Have you ever considered refinancing your auto loan? Even if it decreases the rate by a few points, it could make a huge difference in monthly payments and the amount paid over the life of your loan.
When does an auto refinance make sense?
- You need to lower your monthly loan payment and/or extend the loan term
- Interest rates for auto loans have gone down since your purchase
- Your credit score has improved and you qualify for a lower rate
- The rate your dealer gave you is much higher than your credit union