How much interest can you save if you refinance your auto loan?
Wonder if you can save money by refinancing your auto loan? Enter details about your current loan and potential new loan. Discover how much you can save on interest or reduce your monthly payment.
When does it make sense to refinance your auto loan?
If any of these situations describe you, it's worth considering an auto loan refinance:
- You want a lower rate. If rates were high when you purchased your car but have since dropped, you might want to refinance your auto loan to save money on interest. View current rates.
- You want a smaller monthly payment. If you've had a life event that has impacted your finances, you might need a smaller monthly payment. You can explore changing your loan term to get more breathing room in your budget.
- You want to change your lender. Maybe you already have a checking and savings account with Landmark, and you would rather manage your money in one spot. You can refinance your auto loan to change your lender.
- Your credit score improved. If you've significantly improved your credit score, you might qualify for a better rate. This can save you interest over the life of your loan. Use Credit Hub, a free tool available within Digital Banking for Landmark members, to help you understand how to improve your credit score.