Are you considering refinancing your current car loan to secure a lower interest rate or to achieve a more manageable monthly payment? If you’re one of the drivers asking, “Does Nissan Finance refinance?” the team here at Hall Nissan Virginia Beach is happy to help explain your options. Here is an overview of your Nissan refinancing options.
Refinancing Directly Through Nissan
Nissan Motor Acceptance Company is Nissan’s captive lender. They typically do not offer direct refinancing for existing auto loans. Their primary role is financing the initial vehicle purchase or lease of Nissan vehicles through dealerships such as ours. However, there are other options.
Options if Financed Elsewhere
If your original auto loan was financed through a bank, credit union, or other private lender, refinancing might be an option directly through them or by applying with a different external lending institution. The process involves the following steps:
Checking your current credit score
Comparing the interest rates and loan terms offered
Applying with potential lenders, including banks, credit unions, or other specialists
Considering potential pros (lower rates and payments) and cons (fees, potentially paying more interest overall if extending your loan term)
What If Another Company Services Your Loan?
Sometimes, Nissan Motor Acceptance Company will transfer the rights and servicing for your loan to another company. If this is your situation, that company’s policies will dictate whether specific refinancing options are available, though in some cases, the original loan terms will remain in effect. If you’re unsure of your options, contact the lender or our finance professionals at Hall Nissan Virginia Beach.
Nissan Financing Options in Virginia Beach, VA
Here at Hall Nissan Virginia Beach, our experienced finance experts are happy to walk you through your financing and refinancing options. For personalized guidance on your specific auto financing situation, visit us today. We’ll help you find a solution that fits your needs.