Cash back auto refinancing makes sense when the new loan provides the cash you need and better auto loan terms than you currently have. The immediate potential benefits are obvious: lower interest, lower monthly payments, and relatively cheap cash for other expenses.
The Trinity Cash Back refinance option gets you the rate you want and the money you need
Monthly payments can be lowered by reducing the interest rate, and / or extending the total time it takes to pay off the vehicle. Customers should understand that extending the total repayment costs more because they are paying interest over a longer period of time. Conversely, the total interest paid can be reduced by dropping the interest rate and also by shortening the loan's term. Typically, the shorter the loan term, the lower the interest rate, so borrowers can double up on savings by choosing a new loan with a shorter repayment schedule.
For a lot of people, automotive loan deals are better today than they were a few years ago. Many who bought cars with dealer financing got rates several percentage points higher than necessary. With a cash back refinance, you can tap into the value of your currently financed vehicle to get cash back.
Why try cash back?
Cash back auto refinancing exists to meet three needs:
Lower your interest rate
Lower your monthly payment
Get additional cash for other expenses
Trinity cash back refinancing
Besides the obvious benefit of putting extra money in your pocket that you wouldn’t otherwise have, there are many others ways to take advantage of this financing option.