Every month, iLendingDIRECT helps hundreds of people refinance their auto loans and lower their auto loan payments. Working with a dedicated loan consultant during the entire process, we narrow down the best option/s for you by working with our nationwide team of credit unions and lenders – but what is auto refinancing, and how can refinancing help me? On average, 70% of consumers are unaware they can refinance their auto loan, with less than 50% understanding the process of refinancing itself. In this article, we will discuss:
When you refinance a car, you replace your current car loan with a new loan of different terms. In practice, auto refinancing is the process of paying off your current car loan with a new one, usually from a new lender. This process can have varying outcomes for car owners.
Most people refinance their car to save money, but this goal can take multiple forms. For example, some refinance to lower their monthly car payments, others want to reduce their interest rates or adjust the length of their loan term. And still, others have more personal reasons to refinance, such as removing co-signers from their loan.
Refinancing your car loan takes only a few days but depends on how quickly you can get us the paperwork we need to assist you. Your loan consultant will help guide you through a very easy step-by-step process.
Refinance your vehicle can be a scary process, but with iLendingDIRECT, you are guided through with a dedicated loan consultant who fine toons your selections by working with our nationwide team of credit unions and lenders. iLendingDIRECT empowers consumers by providing financial freedom, saving each customer on average 144* per month – whether you are looking to lower your APR rate or lower your monthly payment, iLendingDIRECT is here to help.
How do we do this? Simple. We work with lots of banks and credit unions, which gives us (and you) lots of options. We ask all these partners to give us their best rates, then we bring the lowest options to you.
*see website for details.