How can I lower my interest rate on a car loan?

+1 vote
asked Nov 21, 2018 in Buying & Selling by im21jackson (310 points)
How can I lower my interest rate on a car loan?

1 Answer

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answered Nov 21, 2018 by Christeen (23,850 points)
To lower the interest rate on your car loan you'll need to speak to the lender of the auto loan and refinance the auto loan which means taking out a completely new auto loan with new Terms.

Tell the lender that you want to refinance the auto loan with a lower interest rate.

Your payments may be higher as a result though so only refinance the car loan if you can afford the higher payments.

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