Refinance Your Used Car: Auto Loan Rates Worth the Hassle

Used car auto loan rates can fluctuate a great deal. The big question is whether it's worth the hassle to refinance with a used car auto loan that has a lower rate. The answer is "yes."

If your auto loan rate is above 5% you should refinance. Saving just 1% can translate to substantial savings and allow for a smaller payment. You can even pay off your loan faster.

The ability to refinance auto loans is a well-kept secret. Many people do not even know that it's an option. Used car auto loan rates fluctuate just like mortgage rates do, and, just as it can pay to rewrite a mortgage, it can pay to rewrite an auto loan.

Although most lenders will not refinance their own auto loans, finding a lender that offers low used car auto loan rates isn't difficult at all. In fact, the Internet makes it easy to track down competitive used car auto loan rates.

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