This morning we're going to talk about auto refinancing.
Now, most people don't realize that auto loan refinancing is a
way to not only reduce what you're paying, but can also bean
option for meeting your other financial needs, like
consolidating loans, or maybe taking a family vacation.
Margarita Hensley, senior business development consultant
at SpringLeaf Financial is here to explain.
Good morning.
Good morning, thank you for having me.
Thanks for being here.
Now, I know you've been with SpringLeaf 14 years plus.
You're part of their mission.
Let's talk about that mission.
At SpringLeaf Financial Services, our mission is to be
the leading provider of responsible loan products,
distinguished by an exceptional customer experience.
We provide solutions to our customers' financial needs, and
empower them to be well informed about our products, how credit
works, and managing their money by insuring that also they have
the ability to repay their loans with predictable and affordable
monthly payments.
And let's get informed about auto-refinancing loans.
What are those?
The auto refinance loans, the way that it works is if you have
already purchased your vehicle, and if you want to save any
money or reduce your monthly payments, you have the option to
refinance your existing loan.
Hmm..
If you want to, you could also refinance your existing loan and
borrow additional funds to cover any other unexpected expenses.
The process is super fast and easy, unlike mortgage
refinancing.
So, when someone wants to refinance their auto, let's say,
what are the reasons they're giving you?
They want to keep some cash?
They want to lower the payments?
What are the reasons?
MAny of our customers come to us because they want to lower their
monthly payments.
In some cases their credit risk might have improved, in some
other cases they might have some financial situation decrease.
One of our customers, for example, was able to refinance
his auto and we were able to reduce his payment by about
$283 a month.
Oh my goodness.
$283 a month??
Yes.
That's a good chunk of change.
Absolutely.
If you think about it, that amount is about $3400 a
year, which you could use for any other things, like a
vacation, or maybe you know, cover some unexpected expenses.
Maybe put the money in the bank, so you know, that's some of the
reasons that you could use the refinancing for.
So, let's say I want to do this Margarita, what do I need to do
to make this decision?
The process is super fast and easy.
If you are interested, you can go to our website,
SpringLeaf.com.
You can put in your application online.
All you need is your personal information, and your employment
information, and basic information about your vehicle,
which you can get from your insurance or your registration
card, and then we take care of the rest.
The process is super fast and we can give you an answer within 30
minutes, from the time that you complete your application.
Now that was a good case scenario, the $283 a month.
What's the reasonable one?
I'm sure it varies.
Yes, many of our customers come to us, like I said before,
because they want to also borrow additional cash, so one of our
customers, we had another customer also that we were able
to consolidate three credit cards into one bill and also
give him about $3700 that he wanted for his vacation, and we
were able to reduce his total monthly payments, by about $150.
So, it varies from customer to customer.
But a big benefit there as well.
Absolutely.
Now this is, I think, easier than refinancing a home.
I mean, most people do that, but this one sounds so easy.
It's much easier.
Like I said before, we can give you an answer within 30 minutes.
You could also get the money the same day, and we don't have any
hidden costs or hidden fees.
Awesome.
Well, thank you very much.
I think a lot of people learned something today, including
myself.
I do appreciate it.
Thank you so much.
And if you'd like to learn more go to our website,
TheBalancingAct.com.
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