Car Loan Tip No. 48 The True Costs of a Refinancing Auto Loan True, the thought of paying less monthly and the savings this brings drives many people to get a refinancing auto loan. Unfortunately, it is not as easy as that. For one, your current loan has a non-pre-payment clause, meaning you cannot end the loan earlier than the agreed end date. Otherwise, a penalty will be imposed. If this is the case, savings from refinancing auto loans may be greatly reduced so you are not really saving as much as you though you would. Written by: Anthony Recto Next Car Loan Tip
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