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What you may not know about auto consolidation loans
Many people already know about home loan consolidation. But, they may not know about consolidation loans for your car.
Vehicles are assets, and auto loans can be refinanced, too. With an auto consolidation loan, you may refinance with new terms or a lower rate. In many cases, there is room to combine other expenses into the new loan.
Apply for an auto consolidation loan online or call 1-866-452-3413
The benefits of auto consolidation loans
- Streamline expenses
Wells Fargo is one of the few lenders that refinances vehicles for more than their current value. So, even if you still owe a majority of your existing auto loan, you may still be able to simplify your expenses with an auto consolidation loan.
With an auto consolidation loan, you could combine other loan balances into a new auto loan if you refinance more than your current auto loan amount. After the original auto loan is paid off, you could pay a credit card balance or two, for example, with what's left.The result:
- One monthly payment vs. two or three
- Fewer bills to manage1
- Potentially lower overall monthly payments
- Refinance one auto loan to lower the payment.
Refinancing one auto loan to reduce your monthly payment may better fit your needs. Many vehicle owners who auto refinance with a Wells Fargo auto consolidation loan actually lower their monthly payment.
Use our auto refinance calculator to help determine your new auto consolidation loan payment.
- Access cash from your vehicle
With an auto consolidation loan, you could unlock cash from your vehicle. In fact, customers who refinanced their auto loans with Wells Fargo received $5,4892 or more cash out.
Apply now for your assessment from Wells Fargo
Join almost 1 million customers who financed their auto loan with Wells Fargo! Call 1-866-452-3413 or apply for a consolidation loan online for your evaluation.
1 Wells Fargo Auto Finance does not make loans for educational purposes. Please call Wells Fargo Education Financial Services at 1-800-658-3567 if any portion of the proceeds is to be used for educational purposes, or to refinance/consolidate any loan you incurred for such purposes.
2Granting of loan is subject to our credit requirements. The $5,489 figure is based on customers who refinanced their loans with Wells Fargo during the period from January 1, 2014 to March 31, 2014.