MaxCash’s auto loan financial referral service could help you with your finances. Using this service could help you weed out bad lenders, find you the right lender for any situation, and help you get the funds you need. But what about refinancing? Is that something that MaxCash can help with? Can their auto loan financial referral service help people refinance an auto loan? Yes, read on to learn how.
What is MaxCash’s Auto Loan Financial Referral Service?
First, let’s start with the basics. What is this incredible service that MaxCash offers? What in the world is an auto loan financial referral service? It may be a mouthful to say, but it’s actually a quite simple 4-step process. Let’s run through it.
- Apply on the Inquiry Page – Head to the inquiry page of MaxCash’s website and fill out the form there. You’ll be asked for a few tidbits, like vehicle information, your address, your monthly income, and for a phone number and email. Once you’ve done that, kick back and wait. The magic is happening!
- Let MaxCash Do All the Work – MaxCash’s team will go down their list of lenders, make a case on your behalf, then get their responses. Once we’ve weeded out the loan offers that don’t work with your specifications, we’ll pair you up with the loan offers that do.
- We Get in Touch – Either through MaxCash or through the dealer directly, we get your loan info back to you via a phone call. From here, you can accept the deal’s terms if they’re to your liking. If you decide to proceed, then you will be asked to submit some identifying documents.
- Receive Your Money – Once you’ve gone through the process of agreeing to the lender’s terms and making a final deal, you could pick up your loan money. The lender may offer several options, but the most common include: picking up the money in person at the lender’s store, having a check sent in the mail, or receiving direct deposit. Congratulations! You’ve just obtained an auto loan!
Refinancing an Auto Loan
Now that we’ve discussed one half of the equation, let’s talk about the other— what is refinancing? And how does that fit in with MaxCash’s auto loan financial referral service? Don’t worry, we’ve got both questions covered for you.
Refinancing a loan is a simple but neat concept. You’re replacing the loan on your car with another, different loan. This usually involves finishing the payment of the first loan with some money from the second one. It may seem like an odd thing to do, but there are plenty of good reasons to do so, such as:
- Changing a Loan’s Length – If a sudden financial issue means you won’t be able to pay the normal monthly amount for long, refinancing could be a great option. If you’re refinancing your loan for this reason, extending the length of the loan would drop the monthly payment—likely to a level you could afford.
- Decreasing your Interest Rate – Sometimes a deal with a better interest rate shows up after you’ve committed to another one. Thankfully, refinancing exists to allow you to switch to the new rate, saving you that much more in the end.
- Lowering Your Monthly Fees – This is the most common reason people refinance. Plenty of better deals can show up as soon as you’ve committed, so refinancing to get those better deals is a great option.
- Add or Remove Someone from a Loan – Sometimes refinancing can happen not for monetary reasons, but personal ones. When refinancing, you’re signing up for a new loan. So if you have someone new come into your life, or have someone old leave it, getting your loan refinanced is a great way to have that happen.
Refinancing Your Auto Loan with MaxCash’s Auto Loan Financial Referral Service
So now that we’ve figured out what both pieces of this puzzle are, now we need to put them together. Of course, MaxCash’s auto loan financial referral service allows customers to refinance their loans, but how does that work? What does the process look like with MaxCash? Let’s run through the 4-step process.
- A Variation on the Inquiry Page – Just like applying for a starter loan, you’ll need to fill out the inquiry page with your basic info. In addition to that, you’ll also need to provide some info about your existing loan, like the term, monthly fees, and interest rate.
- MaxCash Finds You a Match – When you’re looking to refinance, MaxCash will look through their list again with the information on your old loan in mind. Lenders will respond to someone looking to refinance differently from someone looking for a first loan.
- The New Lender Reaches Out – When a new loan for you is found, the lender will reach out to you and walk you through the process of switching the first loan out for the new one. Then, once that’s taken care of, they’ll help you get set up with the new one.
- Get Your New Money – Now that you’ve switched off the old loan and are on the new one, you’ll be instructed by the lender to go pick up your new funds. Once you do, you’ve done it! You’ve refinanced your auto loan using an auto loan financial referral service.
When looking to refinance your loan, finding lenders who will be willing to take you on can be difficult. Some lenders will be iffy on doing so, which can make the process harder. Thankfully, MaxCash’s auto loan financial referral service can make finding the right lender a snap. So what are you waiting for? Apply with MaxCash’s auto loan financial referral service today!