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Fed rate cuts could make auto loans a better deal. ... the loan to a 72-month term and pay $426 per month, which would reduce your monthly car payment by $184. ... of car ownership by refinancing ...
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
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.
The first step is to get quotes from lenders that are willing to refinance car loans. You'll need to provide the lender with basic information about your credit score, vehicle, and payment history.
At 72 months, the new car loan interest rate was at 8.67% in Q4 2023, the Fed reports. (These numbers are simple unweighted averages of each banks’ most common rate.)
Time your car loan refinance right to receive the maximum benefit. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach ...
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related to: auto refinance rates 72 months calculator- 4236 Buckeye Parkway, Grove City, Ohio · Directions · +1 614-221-3233
explorefrog.com has been visited by 10K+ users in the past month