So, you have made the decision to go with automotive refinancing to get a better deal and to save money on your monthly outgoings. Now, you want to know what is in store for you as you apply for refinancing, and go through the process of trying to get the best deal that you can.
You will have no difficulty in finding a lender who is willing to offer automotive refinancing; it will actually be more difficult to choose between them. Credit Unions are one way to go about vehicle refinancing, but there are many types of financial corporation’s offering refinancing packages.
You would first of all need to find out how much you owe, in total, on your existing car loan, because that will be your minimum borrowing amount with a new lender. You would need to contact your existing lender to find out what this amount is. [...]