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The cost of keeping your vehicle on the road each month is a challenge for many. Monthly payments on cars have soared — an average monthly payment of $533 for used vehicles and $726 if you buy ...
It’s no secret that car payments have gotten out of control in recent years. According to a recent report from Edmunds.com, the average monthly new car payment hit a record high of $736 in Q3 ...
Refinancing to a lower rate on an auto loan could help drivers cut their monthly car payments. The Fed is likely to keep cutting interest rates, perhaps by another 1.50% through the end of 2025 ...
Due to this, the auto refinance industry, consumer sentiment and lender environment all are showing positive signals, further increasing the potential for interest cuts in the foreseeable future. As of our last Industry Insights in February of this year, the Inflation rate was 3.35%, however as of July it has dropped to 2.89%. Used Car Book Values
Many car owners refinance their loans to get a more affordable payment. If your monthly budget is tight and reducing your car's monthly payment will help significantly, refinancing can help you out.
Then, use an online auto refinance calculator to estimate your new monthly payment based on the loan amount, current interest rate, current loan length, and loan balance.
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