Refinancing your car can greatly reduce the monthly payments and the interest involved in a loan. However, refinancing a high mileage car is a different story. Lenders are not usually willing to provide loans for a high mileage car for they may consider it as a high risk vehicle. Despite this condition, you can still refinance a high mileage car by following the useful steps enumerated below.
1. Check your credit report if you already have the copy. I case you don
Car dealer financing is one of the best options to finance a car. These loans are offered by car dealers to qualified customers in order to increase their sales. However, car dealers sometimes place hidden charges on these loans to earn additional profits. In order to avoid getting inflated loan rates, buyers should learn how to assess the best car dealer finance options using the steps below.
Step 1: Check the financing rates offered available lenders
Since car dealers are not lenders, assessment of the financing options they offer should start by checking the rates offered by lenders that are connected to dealerships. Check the loan rates offered by banks and other credit unions. Knowing the actual interest rates offered by these lenders helps car buyers to determine whether the loan rates from dealers are inflated or not.
Step 2:
