Editor's Note: This story first appeared on Shoprate.com and is republished here with their permission. Click here to read the original post.

By now, you are probably aware that historically low mortgage refinance rates have created an opportunity for millions of Americans to save money. But were you also aware that you might have a similar opportunity on your car loan?

Refinancing a car loan may not be as common as refinancing a mortgage, but any time there is a significant drop in interest rates it is a possibility worth considering. Here are seven things you should remember when looking at refinancing your car loan.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.