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Here’s the short answer: Yes, you can refinance a car loan more than once. However, multiple refinances are not always beneficial—it depends on your loan and financial situation.You may want to refinance again if:You now qualify for a better rateYou need breathing room in your budget You need to make a change to your loan, like adding or removing a co-borrowerRefinancing a second time may be less advantageous if:You have significant pre-payment penalties in your contractYou have less than a year left of your loanYour loan is underwaterYou don’t qualify for a better rateRead on for a more in depth look at multiple refinances, how they work, and the factors involved in deciding whether a repeat auto loan refinance is right for you. Refinancing a Car Loan More Than Once: Your GuideRefinancing a car loan again after you’ve already refinanced can be a great choice under the right circumstances. In this guide, you’ll find information on:The refinance process for an additional refinanceReasons to refinance multiple times When not to refinance againHow a repeat refinance will affect your creditRefinancing a car loan multiple times: what you need to knowIt is possible to refinance your vehicle more than once. Here’s a quick overview of the essentials of multiple refinances.In this section, you’ll find answers to the following key questions:Can you refinance a car loan more than once?How does refinancing a second time work?Can refinancing a second time save you money?Can you refinance a car loan more than once?Yes. Many people refinance more than once for various reasons. There is no policy limiting how many times you can refinance.How does refinancing a second time work?Refinancing a loan that’s already been refinanced works just the same as refinancing the first time around. You’ll:Get quotes and check eligibilityFind your best dealSign with your selected new lenderHave the lender pay off the old loanStop making payments on the old loan and start making payments on the new loan to the new lender according to your new loan termsCan refinancing a second time save you money?Refinancing a second time can save you money, especially if your financial situation has significantly improved or interest rates have dropped. However, refinancing more than once is not guaranteed to save you money, and saving money is not the only reason drivers choose to refinance more than once. Some people choose to refinance a second time to lower their monthly payments or change other terms on their loan, even if it means paying a little more over the life of the loan.Just like with your first refinance, you should check the fine print of your old loan to make sure you know about any prepayment penalties or other charges you might incur when paying off the loan early. These fees can add up across multiple refinances, but for many drivers, the fees are worth it for the benefits of refinancing.Get started with your repeat refinance todayWant to know if you could save with a refinance? Check your eligibility and discover how much less you could be paying monthly with a free, no-commitment quote from Auto Approve.Get your free quote to see how much you could save.Reasons to refinance multiple timesRefinancing more than once can be beneficial if:Your credit has gone upYour income has gone up or your debt-to-income ratio has improvedMarket rates have droppedYour budget is overstretched and you need a lower monthly paymentYou want to add or remove a co-borrowerEssentially, there are two key reasons to refinance more than once: the first is to save money, and the second is because something about your current loan is no longer working for you.Saving money with an additional refinanceIf your credit has gone up or your financial picture has otherwise improved, or rates have dropped significantly since you got your initial financing, you may well be eligible for a better rate that will save you money monthly and over the life of the loan. In that case, it’s almost always a good idea to refinance again.Replacing a loan that isn’t working for youThe other reasons to refinance more than once include adding a co-borrower (for example, if you want to help a family member build credit), removing a co-borrower (if there’s a second person on the loan and the arrangement is no longer working), and lowering your monthly payment, even if it means paying a little more over time.With costs rising and a tough economy right now, this is a common reason to look for a repeat refinance. If the choice is between not making or struggling to make payments and paying a little more interest over time to give yourself some breathing room and make it more possible to make full, on-time payments, it’s a very good idea to refinance to a lower payment. In the end, it’s better to have your car than risk losing it.When not to refinance againRefinancing more than once may be a bad idea if:You got a great deal and are locked into a low interest rateYour credit or financial picture is worse than it was when you got your initial financingYour loan is underwaterReputable lenders tell you you’re not eligibleYour loan has less than a year leftYour loan has significant pre-payment penaltiesYou need your credit in tip-top shape for another major purposeIn short, you may not want to refinance if it’ll cause your payments to go up, if you can’t get a loan from a trusted lender, if the refinance will cost you more in fees than you’ll save in monthly payments, or if you can’t take the temporary hit to your credit associated with credit checks and new lines of credit.While lenders will allow many repeat refinances, the benefits of refinancing are often reduced the more you do it.How multiple refinances will affect your creditEach time you refinance, just like with getting new financing, your credit takes a minor hit.Your credit score is determined based on several factors:Payment historyAmounts owedLength of credit historyCredit mix New creditEvery time you close an older account and open a new one, your credit is affected because your new credit is affected and, potentially, your length of credit history. Additionally, while soft credit checks used to determine loan eligibility and get quotes