You can extend or shorten your term based on your refinance needs. Swap My Rate can refinance the amount you owe in your current term, meaning if you have 36 months left, we refinance that to a lower interest rate so you’ll pay less in the same amount of time. Another option may be to lower your rate and extend your term so that you could reduce your monthly auto payments even further.
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When I decide to refinance, will I have to extend the term of my loan or completely restart the term?
Soon, we will begin to offer refinances on many other items such as Boats, RVs, Motorcycles, Mortgages, Investment Properties, Signature Loans, Furniture Loans, etc. Our mission is to continually expand our product offering so that we can bring maximum value to our clients!
Swap My Rate cannot take information on anyone who isn’t on the loan as an applicant, co-applicant, or guarantor. Swap My Rate can take information from someone with power of attorney.
If you are authorizing multiple lenders to pull your credit then yes your credit score may be negatively affected.