Nov 4th, 2007 by jbrown
Now we all hear about refinancing your mortgage but Cars.com suggests refinancing your auto loan. “Ed Powell, chief consumer officer at LendingTree.com, says that it’s important to remember that consumers still have good opportunities to improve their auto loan terms via refinancing in any rate environment.”
But they also warn you, “Refinancing isn’t for everyone, though. If you bought a car in the last few years and got a promotional loan with 0 percent, 1.9 percent or 2.9 percent financing from the automaker, you have little motivation to refinance your vehicle at a rate of 6 percent to 7 percent. On the other hand, if you have an auto loan of 7 percent or higher, refinancing is worth a look. ”
They also have 10 Helpful Tips as well if this is something you are really interested in. Take a look –> Cars.com
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Don't forget to factor insurance costs into your research. Get accurate insurance rate information on any vehicle and shop for the best deal.
Get real price quotes from local dealerships. Don't buy a car without checking the price first! Pit dealers against each other to get the best deal possible!
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Catherine
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