First, find out what your credit score is like. This will help you when you shop around because you will know what to expect from various lenders.
Second, you need to know the rate and term of your current loan. You should also have an idea of what you want changed with your refinance. This way you can do better comparison shopping.
Next, talk to the bank from which you have the loan. They will want to keep your business. If they know you're shopping around for refinancing options, they will be that much more likely to negotiate a better deal with you.
Speaking of comparison shopping, there are a lot of websites you can go to that will help you figure out which companies have the best offer. This is a great way to find the best rates for your car refinance. You can also research the reputation of different companies by looking for customer feedback.
The fourth thing you'll want to consider is the current condition of your car. It's hard to get a car refinance on a clunker. If you car is in good condition your chances of getting a good rate are higher.
Fifth, don't just jump at the first company that says they will work with you. Do some homework and compare several plans side by side. This way you will find the best option for your car and your situation. Be very direct with each representative so you can be sure you know all the ins and outs of each car refinance plan you encounter.
If you do your research and explore your options, you will no doubt be able to hunt down some amazing deals on refinance loans. Lower interest rates can save you hundreds of dollars.
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