Consolidating auto

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Road Loans has put together an auto refinance program that can offer some relief when life throws you a curveball.The Cash Back Auto Refinance Program allows you to do exactly what the name says: get cash-back when you refinance your car!If you have a number of debts, you may wish to merge them all into one loan. There may be a number of reasons why you would wish to do this.Below are the most common reasons: To learn more about what debt consolidation is and how it works in Canada, click here.Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice.We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances.All examples are hypothetical and are for illustrative purposes.We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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This usually happens when your credit score changes dramatically or when the national interest rates have dropped significantly.To consolidate all of your debts, your first option would typically be to approach your bank or credit union and see if they can help you.If you have a mortgage, you might look to see if you have enough equity in your home to consolidate your debt with your mortgage.This is usually people’s preferred option since mortgage interest rates are usually much lower than other loan interest rates, and mortgages can be amortized (paid) over 25 years.This means you can arrange much lower monthly payments than with another type of loan.Then, the person or people pay one monthly payment to the new lender.

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