IRVINE, Calif. — CarFinance.com recently compiled data
showing the Top 10 most frequently refinanced makes and models by the site's below-prime
customers since last year. 

Among the brands listed, domestic badges represented the top
three as well as half of the 10 brands listed by CarFinance.com. The brand list
included:

1. Chevrolet
2. Ford
3. Dodge
4. Nissan
5. Toyota
6. Kia
7. Honda
8. Jeep
9. Hyundai
10. Chrysler

The site's report indicated that below-prime vehicle owners
focused on lowering their interest rates and/or monthly payments through
refinancing tend to own sensible and durable vehicles.

Midsize sedans with a reputation for longevity and value
such as the Nissan Altima, Honda Accord and Toyota Camry, dominated the models
list, which went as follows:

1. Nissan Altima
2. Ram 1500
3. Honda Accord
4. Toyota Camry
5.  Dodge Charger
6.  Ford F-150
7.  Toyota Corolla
8.  Chevrolet Impala
9.  Chrysler 300
10. Honda Civic           

"As these lists indicate, these are generally sensible
consumers owning practical vehicles and making prudent choices to help them
weather and survive an economy that has challenged so many," CarFinance.com
chief executive officer Jim Landy.

"This is not a list dominated by luxury vehicles – quite the
opposite," Landy continued. "With longer ownership cycles and the quality of
even the most economical of vehicles higher than ever before, making that
investment work for the long term can make a lot of sense in the current
economic climate."

Landy went on to mention that auto refinancing, like
refinancing a house, can offer an important financial opportunity for consumers
– and more and more are choosing this option. 

According to CNW Research, auto loan refinancing could top
14.1 percent of existing contracts in 2014, a 12-percent increase since 2012,
and a 228-percent increase since 2009.

CNW attributed the rise, in part, to the fact that many
consumers who purchased during the recession were hit with high interest rates and
refinancing offers the chance to lower that rate.

CarFinance.com believes this trend appears to be reflected
in its customer data which shows that recession-year models (2007 and 2008)
were among the most refinanced model years (although some consumers may have
purchased the vehicles used and out of their model year).

The site emphasized the data also speaks to the greater
longevity of today's vehicles. The top three model years for refinanced
vehicles by below prime consumers are 2008, 2010 and 2007 respectively.

With no SUVs or luxury vehicles making the top ten list, analysts
went on to say that the dominance of top-selling midsize and fuel-efficient
sedans, two solid trucks and automaker brands split almost evenly between
domestic and imports, the list reveals a consumer making smart refinance
choices on solid vehicles that are destined to last. 

Interestingly, the list diverges significantly from
CarFinance.com's recently released Top 10 most purchased vehicles by below
prime consumers, which was also full of practical vehicle choices, but included
smaller, even more affordable, vehicles such as the Nissan Versa and
Sentra. 

"This is probably a
reflection both of the redesigns these vehicles have had since the recession —
which enable customers to migrate to them without sacrificing too much in terms
of amenities — and a customer who is more budget conscious post-recession," CarFinance.com
analysts said.

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