Ignition Financial and Automobile Refinancing

Auto loan documentation, terms and processes can be quite difficult and confounding sometimes. Financial regulations coupled with the requisite disclosures are constantly changing, which makes it very hard for buyers looking to finance their vehicles.

 

 

At ignition financial, clients are helped to get car loans. When clients come for loans they are helped to navigate the process swiftly and without stress as we bear the burden of the paperwork and the time commitment needed.

 

 

Benefits of Refinancing Automobiles

 

 

Lower Interest Rates

 

 

One of the primary reasons people refinance their vehicle loans is to lower their interest rates. Supposing at the time you purchased your vehicle you had bad credit or no credit at all, you can try to refinance the same after a few years. You may find that you’ve improved in credit score. If the score has shifted significantly, it then means that you are able to get an interest rate that is a bit lower. This is good news since it means that you will clear your loan sooner than you thought.

 

 

More money

 

 

Another upside to refinancing is that you may be able to get more money for some other project you want. For instance, if what you owe in comparison to the value of your vehicle is lower, then you may be in a position to get refinanced. If your vehicle is worth $9000 and you owe $5000, but you need to do some Christmas shopping, you can refinance your vehicle for $7500. This way you still owe less than the value of your car and you have $2500 to do your shopping after the new loan pays off the $5000 balance.

 

 

Lowered Payments

 

 

Sometimes situations are such that we want to reduce the cash flowing outwards: expenses. In such situations, refinancing helps in extending one’s loan. If you have a year more to go before you clear your loan, you can extend to three years instead. This way you pay less every month, so that you are able to deal with the situation in your life that needed the extra cash.

 

 

Switching Lenders

 

 

Changing lenders can be good sometimes but a challenge in other situations. If your lender is too tough and difficult to contact, especially when you need information about your payments, you can change to another.

 

 

Refinancing with Ignition

 

 

The slash my payments arrangement is already gaining the thumbs up from clients who are giving our team great reviews for this service. People with auto loans are being encouraged to try us at ignition financial.

 

 

 

Ignition Financial Helped Me To Get A Better Rate On My Car Loan

I’ve never been a fan of car dealerships, which is why I saved up all my money to purchase a car outright. I needed a car for my job, but there was a family emergency that required me to spend all the money that I had saved for my car to help a family member with hospital bills, so I didn’t have the money to buy the car again. Since my credit was decent, financing a car was the only choice I had, so I went to a dealer to look for a car and to see what their loan terms were.

 

Since this was my second car, I did have some good credit history, but it could have been better. I got a good rate on my financing, which was 18%, but I still would have liked to see it get lower than that. My first thought was to get the car refinanced as soon as possible, but I knew I needed to build up some more payments and a good payment history with the car to get any refinancing company to look at me. I did a great job paying down the car by several thousand dollars within only six months.

 

By the time I was ready to refinance my car, I only had $3000 left on it to pay, so refinancing it would have saved me some money each month, so I decided to call Ignition Financial. I only know about Ignition Financial because they are in my area in Austin, Texas, and I heard many good things about what they are able to do for those who need refinancing. Since I had on-time payments with my car and had been paying extra, it looks very good on my credit, and I couldn’t believe how they were able to slash my payments.

 

My $250 a month payment dropped down to $175 a month, and I was looking at a significantly lower interest rate than the 18% I was paying to the other financing company. My loan was bought out, which then allowed me to make monthly payments that were saving me money. Even though I was able to save more money each month, my goal was to pay off the car as soon as possible, and I was able to own my car outright within a year. I love what Ignition Financial has done for me.