You don’t necessarily have to hand over your keys to improve your LTV. According to the RateGenius 2021 State of Auto Refinance report, approved borrowers shaved their interest rate by 5.5% on average. This helped the average borrower save about $990 on an annual basis. Now, imagine if you applied these savings to your loan.

Refinancing can help you land a lower interest rate and, in turn, a lower monthly payment. (mehr …)