Auto Refinancing and Consolidation for Luxury Vehicle Owners

Posted on 27 September 2011 by Tony Santos

Even though it’s almost common knowledge that cars depreciate about 20 percent the moment the driver drives their vehicle off the dealership’s lot, many do not realize that the vehicle will continue to depreciate in the range of 7-12 percent for every 14-15,000 miles driven. And what’s even worse, is that while other types of cars cannot compete with the intrinsic value and prestige of driving luxury vehicles, these vehicles can depreciate greater than the national average. Chances are though that the average luxury car driver drives their car on special occasions or around certain groups of people, which helps the owner maintain the original value in their purchased vehicle. 

Chances are you probably purchased your luxury vehicle prior to the changes in the economy and/or put a substantial amount of money down prior to purchase. Auto refinancing is a great option for luxury car owners, because they usually have built a solid-credit history and would like to either restructure their bills and/or consolidate other bills into their auto-loan to decrease the amount of paperwork or online bill payments made each month. The consolidation of bills saves time the luxury car owner could better use doing something more meaningful than making out so many bills.

The best time to begin looking into a luxury auto-refinance options would be sooner than later to avoid further depreciation, higher interest rates, and more bill payments. The time it takes to refinance a luxury auto-loan is minimal and for the most part, can be processed the same day of initial setup. Especially when you are looking in the market to purchase a new vehicle for your wife, husband, or child, it would help to have your vehicle already refinanced, so that you can have the extra cash flow to afford the gift immediately.

Since refinancing a luxury car loan allows the owner to skip a payment after closing the deal, the luxury car owner can use the skipped payment amount to pay for a few oil changes or other maintenance service the car needs or to purchase a car-wash membership for a year or something. All of these little savings really add up that the car-enthusiasts can use to enjoy their luxury car and maintain its value like the cleaning of the inside and outside. Even the luxury car owner sometimes forgoes aesthetic maintenance to take care of the bare-bones-kind of maintenance like yearly services and oil changes. Luxury car auto loan refinancing allows the luxury car owner to actually add value to their luxury car, through the years.

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