Buying a car has always been an occasion leaving one with mixed emotions. Most people are anxious to get a new car, but they have trepidations about getting beat up by a car salesman. Usually, after being humiliated, insulted and browbeaten by the salesman, one just gives up and gets a car with payments that can be afforded.
That may be a far-fetched description of buying a car, and perhaps that is what goes through one’s mind when imagining what will happen. There is more truth than fact to the part, however, about just getting a car for which the payments fit the budget because that is a more frequent occurrence than many people think.
Car dealerships and used card companies like it that way because their financing arrangements are sometimes less than stellar. The money behind the dealer and used car operations come from large banking concerns and lenders who live in a very competitive environment.
The lender will lay down a flat rate of interest they will charge, called the “floor rate” and then the auto dealer or used car company is offered a slice of the pie. Extra interest is offered to them, perhaps 2% to 4% and then the dealer or used car people cash in at the time of closing.
All of this means that the consumer has to make higher payments. If the consumer were to have done business with a local bank or credit union, he or she could probably negotiate a rate similar to the floor rate, with reasonable credit.
But now, Ignition Financial, in Austin, Texas has an answer to all of those bad loans. They will offer to refinance your current auto loan, and in more cases than not, they can save you a lot of money on your car payments. They offer a free analysis of what your payments would come to if you took that step, and if you have a fairly good credit rating, you could come out on top.
It doesn’t hurt to find out if you will do well, and if you can save money, it will free up some cash that can be used for other obligations, for savings, taxes, retirement, new furniture, or even another car.
Call Ignition today, and tell them that you want to, “slash my payments” and they will be glad to accommodate your needs.