalty

Please have the following ready when you apply online:

  • Registration to verify the VIN
  • Insurance card
  • 10 day payoff letter from your current finance company (the payoff is your loan amount)
  • NY State Title to verify the title number (NY State only)

Apply Now

Auto Insurance

TruStage™ Auto & Home Insurance Program

Get your free quote today or call 1-855-483-2149.

Exclusively for credit union members like you, the TruStage Auto & Home Insurance Program provides affordable top-quality protection. You could enjoy discounted rates combined with online convenience and 24/7 claims service.MAH-1112-7C9E

TruStage™ Auto and Home Insurance program is offered by TruStage Insurance Agency, LLC and issued by leading insurance companies. Discounts are not available in all states and discounts vary by state. The insurance offered is not a deposit and is not federally insured. This coverage is not sold or guaranteed by your credit union.

Guaranteed Asset Protection (GAP) Insurance

GAP insurance is a way to protect your auto loan. Many times when a car is declared a “total loss” after being stolen or totaled in an accident or natural disaster, you may owe more than your car is worth. GAP insurance helps cancel the difference between the primary insurance settlement and what you might still owe on the loan.

How Does Gap Insurance Work?

  • It is available to MCU members for a small fee of $85.
  • The fee can be included with your monthly payments or made separately through a single payment.
  • If there is a difference between what you owe on your loan and the value of your vehicle, GAP will help pay the difference based on the terms of your member agreement.
  • It can be purchased for an existing auto loan.
  • You can cancel GAP within 90 days for a full refund.
  • Any payments on your vehicle loan that are past due at the time of loss, as well as the member’s deductible amount on the loan, are not covered.

Call 1-800-LOAN-MCU or visit your local branch to find out more about adding GAP to your auto loan today.

Guaranteed Asset Protection (GAP) insurance is offered through Member’s Choice™


Auto Loans, Online Auto Rates – Financing, BBVA Compass, auto loans rates.#Auto #loans #rates


Auto Loans

At BBVA Compass, everything you need to save time and money on your next auto loan comes standard. Here are some benefits:

Your interest rate will never change for the life of your loan, which means your payment amount or due date won’t change either.

Choose a term you’re comfortable with, from 12 to 72 months.* Flexible terms let you think bigger when car shopping, or think about paying off your car faster.

Unlike other auto loans, there are no unexpected fees for paying off your loan early. Just the expected feeling of satisfaction when receiving your title.

You can make payments online, by mail, at your neighborhood branch, or have them automatically debited from your BBVA Compass account with auto-debit.

Minimum loan amount is $5,000, with lower interest rates on loans of $15,000 or more.

Get Rates for Auto Loans

A lower rate can reduce your monthly payment and the total you pay for your car. Tell us your region to see our competitive rates for new and used vehicles.

Your banking region is currently set as . If not correct, please change your banking region.

Where do you bank?

Please choose your banking region so we can give you better information.

New Auto Rates

Used Auto Rates

You may also be interested in:

Checking Accounts

You’re like no one else. That’s why BBVA Compass provides different checking account options. No matter your financial situation or how you like to manage your money, we have an account that’s just right for you.

Credit Cards

Get what you need from a credit card. Whether you’re rebuilding your credit or want to rack up rewards points, we’ve got the card you’ve been looking for. At BBVA Compass, we give you choices and options, so you can find the best card for you.

Savings Accounts

Make paying yourself a priority and watch your money grow. BBVA Compass offers you savings options that range from a simple savings account to a long-term nest egg for your retirement.

Details you need to make a smart decision

Loans subject to eligibility, collateral, underwriting and approval, including credit approval. *Payment Example: A 60-month fixed-rate loan for $20,000 with $0 down payment and an APR of 3.49% would have 60 monthly payments of $363.75 each.

Save time and money when you have your monthly payments automatically debited from your BBVA Compass checking account. Don’t have a BBVA Compass checking account? See our checking account options and ask your banker about other relationship or program discounts available.

*Advertised interest rate discount requires establishment of recurring monthly auto-debit of loan payments from your BBVA Compass checking account. All loans subject to approval, including credit approval. For qualifying customers, enrollment in auto-debit loan payments from a BBVA Compass checking account is required to receive a 0.50% interest rate discount off of standard interest rates offered by BBVA Compass for auto loans (enrollment in auto-debit is NOT mandatory or required for loan approval). The BBVA Compass checking account must be opened prior to the loan being finalized to be eligible for the auto-debit interest rate discount offer.

The offered auto loan APR will vary between 3.49% and 12.49% APR based upon creditworthiness, loan amounts, term length, and other factors. Receive the Consumer Segment Interest Rate Discount of 0.25% off of the base interest rate for enrollment in Premier Personal Banking, Everyday Heroes, Workplace Solutions or Global Wealth.


