Yes. RMO Auto Finance offers auto loan refinancing that may help you lower your monthly payment, reduce your interest rate, or adjust your loan term.
Who Is Eligible:
- Borrowers with existing auto loans from any lender (including RMO)
- Vehicles that meet age and mileage requirements (typically under 7 model years and under 100,000 miles)
- Good standing on your current loan with no recent late payments
Benefits of Refinancing:
- Lower Rate: If your credit has improved or market rates have dropped, you may qualify for a lower APR.
- Lower Payment: Extending your loan term can reduce your monthly payment.
- Shorter Term: Refinancing into a shorter term can help you pay off the loan faster and save on total interest.
How to Apply:
- Log in to MyRMO and select "Auto Finance" then "Refinance."
- Enter your current loan details and vehicle information.
- Review your new rate and term options.
- If approved, RMO pays off your existing lender and your new loan begins.
There is no application fee. To discuss whether refinancing is right for you, schedule an appointment through MyRMO or by calling us to speak with an Expert.