Who Should Consider Auto Refinancing?
Brian Reed, president of a national auto finance company, identifies three types of consumers who should consider refinancing their current automobile loans. The first is the saver. This type of consumer keeps a constant eye on the Federal Reserve Board. The moment interest rates drop, these people try to find out how they can refinance their auto loans to save big on monthly payments. The newly educated remorseful shopper is a consumer who recently purchased the vehicle of his or her choice, but at a less than premium interest rate. These customers love their new car, but need a solution to their poor choice in auto financing. (In order to avoid becoming a remorseful shopper in the first place, find out how to educate yourself before purchasing a new or used car!) Finally, the budgeter is a person whose financial situation has changed since the time he or she originally signed their current auto loan. Consequently, theyre on the lookout for ways they can cut back on monthly spending i
