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Fed rate cuts could make auto loans a better deal. If your current auto loan is high-interest, see if you can save money by refinancing your car.
The cost of keeping your vehicle on the road each month is a challenge for many. Monthly payments on cars have soared — an average monthly payment of $533 for used vehicles and $726 if you buy ...
For example, if your original $36,000 auto loan came with a 7 percent interest rate, even at just one point lower, you could save $1,012 over 60 months. Your Credit Score Has Improved
Your monthly payment amount, current interest rates and your car’s value can all influence your decision. Check Out: 6 Best New Cars for the Upper Middle Class
Then, use an online auto refinance calculator to estimate your new monthly payment based on the loan amount, current interest rate, current loan length, and loan balance.
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