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Posted in Auto Loans
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bea01122

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Should I refinance my auto loan?
With an APR of 7.0% and $400 monthly payment. Should I try to refinance my car? Will it be possible to get lower APR and monthly payment?
Just an example.

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Check with your local bank or credit union, as most will offer around 2.9% APR for those with excellent credit or 4.9% APR for average credit. A lower APR will generally reduce your monthly payment as long as you take out the loan for the same amount of time you still owe on your current loan.

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