Stretch Your Paycheck with Bank Refinancing
Tired of living paycheck-to-paycheck? It’s a stressful cycle to break. And when an emergency expense comes up, it can throw off your entire budget....
Apply for an Auto Loan without ever stepping foot in a branch.
From finding the home of your dreams to financing it, closing the loan, and even insuring it... we want to make every step in your home-buying experience as easy and as affordable as possible.
From auto loans to refinancing a mortgage, WEOKIE has the resources and tools to create a lending program tailored to your needs.
From E-statements to bill pay and mobile banking, our services make your life a little easier.
At WEOKIE, our purpose is to build strong communities by supporting financial growth and well-being, one person at a time.
Sometimes, getting your finances in order can include going back and revisiting old decisions. This can include looking at any debt you are currently paying off in order to determine if you are currently utilizing the best debt-payoff strategies that are available to you.
There are a number of ways to get out of debt faster than just continuing to make minimum monthly payments to your various loans.
Some methods include:
The first time you take out a loan to make a major purchase, such as a house or car or home improvement project, that process is called “financing.” A lender evaluates your credit history, debt, and current income to determine whether or not to loan you the money you need for your purchase.
They offer you a loan with financing terms, which include: how much you owe, how much you will pay in interest, and how long you will take to pay back the loan. There will also be other fine print, including late penalties, payoff terms, etc.
Refinancing, then, is when you have a lender offer you a new financing agreement that replaces the old one.
Here are some things you need to know about refinancing:
You probably haven’t heard about auto loan refinancing as frequently as you have heard about home refinancing, also called a “second mortgage.” That doesn’t mean that auto refinancing isn’t something to consider!
Auto refinancing can be a great way to improve your financial situation. The people who benefit the most from refinancing are those who have seen an improvement in their finances since taking out a car loan but are still paying a really high car payment or have many years left on their loan.
In order to refinance an auto loan, you will want to shop around with different lenders, including federal credit unions like WEOKIE, to see who can offer you the best terms.
There are some things you can do before you seek out a refinancing agreement with a lender.
First, check out our blog post on the basics of refinancing an auto loan.
Next, work on improving your debt-to-income ratio (DTI), which compares all of your income and debt. The two main ways to do this are to increase your income and reduce your debt. If you can’t do both of those things, focus on one of them.
Finally, strategize ways to boost your credit. The better your credit score, the better your refinancing rate will be.
At WEOKIE, we have helped countless members refinance their auto loans in order to reduce their monthly payments and improve their credit scores. We would be happy to help you figure out if refinancing is the right path for you. Your specific financial circumstances and goals will help us come up with a great plan of action for you.
We look forward to helping you take the next steps towards improving your financial situation. Check out our easy loan calculator, and let us know how we can help you during this difficult time. We might be able to help you save hundreds or thousands of dollars. We’ve already helped many people just like you.
Contact us today to set up an appointment or call us today at (405) 235-3030 or 1-(800) 678-5363 to visit about refinancing your auto loan.
Tired of living paycheck-to-paycheck? It’s a stressful cycle to break. And when an emergency expense comes up, it can throw off your entire budget....
Did you know you can refinance your auto loan to possibly lower your rate and your payment? But first, it’s important to understand how refinancing a...
Refinancing your auto loan is a great way to save money. It can possibly help you pay off your loan faster and with lower interest. If you bought a...
When people think about refinancing a major loan, they often think about refinancing a home by taking out what is sometimes called a “second...