Should You Refinance Your Auto Loan? If It Accelerates Your Savings

For consumers, refinancing usually calls to mind home mortgages, especially in this low interest environment. But should you refinance your auto loan? Applying this refi strategy to auto loans can accelerate their savings. Especially when the economy suffers a recession and consumers don’t have as much cash to spend each month, they’ll take on longer loans. They pay less each month, sure, but with higher interest rates on these long-term loans, they shell out more in the long-run. There are some strategies to get lower interest rates, but it may not be for everybody. Go inside the mechanics of auto loan refi in this video.