on your refinance don’t affect your credit, the hard credit check that happens when you actually apply for your chosen loan does show up on your credit report.That’s why experts recommend against refinancing your vehicle when you know you have another major purchase or event coming up that will require a credit check, like buying a new house.That said, these dings are temporary, and your credit score will typically recover in about a year. If you are worried about not being able to make on-time and full payments on your loan, for example, the minor temporary reduction in credit associated with refinancing is much preferable to negative events on your credit report like late or missed payments, which can stay on your credit report for seven years.FAQs about multiple refinancesStill on the fence? Here’s a quick round up of answers to some of the most commonly asked questions about refinancing a vehicle loan more than once.How many times can you refinance a car loan?You can refinance as many times as you want. Multiple refinances may or may not be beneficial depending on your unique situation, and after a certain number you may find it harder to find a lender or good deal, but there is no rule stopping you from refinancing as many times as you want.What’s the difference between refinancing and consolidating car loans?Debt consolidation is when you combine multiple loans or debts under one new unified loan. Debt consolidation is part of the typical process for getting out of debt. Depending on the debt you’re consolidating, you may be able to secure a lower rate, lower monthly payment, or even a temporary pause in payments. Debt consolidation simplifies the process of paying down outstanding debts and can help eliminate accounts with high interest rates, like credit card debt.With a consolidated loan, you’d likely get an unsecured personal loan or a loan based on your home equity.The key similarity is that when you refinance your car, you get a new loan that pays off your old loan, and then you start paying back your new lender. However, an auto loan refinance replaces just one single existing line of credit—your car loan—and instead of being a general line of credit, it’s still an auto loan. That is, a refinance typically has terms like your original car loan, with just the details changed.With an auto loan refinance, as with any auto loan, your vehicle is your collateral on the loan.Can I refinance my car loan with the same bank?Technically speaking, you can, although not all lenders will agree to it. Refinancing with the same lender usually won’t get you the best available deal for you. In essence, your existing lender may be motivated to keep you as a client, but any beneficial change they make to your loan reduces how much they make off of your loan. Other lenders, on the other hand, are more motivated to give you the best deal they can, because they don’t currently have your business.Conclusion: Refinancing A Car Loan More Than OnceNow you know all there is to know about refinancing your auto loan multiple times, and should be equipped to decide if a repeat refinance is right for you, based on your financial picture, available options, and unique needs.Ready to see your repeat refinance options?Get a free, no-commitment quote to check eligibility and see how much you could save with Auto Approve today.Get your free quote now.

Here’s the short version. If you’re stuck in an underwater car loan and want to get out of it, you’ll need to choose one (or multiple) of the following options: Keep making on-time payments and wait until you own the carMake additional payments to catch upRefinance your vehicle to a better loan situation, if possibleSell your vehicleRead on to learn about underwater loans, how they happen, how to avoid them, and take a closer look at your options if you end up in an underwater loan.All About Underwater Car Loans: The Complete GuideOk, let’s get one thing straight – if you have an underwater car loan, it doesn't actually mean that your car is under water. But, in many ways, it can feel just as helpless. And, while being in an underwater loan is less than desirable, it is probably more common than you think. But fear not! Today we are diving (pun intended) into the world of underwater loans. We’ll look at how you can get out of a negative equity situation—or even avoid the situation in the first place.In this guide, you’ll find information on:Underwater loans: what they are and how they happenSteps to avoid an underwater loanOptions to get out of an underwater loanUnderwater loan basics: what they are and how they happenBeing “underwater” simply means that you owe more than your asset is worth. Whenever you take out a loan, whether it’s on a house or on a car, you run the risk of your loan becoming underwater. While we all like to think that we are expert researchers who make good decisions, anyone can make a mistake.Here are a few of the many reasons a loan can become underwater:You put zero money downYou paid too much in the first placeYou took out a long term loanThe car you selected was out of your budgetYou had a rollover loanYou got a high interest loanYou Put Zero Money DownThis is one of the quickest ways to end up in an underwater loan. Cars lose about 10% of their value the minute you drive them off of the lot. By the end of the first year, your car will be worth about 20% less than when you bought it. So let’s do the math on that.You took out a loan for $25,000 for the cost of the car with zero money down. This means that second you drive the car off the lot, your car is worth $22,500. But your loan is still for the entire $25,000. Just like that, your loan is underwater.You Paid Too Much In The First PlaceIf you didn’t do your research, you may have paid too much for the car from the get go. If your car was actually valued at $28,000 but you took out a loan for $30,000, you were underwater in your loan from the beginning.You Took Out A Long Term LoanThe longer your loan repayment is, the more likely you are to end up underwater. If you are using an 84 or 96 month repayment, your monthly payments likely cannot keep up with the depreciation. Your Car Was Out Of Your BudgetIf you took out a loan with the lowest monthly car loan