Car refinancing is the process of paying off an existing car loan with a new loan, usually with a different lender, in order to obtain a lower interest rate, lower monthly payments, or both. This can be a good option for individuals who have improved their credit score or who have experienced a change in their financial situation since taking out their original car loan.
“Car refinancing is the process of paying off an existing car loan with a new loan, usually with a different lender, in order to obtain a lower interest rate, lower monthly payments, or both”
When you refinance your car loan, you will go through a similar process as when you applied for your original loan. This includes submitting an application, providing financial information, and going through a credit check. The new lender will use this information to determine your eligibility for the refinance and the terms of the loan, such as the interest rate and monthly payments.
It’s also important to compare the potential savings from refinancing with the cost of the refinancing. It may only be worth refinancing if the savings over the life of the loan outweigh the costs of refinancing. A specialist refinance broker like ourselves can help you with this calculation.
STEP 1
It all starts with an application. Use our fast online application form to check your eligibility to access refinance.
STEP 2
We will get in touch with you using the details given on the application form and together we can review the options that you have available based on your personal circumstances.
STEP 3
We provide you with the best quote that we can find from our panel of lenders and the decision is down to you. There is no obligation to use our financial services but should you want to go ahead, then we will complete all of the paperwork necessary.
In summary, car refinance is a way to get a new loan to pay off an existing car loan, with the goal of lower interest rate, lower monthly payments, or both. It can be a great way to reduce your monthly outgoings or consolidate balloon payments.
Carol St ClairAbsolutely brilliant company. Everything explained and sorted for me from start to finish. Will definitely recommend these guys. Thank you from a very happy customer 😁
idrees aliKirsty provided a fantastic service, would recommed to everyone. Happy motor finance
Matt JamesBrilliant help , very stress free experience. Highly recommend , Damien was excellent from start to finish .
Andy RyanAbsolutely outstanding service from Damian at Happy Motor Finance, start to finish 48 hours everything was explained and was an easy process. Highly recommended and cheers Damian much appreciated!
Victoria SumnerAmazing service from Leon and a new car sorted in less than a week.
Peter KilliardI could make this very very long winded but I won’t. I’ll just say that Kirsty and the team gave me the best customer service and buying experience ever. Thank you very much and I’ll be back when it’s time to upgrade.
Barry O'BrienKirsty was very patient, I don’t think I was an easy customer, I can’t remember how many cars I looked at, there was no pressure and Kirsty was extremely helpful and nothing was too much trouble, we eventually got a great deal on my ideal car, Thank you Kirsty
Jack ScoreyLeon was great! Fast responses to questions and always happy to help. Very quick process from start to finish. I would recommend this company to anyone.
Kyle DannIf I could give 6 stars I would, team member Yaz has been the most help from any finance company I’ve tried in getting a new car and helped me out massively. Top man and a top company would massively recommended.
