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Should You Refinance Your Car Loan Since the Fed Cut Interest Rates?

Table of Contents

  • When should you refinance an auto loan?
  • How to know whether refinancing will save you money
  • Other options besides refinancing if you can’t afford your auto loan payment
  • How to refinance your auto loan

Article updated on Oct 9, 2024

It's more than just the interest rate. Consider these three other factors before refinancing your auto loan.

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Our Experts

Dana MenardTiffany Connors

Written by 

Dana Menard

Dana Menard

CFP, founder and lead financial planner at Twin Cities Wealth Strategies

Dana Menard is a Certified Financial Planner with over 20 years of experience in the financial services industry. He is the founder and lead financial planner at Twin Cities Wealth Strategies.

See full bio

Edited by 

Tiffany Connors

Tiffany Wendeln Connors is a senior editor for CNET Money with a focus on credit cards. Previously, she covered personal finance topics as a writer and editor at The Penny Hoarder. She is passionate about helping people make the best money decisions for themselves and their families. She graduated from Bowling Green State University with a bachelor's degree in journalism and has been a writer and editor for publications including the New York Post, Women's Running magazine and Soap Opera Digest. When she isn't working, you can find her enjoying life in St. Petersburg, Florida, with her husband, daughter and a very needy dog.

See full bio

CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.

Reviews ethics statement

Our Experts

Dana MenardTiffany Connors

Written by 

Dana Menard

Dana Menard

CFP, founder and lead financial planner at Twin Cities Wealth Strategies

Dana Menard is a Certified Financial Planner with over 20 years of experience in the financial services industry. He is the founder and lead financial planner at Twin Cities Wealth Strategies.

See full bio

Edited by 

Tiffany Connors

Tiffany Wendeln Connors is a senior editor for CNET Money with a focus on credit cards. Previously, she covered personal finance topics as a writer and editor at The Penny Hoarder. She is passionate about helping people make the best money decisions for themselves and their families. She graduated from Bowling Green State University with a bachelor's degree in journalism and has been a writer and editor for publications including the New York Post, Women's Running magazine and Soap Opera Digest. When she isn't working, you can find her enjoying life in St. Petersburg, Florida, with her husband, daughter and a very needy dog.

See full bio

CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.

Reviews ethics statement

Why You Can Trust CNET Money

Table of Contents

  • When should you refinance an auto loan?
  • How to know whether refinancing will save you money
  • Other options besides refinancing if you can’t afford your auto loan payment
  • How to refinance your auto loan

Jeffrey Hazelwood/Getty Images/CNET

Dana Menard

Written by

Dana Menard

CFP, founder and lead financial planner at Twin Cities Wealth Strategies

Dana Menard is a Certified Financial Planner with over 20 years of experience in the financial services industry. He is the founder and lead financial planner at Twin Cities Wealth Strategies.

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Writers and editors and produce editorial content with the objective to provide accurate and unbiased information. A separate team is responsible for placing paid links and advertisements, creating a firewall between our affiliate partners and our editorial team. Our editorial team does not receive direct compensation from advertisers.

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Source: cnet.com

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