How can consumers determine if refinancing their auto loan is right for them?
Capital One Auto Finance recommends that consumers consider the following criteria before deciding to refinance their auto loan. • Look out for prepayment penalties: Determine if your current auto loan has any penalties for paying off the loan early. This will impact how much you can save from refinancing. • Check your credit score: Your interest rate will depend on your credit score. Get a free copy of your credit report at www.annualcreditreport.com and opt to see your credit score. Make sure your credit report is accurate and report any inaccuracies to one of the major credit bureaus. • Beware of lender fees: Capital One Auto Finance charges no application, origination or early termination fees. If your lender charges any fees to process your loan, consider applying with a different lender. Learn More about Auto Loans and Refinancing Capital One Auto Finance offers consumers a range of information and tools to educate themselves, including auto loan calculators, an auto buying guide