Car Refinance, Auto Loan Refinancing, OpenRoad Lending, auto loan refinance rates.#Auto #loan #refinance #rates


Love Your Car, but Not the Payment?

  • OpenRoad Lending has a 98% customer satisfaction rating
  • A trusted member of the American Financial Services Association
  • An accredited A+ Better Business Bureau company
  • Recognized by Inc. Magazine as the 37th fastest growing private company in America!
  1. 1. Apply from anywhere in minutes with no obligation.
  2. 2. Get an answer back from us in as fast as one hour.
  3. 3. Save hundreds, even thousands, on your auto loan!

Auto loan refinance rates Auto loan refinance rates

We’re Ready to Work for You!

Refinancing is Easy and Well Worth the Effort

Actual Customer Savings Story

Lower Rates and Amazing Savings!

Choosing the right Auto Finance Company is now easier than ever. For years, OpenRoad Lending has helped tens of thousands of customers save over $100/month† on average by refinancing their auto loan.

BBB Accredited Business

Refinancing Your Auto Loan With OpenRoad is Easy,

and You Could Save Hundreds, Even Thousands!

Apply

Download

Customer Reviews

Why OpenRoad Lending?

  • Trusted Across the Nation OpenRoad is a trusted member of the American Financial Services Association, A+ accredited by the BBB, an Inc. 500 fastest growing business and a Dallas Business Journal Best Places To Work Company
  • Low Rates and Amazing Savings OpenRoad has refinanced tens of thousands of auto loans and to our customer’s delight saved an average of more than $100 a month. That’s over $1200 a year
  • Happy Customers Financing solutions for all credit types. For years OpenRoad has set itself apart by providing World Class Customer Service and we are proud to have a 98% customer satisfaction rating.
  • Quick, Easy and Secure Apply online or over the phone from the comfort and privacy of your own home with no cost or obligation. Quick loan decisions, flexible financing options and cutting edge technology for a great experience!

Customer Savings To Date

Tools & Tips

Tools & Tips

Auto loan refinance rates

Auto loan refinance rates

Auto loan refinance rates

Auto loan refinance rates

Products

Products

Auto loan refinance rates

Auto loan refinance rates

Auto loan refinance rates

Auto loan refinance rates

Auto loan refinance rates

Auto loan refinance rates

OpenRoad Lending Blog

Avoid These DIY Mistakes When Working On Your Car

Vehicle Refinancing – A Simple Process Leading to Great Savings

Used Cars for New Drivers

Car Refinance Loans – Is a Refinance Right for Me?

Auto Loans Made Easy for New and Pre-Owned Vehicles

  • Privacy Policy
  • Site Map
  • Contact Us
  • Careers We’re Hiring

Auto loan refinance rates Auto loan refinance rates Auto loan refinance rates Auto loan refinance rates


Auto Loan Rates – Police and Fire Federal Credit Union, auto refinance rates.#Auto #refinance #rates


auto refinance rates

Auto refinance rates

Auto refinance rates

Auto Loan Rates

Check out our competitive auto loan rates, as well as rates on any of our loan or share account products. We also have a variety of interactive calculators that can help you plan for your future. You may also apply online for a number of our products and services.

Annual Percentage Rates (APRs) are effective as of Friday, November 10, 2017 and are subject to change.

2018, 2017, and 2016 Model Vehicles

2015, 2014, and 2013 Model Vehicles

2012, 2011, and 2010 Model Vehicles

Rates reflect a 1/4% discount with automatic payment from an active PFFCU Checking Account or distribution from a payroll check automatically deposited with PFFCU and are SUBJECT TO CHANGE WITHOUT NOTICE . The AutoDraft can only be used to purchase or buyout a lease on an automobile (examples of vehicles that cannot be purchased using an AutoDraft are a motorcycle, mobile home, trailer, RV, boat, snowmobile, jet ski, off road vehicle, commercial vehicle, or any other untitled vehicle). The vehicle must be purchased from a business entity licensed to sell automobiles. PFFCU will only finance autos that have mileage of 75,000 or less. The maximum age of any auto to be financed is 6 years or less than the current model year (For example, as of January 1, 2017 the oldest auto to finance is a model from 2010). AutoDraft can only be used to purchase a new car in PA, NJ, DE, MD, FL, and NY or a used car from a licensed dealership in PA, NJ or DE.

  1. Your rate will depend upon your credit score, loan term and model year.
  2. All payments quoted above are based on per $1,000 borrowed. To get a monthly payment for a specific borrowed amount, multiply the per $1,000 payment factor by the number of thousand dollars borrowed. For example, if you borrow $10,000, multiply 10 by the figure noted next to the specified loan product.

Call Us with Questions

If you have questions or want to apply for a loan over the phone please call us

at 1-800-228-8801 or 215-931-0300.

