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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 ...
For example, if your original $36,000 auto loan came with a 7 percent interest rate, even at just one point lower, you could save $1,012 over 60 months. Your Credit Score Has Improved
For first-time car buyers, one of the most daunting parts of negotiating a good deal right now is interest rates.The average auto loan rate for someone with excellent credit is 5.25%, according to ...
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
Shopping around now could potentially help you find a loan with a lower interest rate. How to Refinance Your Auto Loan The process is straightforward if you decide to refinance your auto loan.
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