5 Reasons to Refinance Your Auto Loan
And Save Money
Owning a car can be expensive.
Next to your rent or mortgage, your car payment can be one of your largest household expenses.
According to AAA, the average cost of owning and operating a car is
$9,666 per year
and even more if you drive further or own a larger vehicle.
Luckily, there are some pretty simple ways to save money on car expenses without requiring a lot of sacrifices.
Should You Refinance Your Auto Loan?
With interest rates at all-time lows, refinancing your auto loan could save you a significant amount of money.
If saving money isn’t enough, there can be additional benefits to refinancing your auto loan.
5 Benefits of Refinancing
Over the life of an average car loan, you can end up saving thousands of dollars in payments by lowering your interest.
1. Get a Better Interest Rate
If your budget has changed and your other expenses have gone up, it can make sense to secure a lower monthly payment.
2. Lower Your Monthly Payment
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