payments possible because you just HAD to have that particular car, it’s easy to end up underwater. Whether your payments are too low to keep up with depreciation or you miss payments here and there when you can’t make ends meet, the result will be ending up in an underwater loan. This can also happen by saying yes to all of those add-ons from the dealership. The upgraded sound system, the fancy integrated computer system, the all-weather mats; these all add up and add on to your monthly payments.You Had A Rollover LoanIf you owed money on your last car, the dealer may have rolled that remaining amount into your new loan. In this case, you are essentially paying for two loans at once. This can easily make your loan amount much higher than the value of your new car.You Had A High Interest LoanIf your credit score and credit history were not great, you may have only been eligible for a loan with a higher interest rate. The higher rate makes it much more difficult for your payments to keep up with depreciation.What Steps Should You Take To Avoid Getting Into An Underwater Loan?As the saying goes, an ounce of prevention is worth a pound of cure. So what steps should you take to avoid getting into an underwater loan in the first place?You can:Purchase GAP insurancePut money down up frontDo your research thoroughlyThink about a realistic repayment periodPick a car within your meansMake sure you have a good credit score before you financePurchase GAP InsuranceGuaranteed Asset Protection (GAP) insurance is one of the best ways to prevent a loan from becoming underwater. GAP insurance is designed to cover the difference between what your car is worth and what you owe. GAP will protect you from depreciation (as well as cover you when collision and comprehensive coverage do not). Put Money Down Up FrontExperts recommend always putting a down payment on your car. Putting 20% down will give you a good head start on the depreciation that will immediately start accumulating.Research ThoroughlyMake sure you know what the car you want is worth before you even step foot in the dealership. Use websites like Kelley Blue Book and Edmunds to get an accurate idea of what you should be paying for your new ride. Think About A Realistic Repayment PeriodThe longer your repayment period is, the more money you will end up paying in the long run. After all, you are paying interest on that entire period. On top of that, the older your car is, the faster depreciation will creep up on you. Keeping a shorter repayment period will ensure that you save money in interest and stay ahead of depreciation.Pick A Car Within Your MeansCar shopping can be so exciting and it’s easy to ignore the budget that you know deep down you should follow. But you need to make sure that the car you pick has payments that are manageable. Sit down with your budget and determine what you can comfortably afford, keeping in mind that unforeseen emergencies pop up and you never want to end up stretched too thin financially.Keep this in mind when you are picking out your add-ons and upgrades as well – some of those additional items can easily add thousands on to your total loan.Make Sure You Have A Good Credit Score Before You FinanceYour credit score is the main contributor to the interest rate you will be offered. The higher your credit score is, the lower your interest rate will be. Get a copy of your credit report beforehand and look for any areas of concern. Was anything misreported? If there is an issue, report it immediately to the credit bureau. How Do You Get Out Of An Underwater Car Loan?But what if it’s too late and your car loan is already underwater? Don’t fret. As long as you are not in a rush to get rid of your car, there are a few steps you can take to chip away at the difference between what the car is worth and what you owe.Continue making your paymentsMake additional paymentsRefinance your loanSell your carContinue Making Your PaymentsKeep making your scheduled regular payments. Once you own your car and it is your asset, you can decide what you would like to do, either sell it, keep it, or trade it in. But at that point you will have equity in the vehicle.Make Additional PaymentsIf you are able to make extra payments on your loan, it will help bridge the gap between what you owe and what the car is worth. You can get ahead of the depreciation by being consistent with extra payments. You can even look into paying the loan off entirely if you have the capital to do so. But be sure to check your loan agreement to see if there is an extra fee if you pay off your loan early.Refinance Your LoanThis may not be possible depending on your situation, but a car loan refinance might be worth a shot. Traditional banks typically do not refinance underwater loans, but a local bank or credit union might consider it. If you are able to refinance your car loan, you might be able to improve your situation and pay off the car faster.Sell Your CarIf you are desperate to get rid of your car, you can always sell it privately. Selling your car privately will get you more money than if you were to go through a dealer. Do some research on Kelley Blue Book to find out what your car is worth, and try to honestly assess what condition it is in. Give your car a good detailing, fix any maintenance issues, and advertise locally as well as online. You might be able to sell your car and pay off most of the loan from that sale. This has other drawbacks of course, the main issue being that you will no longer have a car. But this will depend greatly on your personal situation and how bad you want to be free of your car.And That’s Everything You Need To Know About Underwater LoansThe best way to get out of an underwater loan is to never get into one. Be sure to do your research and consider purchasing GAP insurance when you take out your initial loan.If your loan isn’t underwater but you are having trouble keeping up with payments, it might be time to refinance with Auto Approve. We work with our network of 50+ trusted lenders to find you the lowest interest rates available to you and can change your repayment plan to make your payments more manageable.If you’re ready to refinance your car loan, get your free, no-commitment quote today!

