8 steps to getting rich and building 5 reasons to refinance your auto loan

....and save money

Next to your rent or mortgage, paying off your car can be one of your biggest household expenses.

Buying a car can be expensive.

According to AAA, the average cost of owning and operating a car is $9,666 per year and even more if you drive further or have a larger vehicle.

Fortunately, there are some very simple ways to save money on car expenses without requiring a lot of sacrifices.

With interest rates at an all-time low, refinancing your auto loan can save you a significant amount of money.

Should you refinance your auto loan?

If saving money isn't enough, refinancing your auto loan can have additional benefits.

5 Benefits of Refinancing

Over the lifetime of an average car loan, you can save thousands of dollars in payments by lowering your interest.

get a better interest rate

If your budget has changed and your other expenses have gone up, it may make sense to get a lower monthly payment.

reduce your monthly payment