Auto refinancing is the process of paying off your current car loan with a new one, from a new lender. If you’re struggling with your car payments or just hoping to save some money, it could be a great time to refinance your existing auto loan that was not previously financed at Members Trust!
Most people refinance to save money. If you keep the term the same and are eligible for a lower interest rate, you could save money each month and possibly thousands over the life of the loan. You can also choose to extend your term to get your monthly payments even lower; however, keep in mind that this could cause you to pay more interest over the life of the loan.
The Members Trust Auto Shopping Resource has a new auto-refinance calculator, which is a great way to instantly see your savings if you refinance your loan. This will help you determine if you are eligible for a lower rate and a more affordable monthly payment!
Click here to see if you can save money by refinancing with us. We want to help you find opportunities to save!
Get the Best Deal on a Year-End Models
If you are searching for a new vehicle, now’s a good time to make a purchase. The average car shopper visits less than two dealerships during the car-shopping process so do your online research and know before you go with our Auto Shopping Resource!
Fall is a great time of year to buy a car because dealerships are motivated to sell year-end models so they offer very competitive pricing. It could be to your advantage to score a fantastic deal on a new vehicle!
Don’t be intimidated by the process, because it all comes down to one thing: Research the vehicle you want and be an educated consumer. Here are helpful tips for shopping this season:
Research online –
Read about the next year’s models and see if anything is being redesigned. You could score a great deal on an “outdated” model design.
Find less popular models –
Your dealer is looking to clear inventory at year’s end, and might be more motivated to sell a particular make/model to do so.
Wait until the last minute –
As you inch closer to the end of the month, your dealership will become more motivated to sell. Your patience will pay off!