When should I refinance my
existing auto loan?
As with any personal finance decision, it really
depends on your individual goals. If your goal is
to reduce the amount you are paying in interest,
you may want to consider an auto refinance loan
with the same or reduced term as your existing loan.
If your goal is a smaller payment, you may want
to consider extending the term remaining on your
existing loan, although this may increase the total
interest paid over the life of your loans
Are auto refinance loans growing in popularity?
Yes. Since auto loan interest rates have been at
historically low levels, an increasing number of
consumers are choosing to refinance their existing
auto loans.
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