Auto loan refinancing is a great way to reduce your loan cost and pick better terms. If you spend time shopping around, you can save a lot of money.

When you refinance your auto loan, you replace your current loan with a new one from another lender. If you get a lower interest rate and keep the length of the loan the same as (or shorter than) the remaining term on your current loan, you’ll save money on interest over the life of your loan. If you extend your loan, you may be able to lower your monthly payment — even if you don’t qualify for a lower rate — but you might actually pay more in interest overall.

ElitePersonalFinance shows you the best auto loan refinancing options. Our lenders offer up to $500,000, and the APR starts at 1.99%.