When you roll off the dealership with your new ride everything looks great. But maybe now your auto loan has started to feel like a mistake.
You might think about refinancing your auto loan. You just get a new loan to replace the old one.
There are 3 reasons this might be a good move for you:
1: If interest rates have dropped since you made your purchase.
2: If your credit score has improved since the first loan. If so, congratulations. A better credit score means a better rate.
3: If you need to lower your monthly payment. By refinancing, you could extend the term of the loan so you make smaller payments, but more of them.
When you refinance, some transaction fees may apply, but you can usually roll those into the loan.
If it sounds like refinancing your auto loan is a good move, ask about it where you do your banking. Soon, you can be back to driving the deal you love.
Do us a favor please. Tell your friends about us so they can be smarter about their money too.
