What Is Vehicle Refinancing?
Many of us have heard advertisements for companies that handle home loan refinancing. The lesser-known cousin, so to speak, of mortgage refinancing is vehicle refinancing. It is very common for a driver to put up only a partial down payment when buying a car, and pay for the rest with financing. A vehicle refinancing is a transaction, handled by the vehicle owner’s financial institution, which allows the person to obtain a lower interest rate and/or monthly payment on his vehicle.
