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Should You Refinance Your Auto Loan? Take the Quiz!

by ECCU

checklist_auto

November 2, 2020

If you kept a list of important things to do, chances are refinancing your car loan wouldn’t make the cut. The only time you probably think about that loan is when it’s time to make your car payment. But maybe you should think again.

There are both good and bad reasons to refinance (like stretching your loan out so far that your car won’t be worth what you owe on it). That’s why we created an easy tool to help you decide whether refinancing your auto loan makes sense for you.

Read through each of the reasons below and place a check next to each reason that applies to you, noting the possible issues related to each one. Then, count up your total number of checkmarks to see where you land on the chart below. The more checkmarks you have, the more sense it makes to refinance!

Take the Quiz!

If you’re interested in refinancing, ECCU is here to help! Members can refinance auto loans through ECCU to reduce their monthly expenses and breathe easier. Learn more and use our Auto Loan Calculator to see how much you could save!

If you’re not already experiencing the benefits of banking with ECCU, it’s easy to become a member. Get started today.

Category: Common Cents