Tresl Blog

A man with money and a nice car after getting a good car loan rate
General Auto Finance Education
Jimmy Lipham

Must-Know Tips for Getting a Good Car Loan Rate

You likely can’t predict the rate you’ll get just by polling your neighbors. Still, a little research never hurts. Here’s the latest data on auto loans—and more importantly, how you can improve your odds of securing a good car loan rate yourself.

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Icons that show the difference between APR and interest rates on car loans.
General Auto Finance Education
Jimmy Lipham

APR vs. Interest Rate For Car Loans

Most car loan contracts list two rates, your APR and your interest rate. The higher the APR, the more you’ll pay over the life of the loan. Lenders will give you both rates on your car loan paperwork so that you can better understand your loan.

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Someone driving in the city after learning about how car refinancing works
Auto Refinance
Jimmy Lipham

How Does Car Refinancing Work?

When you refinance a car, you replace your current car loan with a new loan of different terms. In practice, auto refinancing is the process of paying off your current car loan with a new one, usually from a new lender.

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A man talking to a dealer about his car lease buyout
Lease Purchase
Jimmy Lipham

What Is A Car Lease Buyout?

A car lease buyout is different than buying a typical new or used car. Not only do you have knowledge of your leased car’s history but you have a few financial considerations that are unique to car lease buyouts.

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A man entering his new car after learning how car loan interest works.
General Auto Finance Education
Jimmy Lipham

How Does Car Loan Interest Work?

Most car loans use simple interest, a type of interest of which the interest charge is calculated only on the principal. Simple interest does not compound on interest, which generally saves a borrower money.

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A man showing digital car financing services
Auto Refinance
Jimmy Lipham

How To Refinance A Car

At a basic level, refinancing is the process of replacing your current car loan with a new one. While people refinance their cars for many reasons, you ideally want to reduce both your monthly payments and the cumulative interest charge you pay over the course of your loan.

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3 cars that represent the three reasons people should refinance a car.
Auto Refinance
Jimmy Lipham

Three Reasons to Refinance a Car

Most people refinance a car loan to 1) lower their monthly payments, 2) decrease their interest rates, or 3) remove (or add) someone on their loans. Let’s look at each reason for refinancing.

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A person with keys after deciding to buy a company car.
Company Car Purchase
Jimmy Lipham

Should I Buy A Company Car?

You may have the option to buy a company car when your employer or its fleet management company removes vehicles from its fleet. When you buy a company car, you get two primary advantages over other car purchases: a low price and great information on its condition.

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Someone driving in a car on the street wondering, "When Should I Refinance My Car?"
Auto Refinance
Jimmy Lipham

When Should I Refinance My Car?

Most people refinance their car loans when 1) their credit has improved, 2) they need to lower their monthly payments, 3) national interest rates have changed, or 4) they would like to remove (or add) someone as a co-signor on their loan. Let’s look at each scenario.

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