Revive Your Rainy Day Fund. Refinance Your Car Updated: 9/29/2008 11:30:17 PM Print Article Email Article           (ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? When these situations arise, auto refinancing could turn your circumstances around to your advantage. By refinancing your auto loan, you could get a lower interest rate and a lower monthly payment. Customers who apply for auto refinancing through companies such as RateGenius Loan Services can potentially see a great savings in their monthly budget. RateGenius customers, on average, reduce their interest rate an average of 3.67 percent from their previous interest rate, and an average of $65 off their existing monthly auto payment. This type of savings frees up money for you to pay for a crisis or to put into an emergency-only savings account, making the unexpected a lot less stressful.   "Many people don't realize that you can refinance your auto loan just like you can refinance your mortgage," says company CEO Chris Brown. "In fact, auto loan refinancing works very much like home refinancing, with one big difference -- with the exception of a title transfer fee required by law, there are no costs for the consumer." Auto loan payments are generally a bigger percentage of your budget. Refinancing will give you the advantage you have been searching for -- to pay less for something you already have -- and there isn't even a charge for the service. "You get a new lender when you refinance for an existing loan, which often means you get a better rate," explains Brown. "With a new loan you can skip a few payments, add or remove a co-applicant if you have one, add products (such as GAP insurance and extended warranties) and extend the payment term." It only takes a few minutes to apply for auto refinancing, by visiting www.rateGenius.com. A loan adviser then compares offers from the company's network of lenders to find the best deal for your individual situation. RateGenius has partnered with numerous lending institutions that provide customers with one of the most financially stable and diverse lending networks in the industry. The entire process can be completed in 24 to 48 hours. In some cases, the company is able to arrange loans that allow up to 90 days with no payments. Imagine three months without a car payment -- money you can use to fix your daughter's tooth, for the surgery your dog needs from eating the hallway rug, or the new water heater. The savings you could see vary, but can be substantial. For example, if you have a $30,000 loan payable over 60 months at 12.5 percent interest, your monthly payment will be $674.95. By refinancing with rateGenius at a new interest rate of 7.5 percent, your monthly payment will drop to $601.14. "Your process and customer service was excellent," says J. Cottrell, a customer from Arlington, Texas. "I would rate your service a 10. The turn around time of my package and willingness to answer my questions really bolstered my confidence that I was with a first class organization. If I ever have another refinancing need or could refer you future business, I will." Start building your rainy day fund today. Go to www.rategenius.com to see how much you can save. Copyright © 2007, ARAnet, inc. ARA Content Enter your ZIP code to compare the savings offered by the discount dental plans in your area. Take the first step toward a healthier smile and start saving today! > Find my dentist > Find a ZIP code             Additional Articles Protect Computer Files Before it's Too L... Get a Toll-free Number for Under $10 a M... Best Way to Back Up Your Computer: Onlin... How Safe are Your Computer Files if a Di... Protect Your Kids with Free and Safe E-m... Software Can Give You the 'Write' Stuff Protect Your Kids from E-mail Threats Free and Safe E-mail Accounts for Kids Credit Checks that Could Hurt You Tune-up Your Hard Disk for a Faster PC Think You Can't Get a Cell Phone? Think ... Want a Cell Phone Without Signing a Cont... Give the Gift of Wireless The Must-Have Holiday Gadget of the Year... The Holiday Gift That's a Hit at Every P... Hook Your Parents Up to E-mail, without ... Sign Your Grandparents Up for E-mail, No... This Holiday Give a Whole New TV Viewing... HDTV -- The Holiday Gift That Keeps Givi... 1,056 Live TV Channels on Your PC

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