Can I Refinance My Car Loan with the Same Bank?
Refinancing a car loan
There are many reasons why you might be looking to refinance your car loan – but the majority of people simply want to get a better deal. If you think you’re paying too much in monthly repayments, that your interest rates are too high or you’re simply not happy with your current car loan, refinancing could be a great way to go.
Always ask for expert help when considering car loan refinance. At Positive Lending Solutions, we’ll provide you with instant access to our expert team of brokers who have decades of experiencing helping people to refinance car loans and find the best solution for them.
New loan, same bank
You're happy with the service your bank is offering, and have decided it's simpler to stay put - but you've done the math, and it's time to renegotiate your car loan terms.
Refinancing with the same bank has its advantages, but it serves to know what other banks are offering. You can use competitive outsider rates to leverage a better deal with your current lender. If you’re unsure of how to go about this, speak to Positive Lending Solutions and our team will be happy to step in to help.
Key advantages to refinancing your car loan with the same bank:
- An easier transition, as your bank will already have all of your information and required details.
- Bank loans and savings are kept conveniently in one place.
- Your current bank could improve your loan terms if you proved yourself as a responsible borrower.
Looking elsewhere when you refinance your car loan
While staying with your current bank is easy and convenient, it could be costing you. By looking elsewhere, you widen the financial options available to you. It could land you better refinance deal, saving you hundreds over the course of your loan.
Understand the potential by contacting our team of refinance specialists. We have decades of industry experience, as well as access to a wide range of lenders, to quickly and thoroughly check that you’re getting the best deal with your car loan refinance.
Save money by refinancing your car loans
Whether you choose to refinance your car loan with the same bank, or ask Positive Lending Solutions to search for the best refinancing options for you, there are lots of benefits to refinancing your car loan.
By refinancing your car loan, you could enjoy:
- Reduced interest rates
- Loan term flexibility
- Surplus funds
- Improved loan features
Finding the right refinance agreement does take sharp judgement and industry knowledge. There could be hidden fees that increase your overall cost of your loan. Be aware of the following:
- Increased interest rates
- Interest accumulating over longer loan term
- You may have to pay early repayment or exit fees
Entrust an expert
Give yourself the peace of mind and ask an expert for help. At Positive Lending Solutions, our team of specialists survey a wide range of lenders to increase your chances of a better refinance deal.
Positive Lending Solutions can help save you time, money and stress. Start your journey towards stronger loan terms, get in touch today.