Most People Don’t Know About This Trick to Cut Your Car Payment by $1,850/Year
You’re responsible. You make your car payment on time each month. And how are you rewarded? By being charged more than you should.
Most people don’t realize this, but they’re overpaying on their auto loans — to the tune of up to $1,850 per year.
But there’s good news: A company called Way can help you find and compare better interest rates for your auto loan if you have fair or average credit. The average Way user saves about $1,850 annually — and you could have this done today.
Cut Your Car Payment by$1,850 This Year in Just 30 Minutes
Way saves you money by refinancing your auto loan. You probably know people who have done this with their mortgage, but 31% of people don’t realize you can do this with your car loan, too.
One thing we really like about Way’s auto refinancing is that you don’t just get quotes from one lender; you get competing offers from 10 of them.
Way commissioned a survey and found that not only had 31% of respondents never heard of auto refinancing, they also found that about half of them didn’t really understand how it works.
Here’s how it works: If the interest rate on your auto loan is more than 15% (you give away at least $15 for every $100 you pay on your loan), Way can match you with a new lender who’ll pay off your current car loan and offer you a better interest rate.
Your loan will need to be at least six months old, your car no more than 10 years old, and your credit score should ideally fall between 580 and 650.
If that describes your situation, and you’ve got a full-time job, it’s time to stop overpaying for your car, truck or SUV.
How to Get Started
You’ve kept up your end of the bargain and proven lenders can count on you to make your monthly car payment. Now’s the time to get the interest rate you’ve earned.
It takes just a few minutes to see how much an auto refi can save you. If you like one of the quotes Way serves up, you can shake hands on your new loan in just 30 minutes.