PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
How do you lower your monthly car payment?
I feel like I’m paying too much for my monthly car payments. Can I lower them?
Will Baldwin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Car loans can feel like a burden, especially if you have a long loan term of 60 months or more. Thankfully, there are a few ways you can try to lower your monthly payments.
First, you can refinance the car. This will get you a new loan on your old loan, and you can either lower your interest rate or extend the loan term to try to get smaller monthly notes.
If refinancing interests you, the
Jerry
app is a good place to start. On average, car owners pay $85 less every month by refinancing their auto loan. (Check to see if Jerry’s refinancing services are available in your state.)If refinancing isn’t an option, you can try to trade your current car in for a cheaper one, whose loan will also be cheaper. You can
trade in a car with a loan
, but you will be responsible for any remaining balance on the existing loan if you still owe more than the car is worth. View full answer
- Gregory R.
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.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance for Your Car
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
