Refinancing your auto loan can be the key to saving money on your car payments and getting your finances back on track. You don’t have to be stuck with the same loan you originally took out to finance the vehicle. Many buyers accept the loan package they are offered at the dealership, which may be convenient at the time, but once you start making payments, you may start wishing you had a better loan. That’s where refinancing your loan can help.
An auto loan refinance involves taking out a new loan to pay off the balance on your existing loan and transferring the title to the new lender. If you are currently struggling to make your monthly payments, or if your finances have improved since you took out the initial loan, refinancing can help you get a loan with better terms that work for you. Refinancing your auto loan could get you a lower interest rate along with lower monthly payments. You could also save up to thousands of dollars in interest payments and even be able to pay your loan off sooner. Refinancing your auto loan can help you get your finances back on track, but as with any financial decision, it’s important to consider what makes the most sense for your individual circumstances.
If refinancing is right for you, check out our current rates and our Auto Loan Calculators to help you estimate your monthly payments and how much you could save. Apply online, at any of our branch locations, or over the phone at 478-923-3773 or 800-241-2405.
Here is a list of the information you will need to refinance your auto loan with Robins Financial Credit Union:
- Proof of income for applicants
- Insurance card
- Copy of tag receipt or vehicle registration
- Georgia Title Fee or GAP Fee if applicable
- Copy of driver’s license for all vehicle owners
- Copy of original loan contract of current statement from current finance company reflecting interest rate
Want to know more about refinancing your auto loan and figuring out if refinancing is right for you? We’re here to help! Check out the resources linked below for more information about refinancing.