When you refinance a loan, you replace your current loan agreement with a new one. Money from your new loan pays off the old note, and you enter into repayment on your new, refinanced auto loan. People typically refinance their car loans because they can get a lower interest rate or monthly payment by doing so.
Legal
* This value was calculated by using the average monthly payment savings for our customers from [payment_savings_range].
** For well-qualified borrowers. Rates are subject to change and may not be available in all states. Customers must meet income qualifications, debt to income requirements and other vehicle restrictions such as loan to value, age, and mileage.
© The Savings Group, Inc., All Rights Reserved