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It is estimated that consumers spend almost around $20 billion against excessive interest rate per year. Such a high amount is lost from consumer's pockets only because they enter into a contract with car dealers who offer a high interest rate to avail high profits. Usually car dealers borrow loan at wholesale interest rates and then lend to borrowers at a higher interest rate. "A borrower must always do proper researching before opting for an auto loan. Some people usually get trapped by auto dealers and end up paying high interest rates. The burden of paying a higher monthly payment leads the borrowers to go for an auto refinancing option. This helps them lower their interest rate and monthly payments", explains Anthony Tribunella, Expert and Director of Operations at Auto Relief Group. "Another option to lower your interest rate can be a loan modification procedure. Loan modification service providers negotiate and renegotiate loan terms with the banks and financial institutions and convince them to agree on terms that are beneficial to the borrower and ultimately reduce the financial burden of them", Anthony adds further. For the past fifteen years, the Modification Specialists of the Auto Relief Group have been helping consumers in all aspects of the car and financing business, and due to the current recession, have decided to dedicate themselves to assisting consumers renegotiate their car loan or lease, avoid repossession and maintain ownership of their vehicle by working directly with lenders to restructure loans, extend terms or reduce payments. About Auto Relief Group Auto Relief Group offers Car Loan Modification service, we assist car owners in renegotiating their car loan or lease, avoid repossession and maintain ownership of their vehicle by working directly with lenders to restructure loans, extend terms or reduce payments. We provide our clients with customized reports, expert advice and negotiation assistance when restru

The steps to 'Car Loan Modification' are relatively simple, and basically involve getting in touch with the specialists that can help you modify your auto loan. The first step in this simple process is to obtain your own options report. An options report is very similar to a credit report or an appraisal for mortgaging or buying a home. This type of document will help you to understand your options and will give you a clear idea and prepare you for everything that will occur during your auto loan modification process. There will be multiple options for you to choose from and all manner of alternatives that make it easy to find the solution that is right for you. The options report will be written in a very clear and easy to understand language so that the consumer can quickly move through this type of information and make the decision that they feel is right for them.

"Another option to lower your interest rate can be a loan modification procedure. Loan modification service providers negotiate and renegotiate loan terms with the banks and financial institutions and convince them to agree on terms that are beneficial to the borrower and ultimately reduce the financial burden of them", Anthony adds further.

Lenders hate wasting more time and money on "bad" deals and prefer to get constructive proposals that make sense. Hence, negotiation and renegotiation becomes easier, especially at times of recession. We understand the things people have been through during this difficult phase of recession hit economy.

With time, automobile industry and its trends has changed drastically. It is due to the fast pace of innovativeness in technology and increased usage of machines and computers; we can notice the inventions occurred in the past many years in our cars, trucks, SUVs, etc. The latest innovations in this industry are green cars, electric cars, concept cars, and many others.

An auto loan modification is the latest refuge for the individuals who do not want to let their vehicles repossessed and lower the credit score but at the same time don't have the enough funds to meet the EMIs. Interestingly, ARG team with their extensive research has designed various auto loan modification services that suit different individuals and can even assist in lowering the monthly car payment by as much as 50%.

Repossession is a term generally used when banks and other financial institutions take back an object that was given to an individual as rent, lease, etc.

A loan/ debt which is taken out to buy a new or used car, is called as a car/ auto loan. There are of two types, i.e. direct and indirect loan. When the borrower/ consumer directly take loan from a bank or any financial institution, it is called as a direct loan, and when a consumer gets loan as a result of a deal between the car sellers and bank/ financial institution, it is called as an indirect loan.