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As with other types of loans, the overall cost of a car loan comes down to one major factor: the annual percentage rate. The APR includes both interest and lender fees, expressed as a percentage.
Fed rate cuts could make auto loans a better deal. If your current auto loan is high-interest, see if you can save money by refinancing your car.
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
Refinancing a loan means switching one loan for another in hopes of getting a better interest rate, terms, or both. People often refinance loans to get lower monthly payments on the money they ...
You can still refinance an auto loan with bad credit, but getting a good rate can be difficult. Borrowers with low credit scores generally pay much higher interest rates.
Refinancing also comes with the risk of higher interest rates. If your credit has dipped or interest rates have gone up, you may find interest rates higher than your current one. In the current ...
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