How to Refinance a Car Loan (The Right Way)

How to refinance a car loan the right way!
(I may be compensated by LightStream through this link.)

Refinancing your car loan can save you significant amounts in interest, but it's not always what you need to do. In this video I'll cover why you'd want to refinance your car loan and I'll cover how to refinance a car loan. It's not too complicated, but you need to be aware that it's not always your best move. Refinancing a car loan is only a good idea in certain situations. I hope you learn something new and thanks for watching!

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#honestfinance #refinance

[denoogle]

Im still here.
Waited a yr. Built credit score up and got approved for 3.74% was 14%
Thanks!

[TeamOrangeSoda]

i’m still here. 21 yrs old took a 13k loan at 26% interest for 5 years. car payment is 366 a month. did it out of desperation, i knew it was a bad deal but it’s been a year, i have a better job and my credit score is a 740 now. youtube research before i pull the trigger. thanks for the info👐🏽

[SageTP]

First APR on my loan is 21.33% (I’m 19 so I’m building my credit) it’s been 9 months and I’m about to refinance for 3.70% I’m about to save myself $11, 000 😳 I agree with everything this man says

[KyleRossetti]

I went from 14.9% interest rate to a 2.09% after fixing my credit! Thanks for your videos!

[mallenyv]

i’m still here. i literally had no idea what refinancing a car even meant. thank you for clearly it up

[beasantos]

After ive watched this video, i went to my local credit union to inquire refinance my car, i currently have 16.83 interest rate, 72 months and 500 monthly payment, after i inquire in credit union they offer me of 8%interest rate, 48 months and 445 monthly pament. Thank you for this informative video.

[Exodia]

I'm still here and glad I watched this. Currently have a loan for 14k at 13% on a car. I can make the monthly payments no problem, but need the lower interest rate so I can make higher payments and be done with it sooner. Thanks a lot!

[jasontong]

"Im still here" Thanks so much Jason for the help! Ive been contemplating about refinancing since i have a 5% interest at 5 years right now but my credit union is offering 2.95% at 2 years!!!

[MsKJackson]

I'm still here. I have to be. I'm basically an orphan surrounded by idiots so I need videos like this to survive in life😂

[champagnelitty]

I’m still here never understood purpose but you helped me a lot

[shill]

I'm still here. I cosigned for my kid when he got a car. Its been a year but refinancing will free up my debt to income ratio again and let him build credit for himself. This sounds like a good option!

[angelkingzz]

Im in the process of trying to refinance my car, and I just want to thank you for all the information that you provided. I currently have a loan that I’ve been paying for 2 YEARS. I have a 15% interest rate. I am now looking to refinance my car, and pay it off in full once my interest rate has been lowered.

[monomoo]

Simple and straight to the point, this was exactly what I needed!

[AndreaSanchez-dzpv]

Refinanced my car after watching this video! I was at 7% for 84 months (I needed my payments low bc I just started a new job and wasn’t making a lot of money) but I got a promotion within 6month and was stuck with that 7% interest rate! So I watched this video and called my local credit union and now I’m at 3.7% for 60 months! So helpful!

[The.Sugar.Honey.Ice.Tea_]

I’m still here ! Trying to get a better rate on my loan. Your tips are very helpful thus far.

[CLASSiv]

I'm still here! Glad to know my general concept of refinancing was correct. Hoping to lower my 11% interest to below 5% after making on-time payments all year!

[MermaidCat]

I’m still here and finished your entire video! Thank you so much for this information. Very straight to the point & easy to understand.

[bixcomminlive]

I’m still here. Got my interest rate lowered from 20% to 6% since I signed my active contract with the Army. I was naive and thought that would lower my Payoff estimate as well. I’m young and new to this all.

[fuelinsanity]

I'm still here. I've got 25% interest on my car because I didn't establish credit since I paid off my truck 16 yrs ago. I'm gonna look into getting a credit card for small purchases. But I'm getting offers since my credit has been going up. Haven't missed any payments since November of 2023. My payment are twice a month at $245. I'd like to lower my payments to 350 a month instead of close to $500.

[ipfmcd]

Great advice, thanks Jason. I applied with Lightstream and hopefully I get approved and you get that commission! I appreciate your considered time in answering the exact question I had AND a solid recommendation.