ADL FINANCING CENTER
Welcome to the finance section of ADL Auto Sales. Not only do we offer great vehicles; we have super finance options. As an independent family owned dealership we have access to AmeriCredit, Capital one, Exeter and 20+ more lenders.
We offer quick easy pre-approvals through Capital One. We also offer a 100% online buying experience! We have 20+ lenders to choose from. Once you submit your credit application; our experienced team of finance experts will find a loan that will suit your needs.
Supporting documents can be submitted online and you will know your terms before visiting us. Put our team to the test; apply today and receive an answer from a ‘real person’ instead of a computerized general email.
Enjoy our personalized touch while buying from home! From vehicle selection to loan selection we have you covered! We cover first time buyers with 0 credit to customers with prime credit and anything in between. That’s the benefit of manually reviewing our loans.
RE-FINANCING YOUR AUTO LOAN
If you have a high interest auto loan and your credit rating has improved, you can refinance your existing loan. By doing so you can qualify for lower interest rate and reduce your monthly payments. Even if your credit situation has not improved, you may still be eligible to get a lower rate because of a competitive nature of Auto Finance Industry. We have been in business for over 18 years and we have saved our customers thousands of dollars by refinancing their auto loans.
What is a Cash Out Auto Refinance
You’re simply taking the equity you have in your vehicle and turning it into cash by refinancing your car or truck with a brand new auto loan.
Example
Let’s say Jason drives a 2022 Mazda 6 that is currently valued at $27,000 and he owes $18,000. This means she has $9,000 in equity in her vehicle.
When doing a cash-out auto refi, he is getting a new loan for $30,000, paying off the existing loan for $18,000 and then taking the $12,000 leftover in the form of cash.
However, not all lenders will allow her to finance 100% of the value of the vehicle. Oftentimes lenders will only allow a loan up to 75% of the vehicle’s value. When this happens, Jason is now only getting $4,500 in the form of cash.
New Loan
$30,000
Amount Lender Will Finance
75%
New Loan Actual Value
$22,500
When he pays off the $18,000 existing loan with the new loan of $22,500, she’ll have $4,500 remaining for the cash-out.
Have a Plan for the Cash
Before you decide to follow through with the cash-out auto refi, make sure you have a valid reason for needing the cash in the first place.
When doing a cash-out auto refi, you’re creating a brand new loan which also creates a new term. By restarting with a new loan, you could potentially pay more in interest in the long run.
However, it may be more economical to access your vehicles equity than getting a high interest personal loan and/or high interest credit card. If you are needing better financing terms, or you like to access your vehicle's equity, we are here to help. Please fill out an application below. Also, we will need your vehicles information. You can email your vehicles VIN, mileage and 10 day pay off to FINANCE@ADLAUTO.COM.