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BIB Finance

Car Refinance Rates

Enjoy Lower Car Refinance Rates with The Help of BIB Finance

If you’re feeling the pinch at the end of each month, it’s time to take action. If only it was as easy as rearranging your financial obligations!

2018-03-19

If you have more month than money, there’s often not much that can be done to alleviate the financial strain. Excessive monthly expenses can affect your entire life. Your relationships, job, general happiness; all these areas are bound to take strain if you have the stress of your monthly bills and expenses weighing on your mind. One way to reduce your expenses and free up some cashflow is to whittle down your expenses where you can. In most instances, rent and car finance repayments are the biggest expenses faced by an individual.

While you cannot refinance or renegotiate your rent, you can take a look at car refinance rates and renegotiate your car’s monthly instalments. At BIB Finance, we understand the reasons why someone might be searching for affordable car refinance rates, so we do everything that we can to assist our clients to get refinance deals that are affordable, have low interest rates, and help free up that much-needed cashflow each month.

How Are Car Refinance Rates Calculated?

Car refinancing can seem like a complicated task. When you first apply for a vehicle loan, a monthly instalment will be calculated, including the interest charged and any additional financing fees. You will typically have to pay the car off over five years and the monthly instalment remains the same for the duration of this loan. As you pay off your vehicle, the total amount owing reduces. If you spend two years or more paying off your car and decide that your monthly instalment is too high, you are in a good position to refinance the outstanding amount and get some financial relief.

The refinance instalment will be considerably lower than your current instalment, as the new monthly instalment will be calculated on the amount that is currently outstanding and not the initial loan amount, and over a longer term. Car refinance interest rates will be calculated, which will result in lower monthly instalments. Car refinance loans work on the principle of the car owner applying for a brand-new loan that covers the outstanding amount on the car. The outstanding amount is then paid off with the new loan. This extends the payment period of your loan too.

Refinance Your Car Today

Don’t waste too much time if you wish to refinance your car. Benefit from lower monthly instalments as soon as this month. Simply apply online, give us a call, or send us an email for more information and advice today.


Apply for Refinance.