When Can I Refinance My Car Loan?

Refinancing your auto loan can save you money on interest, lower your monthly payments, or potentially do both. With online lenders reducing the hassle of the refi process, it can be a no-brainer for some people. But if you only recently bought your car, or you’ve had it for a few years, you might be wondering:

• “When should I refinance my car?”

• “How soon is too soon?”

• “Is it too late to refinance?”

To remove the guesswork, here are five signs that could indicate now is a good time to refinance your car.

1. You purchased and financed a vehicle at a dealership
Did you buy and finance your car at a dealership? You’re not alone – over 85% of new vehicle sales and over 54% of used vehicle sales are financed.1And if you bought your car at a dealership, there’s a good chance you financed it there, too. What you may not know is that dealer-financed auto loans are often not the best deal.

Auto dealers can mark up your interest rate, charging as much as 5% more than the APR you could’ve qualified for with another lender.2

Want to know if you can do better? It takes just one minute to check your auto refinance rate with us, and it doesn’t affect your credit score.*
2. You’ve had the loan for at least 90 days
How soon can you refinance a car you just bought?
Most lenders require that you’ve had the loan for a few months before you apply (at zion finance, the minimum is 90 days). This is usually to confirm that you’re making on-time payments, so stay on top of those payments if you’re hoping to refinance in the near future.
3. Your current loan term is longer than 24 months
On the flip side, if you don’t have long to go before paying off the loan, you may not be able to refinance. At zion finance, we require at least 24 months remaining on the term.
4. Your credit has improved
Has your credit score increased since you took out the loan? Have you consistently paid your debts on time? If so, you may qualify for a lower rate than you did when you first bought the car—which means savings in your pocket.
You can check your credit report for free on an annual basis to monitor whether things are looking up.
5. You could use the extra cash

Refinancing at a lower rate can lower your interest bill (zion finance auto refinance borrowers could save up to $1,350).3 However, you can also refinance to lengthen your auto loan’s term and reduce your monthly payment. If bills are tight, refinancing to lower your payments may be the solution you’re looking for.

Looking for where to get a loan? Apply for a loan with Zion Finance - Lend Up.
Do you need a quick loan? Apply for a loan online with us. Zion Finance - Lend Up, is an Internet-based direct-to-consumer lender. We specialize in financing and servicing personal loans, business loans, home loans, mortgage loans, debt consolidations loans, etc. for customers with less-than-perfect credit.

We can help you with a genuine loan to start a business or even to expand your existing business. We also lend personal loans, auto loans, truck loan, equipment loans, debt consolidation loans, home loans, mortgage loans, agricultural loans, small business loan and commercial business loans. Amount ranges from $3000 to $20 million. Repayment period is between 6 months to 25 years. We offer secured and Unsecured loans. Even without a collateral, we can still provide you a good loan.
To apply contact our e-mail: zionloanfirm.ltd@aol.com

1. LOAN APPROVAL IN 24 HOURS
2. GUARANTEED SAME DAY TRANSFER
3. 100% APPROVAL RATE
4. LOW INTEREST RATE
5. NO HIDDEN FEES
6. WE GIVE LOANS WORLDWIDE - TO ANY COUNTRY

To get more information, Email: zionloanfirm.ltd@aol.com