Some great facts about car loan refinance were featured on the Boston ABC affiliate’s newscast recently.
Refinancing a car loan doesn’t require a lot of paperwork, especially compared to the stacks generated by a home refinance. And for many car owners, the process is worth it.
For example, take a $22,000 car loan at 6.25 percent for 60 months. If you refinance to 2.99 percent, which is one of the best rates right now, the savings would be $1,960 for the life of the loan.
And cars can be refinanced at any point in time. However, you should only refinance the existing, unpaid balance instead of extending the term of the loan.
You can read the whole story, and see the video, by clicking this link.
And remember, if you want to see car loan refinance rates instantly (and at no cost to you), you can run a car loan refinance auction at MoneyAisle.com. Find out for yourself how much money you could be saving!
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