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Geneva Auto Finance Fequently Asked Questions. Serving Southern California

At Geneva Auto Finance we believe that anyone refinancing should ask a lot of questions, that way when it comes time to choose a company for your auto refinance, you’ll quickly learn why others are choosing Geneva Auto Finance for their auto re-finance!

Geneva Auto Finance, making automobile re-finance simple.

Geneva Auto Finance FAQ

Below are some frequently asked questions about auto re-financing:

 

So How much can I save?
Each customers scenario is unique and different as to what they can save by re-financing their auto loan.

 

What is an auto refinance loan?
An auto re-finance is a loan that pays off your existing auto loan, similar to a mortgage re-finance, but with a much simpler and faster process.

 

How does it work?
Your new lender pays off your old loan and the title to your vehicle is transferred to your new lender.

 

Why should I re-finance my existing auto loan?
Typically, consumers re-finance to get a lower interest rate in order to reduce their interest costs, or to lower their monthly payments. Auto loan rates are at very low historical levels, so consumers are increasingly taking advantage of this by re-financing.

 

When should I re-finance my existing auto loan?
As with any personal finance decision, it really depends on your individual goals. If your goal is to reduce the amount you are paying in interest, you may want to consider an auto re-finance loan with the same or reduced term as your existing loan. If your goal is a smaller payment, you may want to consider extending the term remaining on your existing loan, although this may increase the total interest paid over the life of your loans.

 

Are there any fees associated with an auto re-finance loan?
Typically, the only fees associated with an auto re-finance loan are fairly standard; transfer of lien holder fees (usually $5 to $10) and state re-registration fees ($5 to $75). These estimated fees may vary by lender, state of residence, etc. Be sure to check if your existing lender has any pre-payment fees. This could factor in to your decision to re-finance.

 

How much will I save by re-financing my existing auto loan?
How much you save depends on things such as the remaining balance of your existing loan, the difference between your old interest rate and the new interest rate, the term of your new loan, etc.

 

Are auto re-finance loans growing in popularity?
Yes. Since auto loan interest rates have been at historically low levels, an increasing number of consumers are choosing to re-finance their existing auto loans.

 

What do I need to do to apply for an auto refinance loan with Geneva Auto Finance?
Simple. Fill out the secure online application. You'll receive a response typically within hours. If you're approved and you accept one of the offers, the lender will take care of the auto re-finance process for you.

 

 

Have more questions? Contact us!