Trying to refinance your car loan? Our Land Rover financing experts are here to help you out.
At Land Rover Jacksonville, we understand that refinancing can be difficult, but our certified professionals can give you the advice you need to get the process started. Here’s what you need to know about refinancing a car loan at our Florida Land Rover dealership.
What Does Refinancing Mean?
Refinancing is the process by which a borrower abandons the existing terms of a loan and negotiates different, more preferable terms. For example, you may have taken out a three-year loan with a seven percent interest rate. However, you might have realized that these terms don’t exactly work with your current financial situation. With refinancing, you can reapply and negotiate for a longer term or lower interest rate.
Top 3 Refinancing Tips from Our Land Rover Finance Center
- Check on your credit. Start the refinancing princess with a simple credit check. As with any loan application, the better your credit score is, the better your options will be. Since you’ve been making consistent payments on your current auto loan, you should have a decent credit score. If you’re happy with your score, it’s time to move to the second step.
- Estimate the costs. Next, you’ll want to use an online calculator, like this calculator on Cars.com, to determine the ideal terms for your car loan. By seeing which interest rates and monthly payments work best for your budget, you can decide what kind of agreement you're willing to accept.
- Finalize the deal. Meet with our finance team to apply for refinancing. When you see your offer, look it over and enjoy the terms of your new car loan.
Get More Land Rover Financing Tips Today
Still have questions about the financing process overall? Learn the ins and outs of buying a new Land Rover vehicle when you visit Land Rover Jacksonville.