Auto Refinance Savings Add Up Here are examples of how much you could save: When you purchased your car, the dealership may have charged you a higher interest rate than you deserve based on your credit profile. We work for you the best auto refinancing terms to meet your individual situation. If you are looking to reduce your monthly auto loan payment, get a lower interest rate from what you are currently paying, get up to $1,000 cash back or even shorten the term of your loan, OpenRoad Lending can assist you in accomplishing your goal. Our expert team of refinance specialists will take the time to understand your unique financial situation and goals. They will explain exactly how much money you can save with auto refinance. They will also review the products you purchased when you first acquired your vehicle to make sure you received a fair price and to see if OpenRoad can save you money in that area as well.
Reducing Your Monthly Car Loan Payment The illustration below shows how OpenRoad can lower your car loan payment and save you thousands over the life of your loan. By completing an OpenRoad auto refinance loan, this customer saved $94.33 on their monthly payments and $5,659.00 over the lifetime of the car loan. Our customers on average save more than $70 per month from their existing auto loan payments.
| Loan Amount - $32,000 | Original Loan | New Refinance Loan | | Term | 60 months | 60 months | | Interest Rate | 12.9% | 6.9% | | Monthly Payment | $726.46 | $632.13 | | TOTAL SAVINGS OVER LIFE OF THE LOAN = $5,659.00 |
Shorten the Term of Your Auto Loan This illustration shows how we can shorten the amount of time you have to pay on your auto loan and reduce the interest rate. Even in this scenario, this customer shortened the term of the loan by 6 months, lowered their rate of interest paid and OpenRoad Lending can still reduce a car loan payment $18.37 per month, saving them $3,852.42 in total finance charges and knocked off 6 total payments. This allows you to build equity much faster in the vehicle.
| Loan Amount - $21,000 | Original Loan | New Refinance Loan | | Term | 60 months | 54 months | | Interest Rate | 12.9% | 6.9% | | Monthly Payment | $476.74 | $458.37 | | TOTAL SAVINGS OVER LIFE OF THE LOAN = $3,852.42 |
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