Understanding Cash Out Refinance Loans

Obtaining a cash out refinance loan means applying for a new loan to pay off an existing loan and receiving cash after it is repaid. Cash out refinance loans apply to home loans and auto loans.

You may seek an auto cash out refinance loan to:

• Change your auto loan terms
• Access cash
• Restructure (consolidate) other credit accounts

Cash Out Refinance Loan Benefits

With an auto cash out refinance, you could:

Access Cash

You may be able to borrow more than it takes to pay off your existing auto loan with a cash out refinance loan.

In fact, Wells Fargo Financial is one of the few lenders that will refinance a vehicle for more than its current value. That means access to cash over and above the value of the new cash out refinance auto loan.

Use the available cash however you choose. For example:

• holiday expenses
• summer landscaping
• back-to-school expenses
• unplanned medical bills
• vehicle expenses
• home maintenance

Cash Out Refinance Fact:

Customers who refinanced their auto loans with Wells Fargo Financial received an average of $3,410 cash out! ¹

Enjoy Tailored Loan Terms

Specify the cash out refinance term that best suits your budget. Shorter loan terms mean fewer monthly payments. For a break in your monthly expenses, extend the cash out refinance loan term for a lower monthly payment.

Pay Less Interest

Cash out refinance loans with lower APRs mean paying less overall interest if the repayment terms decrease or remain unchanged.

Manage Fewer Accounts

Combine other accounts into a cash out refinance auto loan and pay fewer monthly bills. Then, make your cash out refinance auto loan payment online to spend less time managing your expenses.

Depend On Consistent Payments

A fixed-rate cash out refinance auto loan means the same payment amount each month.

Take A Pause In Your Payment Cycle

With a cash out refinance auto loan, you may be able to skip the next month's payment ² , depending on the next auto loan payment due date and when you close the cash out refinance loan.

Consider A Cash Out Refinance

A cash out refinance may be right if:

• you want a lower monthly auto loan payment or rate.
• you qualify for better terms than when you originally financed your vehicle.
• your expenses have increased, and you could benefit from a lower monthly payment.
• you rent or have already accessed available equity from your home.

For a free assessment, submit your information online or call toll-free 1-866-452-3413.