Refinancing a vehicle that you are currently paying a higher interest rate on, or that you want to extend your payments on regardless of the interest amount to free up useable cash in your pocket, can be done with little effort as long as the following criteria has met.

• the vehicle you are refinancing is a 1997 or newer, and currently has less mileage than 70,000

• you have made on-time payments to your current lender for at least the previous 6 months

• Remember that the older the vehicle and the higher the mileage the shorter the financed term will be on a new loan. Additionally, used vehicles generally receive a higher loan interest rate.

If you do not meet the above recommended requirements, please reconsider your refinancing thoughts to purchasing from a franchised or authorized Independent Dealer and trading in your currently financed vehicle. Apply for a “cash voucher” loan.