“Just as millions of Americans refinance their homes to save serious money, you may be able to refinance your car. While some might refinance to stretch out their loan over a longer period and therefore lower their payments, others are refinancing to put money back into their pockets,” says Jennifer Openshaw of Market Watch from The Wall Street Journal.
Openshaw interviewed Mukesh Chatter, the founder and CEO of MoneyAisle.com surrounding the benefits and little known money-saving strategy of car loan refinancing. Chatter discusses the importance of interest rate, where most consumers tend to focus on lower payments at the initial financing of their car loan.
To adjust the discrepancy, Chatter suggests refinancing. To learn more about what it takes to refinance your auto loan, read the rest of the article here.