When should I refinance my car loan?

  • September 10, 2021 at 9:18 pm #33
    FinancialX
    Keymaster
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    People should consider refinancing their car loans when they have improved their credit score or increased their income since they purchased the vehicle. Rates change all the time and most services will try and help you find a better interest rate and/or payment for free. (They make money on the financing) It’s easy (all online) and free. One note to be aware of is that after pre-approval the company you choose will have to pull your credit report and this is known as a “hard inquiry” which will effect your credit score.

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