One of the easiest ways to save money and lower your monthly expenses is to refinance your current auto loan. After a year or two of on-time payments your credit score might be much better than it was when you originally applied for your current auto loan.
According to the Federal Reserve the average interest rate on a 60 month auto loan is currently 4.21% if you are paying a higher rate you stand to save a lot of money by refinancing. When you refinance at a lower interest rate it can substantially decrease the total amount that you pay on the loan and your monthly payment. Even a 1% drop in your interest rate means money more money in the bank. It doesn’t cost anything to refinance an auto loan, if you can find a lower interest rate or better terms it is free to get the new loan. As an added bonus, when you refinance you can often skip a monthly payment without penalty. Attempting to refinance your auto loan without any help can be a nerve racking process. Web2Carz.com has developed an innovative process to compare multiple lenders for auto loan refinancing. You can find a lender with a better interest rate and lower payments from the comfort of your home.