If you’re not happy with your current Volvo financing plan and want better terms, our dealership can help you. You can refinance your auto loan with us to lower your monthly payment or improve your interest rates. As part of our Volvo Financing Tips series, Fields Volvo Cars Northfield has assembled this guide to refinancing an auto loan.
When Should You Refinance?
There are several reasons why drivers want to refinance, but it may not make sense depending on your financial situation. You should refinance your loan if:
- Your financial situation changes: Life can change rapidly, and if you suddenly can’t afford your terms, refinancing might be the best option.
- You can get better loan terms: If your credit has improved or the market is better than when you bought the car, you might be eligible for better terms.
- Your current lender isn’t working for you: Drivers unsatisfied with their current lenders should consider refinancing with our dealership.
Know Your Current Terms
The first step in applying for refinancing is knowing what you’re currently paying and where you could improve. You’ll want to know what your car is worth, how much you have left to pay, what you pay each month, and your current interest rates and payments. That way, you know where you can improve.
Applying for Refinancing
Our dealership makes it easy to apply for refinancing. You can pre-qualify for a new loan or shop around for lenders with our financing team. We’ll also work with you and your previous lender to end your old loan so you can just focus on your refinanced plan.
Discuss Volvo Financing Options in Northfield, IL
Our Volvo financing team is standing by to help you find better car loan terms. Contact the Fields Volvo Cars Northfield finance department today to apply for refinancing today!