How do I refinance a car loan?
My boyfriend says now would be a good time to refinance my Nissan. How do I do it?
Answer provided by
Answered on Apr 07, 2021
“In the digital age, refinancing a car is as simple as submitting an online application. The idea is to time the refinancing properly. Typically, you’ll want to keep an eye on car loan interest rates for a few months. This can give you some insight into whether the timing is ideal for refinancing.
In addition, you may want to consider refinancing for these reasons as well:
- Your credit has improved enough to warrant a lower interest rate from the lender.
- You want to lower your monthly payments (through a lower interest rate or by extending the term of your loan or both).
- You find better interest rates with a different lender.
For more information on this topic, check out this article: How to Refinance a Car. “
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