The vast majority of consumers are under a false impression. It’s a common belief that once you take out your car loan, you’re married to it until the end of its term. In reality, this couldn’t be further from the truth. Refinancing options abound, and enlightened consumers are taking advantage of this little-known opportunity to save up to hundreds of dollars each month.
You might have been overpaying on your auto loans until now. But knowledge is power. And when you are aware of your options, it actually enables you to see if you can save on your monthly auto loan payments.
These are just a few examples of life changes that you may have experienced that could qualify you for lower rates on your car loan. Many changes to your circumstances could lead to better rates, but you won’t know unless you check your rates regularly.
Most lenders have no incentive to tell you information about refinancing because refinancing saves you money over the life of your loan. The less information you have on refinancing, the harder it is to get hold of genuine savings opportunities, and the less likely consumers are to pursue those opportunities. Refinancing could save you hundreds of dollars a year and it’s not as hard as you think to see what your options are.
When Lindsley entered her loan information in www.recyclx.com she was amazed at how much she was overpaying for her current loan.
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