Auto refinance ratesAuto refinance ratesAuto refinance rates

ABA Routing #236084285

Police and Fire Federal Credit Union

901 Arch Street, Philadelphia, PA 19107

©2017 Police and Fire Federal Credit Union.


Refinance Auto Loan – When to Refinance Your Car Loan, refinance auto loan rates.#Refinance #auto #loan #rates


Refinance auto loan – When to refinance your car loan

Refinance auto loan rates

With interest rates remaining so low, an auto loan refinance may have crossed your mind — and it could be a good idea.

Doing so could save hundreds of dollars each year and sometimes thousands over the life of the loan.

If your current car loan interest rate is above 6%, you might want to investigate refinancing.

Unlike refinancing your mortgage or even consolidating credit card balances, refinancing your vehicle loan is usually quick, easy and painless. No appraisal will be required. And usually there are minimal, if any, fees.

But refinancing is not for everyone. It makes sense if, since the original loan, you find yourself in one or more of these five situations:

  • Interest rates have dropped. If interest rates have dropped more than a couple of points since purchasing your vehicle, you could save some money. In this case, loans at refi rates are considered used car loans and as such, the rates usually are higher than new car loans. Remember, even a percentage point or 2 can make a big difference over the life of the loan.
  • Your credit score has improved. If you had a few negatives on your credit report — or had no history of credit — when you bought your car, but your credit is healthier now, you may qualify for a lower interest rate. Interest rates of 18% or more for consumers with a thin credit history are common. Several months of on-time payments could entice a lender to refinance that loan at a lower rate. Steve Schooff, a former spokesman for Capital One Auto Finance, says consumers should check their credit scores before refinancing.Your credit score has a major influence on auto loan rates. Get your score for free at myBankrate.
  • You didn’t get your best rate when you purchased. Just because you had a high credit score and unblemished credit history doesn’t mean you got the best rate you could have received when you purchased the car. Dealer-sourced vehicle loans commonly carry a higher rate than the consumer deserves because the consumer simply didn’t know better. The extra money is a profit source to the dealer, like rust-proofing or extended warranties. When this is discovered after the fact, it may pay to refinance.
  • Your personal financial landscape has deteriorated. If you have had a financial setback and need to reduce your payments, refinancing could be a solution by increasing the loan term, thereby lowering the monthly payment.
  • Your car lease is expiring and you want to purchase the vehicle. When you fulfill the terms of a lease, you typically have the option to buy the vehicle.

Finding a lender that refinances is the easiest step in the process. Credit unions do big business in vehicle loan refinancing and they have money to lend. You will need to open a checking or savings account at one if you’re not already a member.

How much can you expect to save? According to Schooff, if one year ago you took a $25,000 auto loan for five years at 7.75% interest, refinancing the balance today at:

  • 4.75% for the remaining four years of the loan would save $1,373 — $28.60 per month.
  • 5.75% for the remaining four years of the loan would save $906 — $18.88 a month.
  • 6.75% for the remaining four years of the loan would save $448 — $9.33 a month.

Refinancing isn’t an option for everyone. If the vehicle is worth less than the loan balance (upside down), a lender probably won’t take the chance and at the same time lower your interest rate. You can determine the current value of the vehicle through Kelley Blue Book, or KBB.com, Edmunds.com or AutoTrader.com.

Other requirements may also disqualify you, such as the age of the vehicle and the outstanding balance to be refinanced. Capital One Auto Finance, for example, will not refinance a vehicle more than 7 years old; the amount of the loan can be no less than $7,500 and no more than $40,000.

It’s important, Schooff says, “that consumers determine if their current auto loan has any penalties for paying off the loan early. This will impact how much they can save from refinancing.”

Call your lender and request the current payoff amount of your loan. This is the amount of money you need to refinance. It is also the figure you’ll compare against the vehicle’s value to determine if the vehicle is worth more than the amount you need to borrow.

There is no required amount of time from the date of the original loan until you can refinance. Actually, because of the way most auto loans are structured, the majority of the interest is paid during the first half of the term of the loan. The younger the current loan is, the more money refinancing will usually save.

Once you know your payoff, you can determine how much refinancing can save each month by using Bankrate’s auto loan calculator to find your new payment, then subtract it from your existing payment.

Because most refinancing loans are fairly straightforward, decisions are usually made quickly. Schooff says Capital One Auto Finance typically gives the consumer a decision by email within 24 hours of submitting the online application.

If you find yourself upside down in your car loan and for personal reasons need to lower your payment, you may be able to persuade your current lender to modify your loan, lowering the monthly payments by extending the term of the loan or reducing the interest rate.

It’s important to act before your payments fall behind. The earlier you open communications with your lender, the better the chance of coming to an arrangement.