When you go to a dealer to buy a new car, you have a great many things on your mind. You are thinking about the model, make, color and all of the options that you want on the car. As you negotiate with the dealer, you have a ballpark figure in mind about how much of a monthly payment you can afford. You most definitely will be concentrating on the final purchase price of the vehicle. What you probably will give the least amount of consideration is the financing of the car. After all, the dealer will be more than happy to offer you fast and easy financing to get you in your new car quickly.
After you have been making your monthly car payments for awhile, you may realize that they are more burdensome than you had expected. The car payments may be a bit more than you can actually afford. Sometimes, you may even have to cut way back on other things in order to keep making your monthly car payments. In some situations, you may even have to skip making some other payments in order to have enough money to make your car payment. You may be wondering: How can I slash my payments? The answer is that you can cut your monthly car payments drastically and quickly by refinancing your car with Ignition Financial.
When you bought your car using dealer arranged financing you were paying more than you ever thought for your vehicle. Unbeknownst to you, the car dealer makes a lot of money off of auto financing. The dealer has an agreement with the banks and other lenders where he gets to add a few extra interest points on your loan and keep the money. The dealer will raise your interest rate to whatever he thinks that he can get away with. At the same time, he leads you to believe that he is giving you the best possible interest rate based on your creditworthiness. The higher interest rate you are paying is one of the reasons that your car payments are so high.
When you refinance your car, you get to talk directly to the lender. This way you can get the lowest interest rate possible without having to pay anyone extra interest just to arrange your loan. Refinancing your car at a lower interest rate will immediately lower your car payments so that you don’t have to sacrifice your lifestyle to pay for your car.