Refinancing an auto loan has many benefits and reasons. If you already have a refinanced auto loan, you might wonder if you can refinance your car once more. CEO gladly offers this service.
Borrowers can use external financial institutions to refinance any loan with us. We work directly with the new finance company to transfer titles, share payoff information, or any required document.
We can also refinance an existing CEO loan into a new, larger CEO loan. And we only charge 'closing fees' on the new cash borrowed, not the refinanced balances. Refinancing an existing refinanced loan does require a new application and is subject to loan underwriting. There will be an impact on your credit report.
Lastly, refinancing an auto loan is the same as getting a new loan for your vehicle. Please consult your financial coach and determine the car's market value before considering this option. Future financial hardship may result from a position in which you have negative equity, meaning that you owe more money than the worth of your car.