The Consumer Portfolio Services (CPS) program offers a variety of benefits to individuals who borrow funds from the FDIC. These services include Refinancing, Repossession, Rate discounts, and more. This article discusses several of the benefits of this program. It also includes some of the laws that may affect your decision to take advantage of the program.
Refinancing your car loan
Refinancing your car loan is one way to improve your credit. This will lower your monthly payments, as well as the overall cost of interest. If you are looking to refinance your auto loan, you may want to consider Consumer Portfolio Services, Inc.
Founded in 1991, Consumer Portfolio Services is an indirect lender that provides automobile financing to consumers with limited or bad credit histories. Its loans can be obtained through franchised or independent dealerships.
Consumer Portfolio Services works with car dealerships in 48 states. Car shoppers can refinance their auto loan after making the first six to 18 payments. However, it is important to remember that the initial loan term will vary from lender to lender.
Refinancing with flexibility
One of the biggest draws of a Consumer Portfolio Services auto loan is the flexibility. The company allows you to stretch out your payments by up to a year. Those with a modest income or a shaky credit history are in luck. And the best part is you don’t have to sacrifice a quality car to get a better rate. You can even refinance if you so choose.
If you’re
Continue reading