Does Refinancing Your Car Loan Make Sense?

When does auto refinancing make sense? If you bought your car from a dealer, chances are that the specific APR of your auto loan was never part of the negotiation. Car salesmen are very good at keeping the money discussion focused on the amount of your monthly payment and never how much that money is costing you. You may be buying a $20,000 car with 15% financing but the dealer is really selling you a $28,500 installment note.

Useful information about automobile financing

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