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How can I beat interest on a car loan?

How do I lower my interest rate on a car loan? I feel my current rate is too high, and I am tired of paying so much for my loan every month.

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Phoebe Mah · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Paying off a loan with a high interest rate can certainly be challenging. Thankfully, an easy way to beat the interest on your
car loan
is by refinancing.
Refinancing is a great way to save money on your car loan’s interest rate and lower your monthly payments. On average, refinancing a car loan can lower your APR by 2.4%. While this may not sound like a lot, this percentage can save you hundreds, if not thousands, of dollars in interest and make a big impact on your monthly budget.
That said, finding the right refinancing lender can be a huge pain.
Jerry
removes the hassle by giving you one app that instantly connects you with top companies to meet your financial needs. Whether you’re looking to shorten or extend your loan term, make sure you have a loan that fits your budget, so you’re only paying what you have to.
MORE: How to refinance a car
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WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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