Most drivers don’t realize it, but they’re paying too much on their auto loans — as much as $1,850 a year in extra interest.
There’s a bright side: a company called Way can help you uncover and compare lower interest rates for your car loan if your credit is fair to average. The typical Way customer trims about $1,850 from their annual costs — and you could have this sorted out today.
Cut Your Car Payment by $1,850 This Year in Just 30 Minutes
Way helps you save by refinancing your auto loan. You’ve probably heard of refinancing a mortgage, but nearly one-third of people don’t know you can do the same with a vehicle loan.
One standout feature of Way’s auto refinance service is that you don’t receive a single quote from one lender; instead you get competing proposals from up to 10 lenders.
Way commissioned a survey and discovered that 31% of participants had never heard of auto refinancing, while roughly half admitted they didn’t really understand how it operates.
Here’s the process: If your auto loan’s interest rate exceeds 15% (meaning you’re paying at least $15 in interest for every $100 of your loan), Way can pair you with a new lender who will settle your existing car loan and present you with a lower rate.
Your loan should be at least six months old, your vehicle no older than 10 years, and an ideal credit score range for this service is about 580 to 650.
If that fits your circumstances and you’re employed full time, it’s time to stop overpaying for your car, truck, or SUV.
How to Get Started
You’ve done your part and proven to lenders that you reliably make monthly car payments. Now it’s time to secure the interest rate you deserve.
It only takes a few minutes to check how much an auto refinance could save you. If one of the rates Way provides appeals to you, you can finalize your new loan in roughly 30 minutes.