Here’s what you need to know.There are a few common ways today to buy a car. You can buy from a dealership in person or from a reputable online seller, or if you’re interested in a used vehicle, you can also purchase a used car directly from the owner.There are pros and cons to each option. Which you choose will depend on your budget, vehicle needs, and personal preferences and comfort level.If you choose to buy from a dealership, you should go in prepared. Make sure you know the current market and what you’re looking for; get pre-approved ahead; and don’t be afraid to shop around, walk away, or negotiate on rate as well as terms.Read on to take a closer look at whether you should buy your next vehicle from a dealership and why.How to Decide If You Should Buy A Car From A Dealership: Your GuideCar dealerships used to be the only name in the game if you wanted a new car, but nowadays you have another option: buying a car online. So how can you decide whether or not buying a car from a dealership is the right move for you?What Are The Advantages Of Buying A Car At A Dealership?Buying a car from a dealership has some significant advantages over buying online. The human element is one of the top advantages, as you can actually talk to a salesperson and let them guide you through your options. In short:You can get adviceYou can negotiateYou may be able to get a manufacturer incentiveYou Can Get AdviceCar dealerships have salespeople who can help you immensely if you are unsure on the exact vehicle you want. Even if you know the make and model you want, there are endless options when it comes to upgrades and trim levels. Salespeople can help explain your options and pick out the exact car that will work for you.You Can NegotiateDealerships also provide a way for you to negotiate. When you buy a car online, you are unable to negotiate the price. Everything is cut and dry online, whereas shopping at a dealership will allow you to cut down the sticker price or possibly have some fees waived. You May Get A Manufacturer IncentiveBuying at a dealership means that you may be eligible for manufacturer incentives. These incentives can vary greatly and may include 0% financing, a cash rebate, or equipment upgrade. What Are The Disadvantages Of Buying A Car At A Dealership?There are some disadvantages to buying a car at a dealership as well. Your options may be more limited and you may get swayed into options that you do not want or need. So for some people, buying online may be a more comfortable option.In short:It takes more timeYou get fewer optionsDealerships can involve sales pressure and upsellingIt Takes More TimeIt’s hard to beat the convenience of shopping for a new car from the comfort of your home. Buying a car at a dealership will take much more time and may require multiple trips to multiple dealerships to get the car that you truly want. The negotiation process will take more time as well, as you cannot simply click a button and wait for your car to arrive.You May Have Fewer OptionsWhen you buy online, everything is at your fingertips. Whatever make, model, color, and options that you want are available to you. This may not be true for your local dealership, which may not even carry the make and model car that you are interested in. You May Get Persuaded Into Something You Don’t NeedSalespeople earn commissions, so it’s in their best interest to increase the amount you are paying as much as possible. And this may mean that you will get talked into something that you don’t really want or need. It’s much easier to simply go online and select exactly what you want. You may also find that it is more difficult to walk away, even if you know that the car is not right for you.What Are The Other Options for Buying a Car?You can also purchase a vehicle:OnlinePre-owned from the previous ownerLet’s take a closer look at the pros and cons of these options.OnlinePurchasing a vehicle online from a trusted vendor like Kelley Blue Book, Edmunds, or Carvana is an increasingly popular way to shop for cars. If you know the model of car you want and your budget, these sites can offer you selection and convenience a dealership often can’t, and shopping around online can help you find a better deal on a vehicle than you might get at a local dealership, depending on a variety of factors. You also avoid the pressure and upselling that can come with dealership sales, which many online car buyers found to be a plus.One of the downsides of purchasing online is that, of course, you can’t test drive the vehicle in the traditional way, though most reputable online car sales will include an at home test drive period or money back guarantee. However, in a PC Magazine survey, the top complaints among those who purchased cars online were about the return period or process.It may also be harder to negotiate a good rate when purchasing online, since