20251 SW Acacia Street
Newport Beach, CA 92660
The main reason you should refinance your auto loan when your credit improves is certainly a good one — you can save money! Potentially, a lot of money.
Simply put, if you receive an offer letter from Lendward, the terms of your present car loan are less than ideal, and we want to help get you into a better loan. Most likely you are making high monthly payments, you're saddled with a high interest rate, and the balance you have to pay off is substantial. Wouldn't you like to make these issues go away?
All of this changes when your FICO score starts to improve. Lenders including Lendward start to take notice. You're moving forward! Your improving FICO score means you are paying off your debts and making your car payments on time. You're considered less of a risk. And that's why you qualify for an offer of much better payment terms and interest rate from Lendward.
Determining the right time to refinance is a bit of a balancing act. You want to give your credit score a little time to heal, but you don't want to wait too long, because your car has the highest resale value at the beginning, and you'll be missing out on the savings each month you stay in your unfavorable loan.
You may find yourself in one of these scenarios in which refinancing is particularly desirable:
If you receive an offer letter from Lendward, don't throw it away. Instead, think of all the money you can save by refinancing your auto loan! To find out just how much, call us at 800.391.9310.