Auto loan refinancing is an option for people who have acquired bad credit car loans. Since most lenders reserve their best deals for customers with good to excellent credit rating, your options might be limited if you financed your car purchase when you still have undesirable credit.
However, as you promptly submit your car loan payments each month, your credit score improves one step at a time. After at least six months or more, you should have already made a significant progress in improving your credit. As soon as your credit score goes up, you should consider refinancing your loan to reduce your monthly car loan payments.
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