4 Reasons to Refinance Your Auto Loan

by Scott Markland Updated on: May 24, 2019

Did you know you can refinance your car, truck, RV or motorcycle for a lower interest rate? Many consumers think of refinancing their home, but refinancing your auto loan is a great way to slash your auto payments and enjoy savings each month!

1. Lower your monthly car payment
2. Decrease the interest rate on your loan
3. Skip a payment
4. Pay less to the banks and put more money in your pocket

A $20,000 AUTO LOAN AT 10% vs 5%

10% = $5,500

total paid in interest

vs

5% = $2,645

total paid in interest

Enjoy $2,855 in savings! Lowered payment by almost $50/month!

About The Author


Scott Markland


Read More

by Rate Genius

Auto Refinance Rate Trends

Each month, RateGenius asks auto refinance lenders and industry experts to see where they believe interest rates are headed. This month (September 2019), 20 percent of experts asked believe auto refinance rates will rise over the next month or so; 60 percent think rates will fall; and 20 percent believe rates will remain relatively unchanged…

by Julia Guardione

It’s true: multiple credit inquiries can count as one

Credit inquiries can dock your score by multiple points, but they’re a necessary evil if you’re trying to open a new line of credit. Luckily, there are times where multiple inquiries will combine to count as only one. Any time you apply for a new credit-based product, such as an auto loan, credit card, or…

by Rate Genius

What’s a Lease Buyout Car Loan?

When leasing a car, truck, or SUV - dealers give the option to "buy out" the vehicle at the end of the lease contract. This lease buyout is set at the vehicle’s residual value. Why is it a good idea to buyout a lease? You can avoid paying annoying "end of lease" fees and charges.…

review review

Customer Reviews

Read our 10925 Certified Reviews

4.9

READ OUR REVIEWS
apply now apply now

Apply Now

Lower your interest rate and drop monthly payments by an average of $76*/month!


GET STARTED