Did you know that your car can do more than just take you places? It can also help with your money situation. Here are three different strategies you can leverage to get the most out of your vehicle's worth.
传统的汽车再融资.
一个传统的 汽车再融资贷款 allows you to replace your existing loan with a new one that has better terms. All future payments will then go towards the new loan.
我将如何获益??
Think of traditional auto refinancing as a trade-in. You swap out your old car loan for a new one with friendlier terms. It can help you secure a lower interest rate, saving you money over the life of the loan. 另外, refinancing can lower your monthly payments, giving your budget some much-needed breathing room. And if you opt for a shorter term with a lower interest rate, you can even pay off your loan faster and save on interest payments.
Not sure if refinancing is right for you? 使用一个 网上储蓄计算器 can help you determine you crunch the numbers and see your potential savings.
套现再融资贷款.
有了现金汽车再融资, you can withdraw cash from your car's value and use it for any purpose. 问题? The new loan is more than what you owe on your car. But the extra cash is yours to spend however you like.
直说吧. 这是个好主意吗?
如果你急需现金, a cash-out refinance loan can provide a financial cushion for unexpected costs, like medical bills or home repairs. It also gives you a chance to work with a different lender who might offer better rates and terms that fit your budget. 如果你有其他债务, using a cash-out refinance loan to bundle them together could lower your overall interest payments and potentially shrink your monthly payments. (If you are looking for other options to consolidate your debt, consider a 债务合并贷款)
然而, there are also drawbacks to consider. If you choose to add cash-out to your refinancing loan, you may need to extend your loan term to make the monthly payments affordable. Meaning it will take you longer to pay off your vehicle. 另外, cash-out auto refinancing does not always guarantee lower interest rates and smaller monthly payments. If you opt for a longer loan term to reduce your monthly payments, you may end up paying more for the vehicle in the long run.
汽车权益贷款.
An 汽车权益贷款 is like getting a second loan using your car's value as a backup. You have to pay back both your original car loan and this new loan, instead of replacing your existing loan (like cash-out refinancing).
再给我详细解释一下.
类似于 房屋净值贷款, an auto equity loan is a loan that is based on the value of your car. If your car is fully paid off, the loan could be up to the full market value of your car. If you still owe money on your loan, the equity is the car's value minus the remaining loan balance.
For example: If your car is worth $20,000 and you owe $5,000 on it, you have $15,000 in equity. That's the maximum you could borrow in this case.
然而, the maximum loan amount you can borrow depends on the lender's policies. Some lenders allow you to borrow your entire equity, like the $15,000 in the previous example. Others may offer loans up to 125% of your equity, 哪个是18美元,这种情况下750美元(15美元),000 x 125%).
Auto equity loans have advantages such as low interest rates due to the collateral nature of the loan. In some cases, they may be easier to get than unsecured loans and do not require homeownership. 然而, managing multiple loans and the risk of losing your car if you fail to make payments are important considerations. 另外, finding lenders for auto equity loans may be difficult as they are not widely available.
不要拥有你的车? Negotiate lease terms or consider a lease buyout loan.
If you're leasing a car, it's like paying a company to use their car. When the lease is over, you have a few choices:
在租约到期之前， you'll find out how much you need to pay to buy the car. 这被称为残值. The dealer might suggest you get a lease buyout loan with them, but you can also get a loan from other places, 比如bat365和信用合作社.
相关文章: The truth about 0% financing offered at dealerships
What should I expect when choosing a lease buyout loan?
当你买断租约的时候, 你成为了这辆车的主人, giving you the freedom to make modifications and drive without any mileage restrictions or overage fees. You can also sell the car at any time and use the funds to purchase a new vehicle. This eliminates the continuous lease payments, freeing up money in your budget for other financial goals.
然而, your monthly payment may increase because loan payments are usually more than lease payments. You might also lose some perks, like free maintenance and auto repairs.
最终, the decision to buy out your lease depends on your personal preferences and financial situation.
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