Quick Summary: Refinancing your auto loan can lower monthly payments, reduce interest rates, or adjust loan terms. Clark County Credit Union (CCCU) offers expert guidance and free tools to assist you.

Refinancing your auto loan can be a smart financial move for many reasons. It allows you to replace your existing loan with a new one, often with more favorable terms. CCCU provides resources to help you determine if refinancing is right for you.

Lower Monthly Payments

One major advantage of refinancing is the potential to reduce your monthly payments. This can be achieved by securing a lower interest rate or extending your loan term. Lower payments can free up cash flow, which can be used for other financial priorities.

Reduce Interest Rates

If your credit score has improved since you first financed your vehicle, you might qualify for a lower interest rate. Refinancing your auto loan can save you hundreds—or even thousands—of dollars over the life of your loan. Lower interest rates mean more of your payment goes toward the principal balance, helping you pay off your car faster.

Adjust Loan Terms

Refinancing can also help you adjust the term of your loan. Opting for a shorter term allows you to pay off your loan more quickly and save on interest while extending the term can reduce monthly payments for added financial flexibility.

Are you looking to get an auto loan from a credit union? Check out our blog to learn the steps to secure an auto loan.

Access Free Tools and Expert Advice at CCCU

To help you decide, CCCU offers an Auto Refinance Calculatorto estimate your potential monthly savings. It’s a free tool designed to simplify the decision-making process.

Refinancing your auto loan is an excellent way to save money or manage your payments more effectively. For personalized advice, speak with a CCCU financial representative. Call us at 702-228-2228, and we’ll help you determine if refinancing is the right financial move for you.