Should I refinance my car and undergo debt consolidation?

"I want to consolidate some of my credit card debt and lower my interest rate.

Is debt consolidation and car refinancing the way to go?"

“Both refinancing and debt consolidation can help you reduce the amount of interest you’ll pay as well as your monthly payment (in some cases).
Just make sure to shop around and that you can afford the monthly payment. Unlike credit card debt where you can pay a minimum each month, a debt consolidation loan is the same payment each month, and it’s higher than a credit card minimum.”
Eric Schad
Answered on Jun 17, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.

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