How can I lower the monthly payment on my car loan?
"How can I lower the monthly payment on my car loan? I was looking at lenders for a car loan, but some of the monthly quotes are out of my price range."
“To lower your monthly payment, you can do a number of things:
You can extend your loan for a longer period.
Although your interest rate will be higher, your monthly payments will be lower.
You could also pay a larger downpayment.
A larger down payment will decrease your total loan amount, which can lower your rates.
And as you would with car insurance, make sure that you shop around at credit unions and banks to get the best rate possible, which will also help to lower your monthly payment.”
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