Is Now a Good Time to Refinance Car Loan in Australia?

Yes. With current interest rates at their highest in years, you’re probably paying too much for your car loan. We can help you find a better car loan rate by refinancing. Our job as your Personal Car Refinance Lending Specialist is to find and tailor the best car refinance loan solutions at the lowest rates and repayments available on the market today. We have over 30 different car loan lenders on our panel all wanting our customer’s business, so rest assured that you have come to the right place. Refinancing your current loans could be a good way to reduce your weekly repayment commitments. It can also be looked at as a way to reduce the time it takes to pay off your debts. Not to mention, it could potentially help reduce the total interest payable, saving your hard-earned money. Whether you are looking at the possibility of refinancing your car, caravan, bike or personal loan, Loans and Mortgages  has access to a wide range of lenders with extremely competitive rates.

Why should I refinance car loan in Australia?

• Lower Interest Rates: If interest rates have fallen since you first took out your car loan, refinancing can help you save money by securing a lower interest rate. A lower interest rate can significantly reduce the total amount of interest you pay over the life of the loan.
• Lower Monthly Payments: Refinancing your car loan can also help you lower your monthly repayments, making your car loan more affordable. This can be particularly helpful if your financial situation has changed, and you need to reduce your expenses.
• Change in Credit Score: If your credit score has improved since you took out your car loan, you may be eligible for a lower interest rate, and therefore, lower monthly repayments.
• Change in Lenders: If you're unhappy with your current lender, refinancing allows you to switch to a different lender that offers better terms, lower interest rates, or better customer service.