Auto refinancing is one of the best kept secrets around for saving you money, but most people never thought of refinancing their car. Car refinance is the same as home refinance. When refinancing car loans, you pay off your current car loan with a refinancing car loan from a different lender that has a lower APR. The truth is many banks will refinance your car at a lower rate after 12 not late, consecutive payments. Once you can establish your record with a bank for your car, refinancing is a simple process.

The example below, illustrates the savings on a loan for $16,500 initially borrowed for 60 months. The loan amount was 21%.
Take a look at what happens if you refinance that same loan at 7%.

Interest Rate (APR) Monthly Payment Total Interest On Car Loan 21% $446.38 $10,282.83 7% $330.63 $3,337.57

Not only are you saving $115.75 per month, but you're also not giving the bank $6,945.26 of your hard earned money Use the list below, to connect with the right bank.