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Buick Financing 101: How to Refinance Your Car Loan

Buick Financing

Life is incredibly unpredictable, especially when it comes to finances. If something has occurred in your life and you would like to decrease your Buick financing costs, you can always consider refinancing your car loan to get a lower monthly payment. To learn more about car loans, visit us at Peruzzi Buick GMC to learn more. 

Look Over Your Current Loan 

The first step you need to take before refinancing your car loan is to look over your current contract and gather a few different pieces of information. Read your contract and find your current APR, monthly payment, the time left to repay the loan, and how much you still owe. Please contact our customer service experts if you need assistance. 

Determine Your Car’s Value 

You might find that your Buick vehicle is actually worth less than the amount you owe to us – this is referred to as being “upside down” on your loan. If you have negative equity, you may only be able to refinance if you have excellent credit. 

Check Your Credit 

Knowing your credit score before getting pre-approved at our finance center can give you a much better idea of the sort of loan payment you can afford. It’s easy to check your credit score completely for free online using a variety of different tools. If you have poor credit, improving it before applying can give you more favorable terms. 

Get Pre-Approved 

Once you’ve gathered all of the appropriate information and determined the value of your vehicle compared to the amount you owe, it’s time to begin the refinancing process. It’s a good idea to get a quote from a few different lenders and compare the terms to pick the refinancing contract that’s right for you. 

Refinance Your Car Loan at Peruzzi Buick GMC Today 

If you’re ready to start the refinancing process or have any other questions, stop by our Fairless Hills, PA, Buick dealership today. If you need further assistance, we also have a rotating selection of Buick specials that you can take advantage of. Come see us for additional information!