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What is auto refinancing?
Curious about Auto refinance
Auto refinancing refers to the process of replacing an existing auto loan with a new one, often with better terms and interest rates. Essentially, you take out a new loan from a different lender to pay off your old one, and then make payments on the new loan going forward. The goal of refinancing is to save money on interest, reduce your monthly payments, or both. It can also be used to change the length of your loan term, your monthly payment, or the type of interest rate you have. It is important to consider the costs associated with refinancing, such as any fees or charges, before deciding if it is the right option for you.
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