you’re not negotiating directly with anyone. Comparing prices and rates before making a decision is always a good idea, and if you feel you didn’t get the rate deserved, you can always refinance your vehicle to a lower rate.From a previous ownerBuying a used car directly from its current owner is another option for buying a car. This can be a great option for saving money, but does require more legwork than the other options. You’ll need to get the vehicle inspected, check its market value, run a VIN report, and so on to make sure it’s safe to drive and being offered for a decent price. There’s also some paperwork you’ll need to do that a dealership or online seller would likely handle, like filing a bill of sale and getting the title certificate signed over to you.One of the other limitations of this option is that it can be hard to find direct sellers and the selection will typically be quite limited. However, with this option, you may be able to avoid financing altogether or find a good price on a solid older vehicle if your budget is tight.How Can I Prepare For Buying A Car At A Dealership?If you decide that a dealership is your best option for purchasing a car, there are a number of steps you can take to make sure that you get the best deal (and best vehicle) possible for you:Do your researchGet pre-approvedShop aroundTake time to understand your financing optionsBe prepared to walk awayDo Your ResearchDo not make the mistake of going into a dealership unprepared. You should have a loose idea of what you are looking for (at the very least, you should have a list of what you are looking for in a new car) and you should have a loose idea of the price. The more you know about what you want ahead of time, the more you can focus on the specifics of what’s available to you. This will help you spot if you are being taken advantage of or if a dealer price is fair.  You should also know how much you can afford to pay every month in car payments. Your total cost for transportation (car payments, insurance, maintenance, gas, parking, etc.) should never be more than 20% of your total monthly income. Get Pre-ApprovedGetting pre-approved before you set foot in a dealership will help you in a few different ways. First off, it will show the salesperson that you are serious about buying a car and are prepared to do so. It will also mean that if the dealership wants you to finance with them they will need to negotiate against your pre-approved financing offer.Shop AroundDo not go to just one car dealership when you are looking to buy a new car. Going to a few different dealerships will give you some more negotiating power and let you compare offers. Break Down Your Financing Into ComponentsWhen dealerships sell you a car, they tend to focus on your monthly financing payments. They want you to focus on your monthly payments rather than showing you the overall picture. But this can get confusing. Monthly payments are largely determined by your repayment period. Any car is affordable if you are given a long enough time to pay it off. The longer that you are repaying your loan however, the more money you will pay over the life of it.  Instead, focus on the out the door price first—the total cost of the car. Try to negotiate your sticker price down in a separate transaction before moving on to how exactly you will pay for the car. You should also ask about the rate you’re being offered and compare it to what you were pre-approved for. You can negotiate on your rate just as you can the car price. This can help you dodge some dealership markups.Putting a solid down payment down will help keep your payments affordable and help ensure your loan won’t become underwater. Be Prepared To Walk AwayDealerships can be intimidating and there may be a lot of pressure to sign on the dotted line, but you should only sign when you are 100% happy with all of the terms. Make sure that you have the exact car that you want and that the financing terms are fair. Dealers want to pressure you into making a sale because they know that once you leave the dealership, their odds of making the sale have decreased significantly. But do not let their pressure sway you into a car and a deal that doesn’t fit with what you want.Now You Can Decide If You Should Buy From A Car Dealership Or Not There are pros and cons to buying a vehicle at a dealership, but if you decide to purchase a car that way, be sure to do your research and stand your ground. And if you got a bad deal on your dealership financing, refinancing is the best way to secure the lower rate and lower monthly payment you deserve. Get started with Auto Approve today to see how much you could be saving!GET A QUOTE IN 60 SECONDS

Here are some practical tips and hacks for keeping your car clean with kids.Here’s the short answerGood news! Your family can keep the car clean – even when life feels messy. It comes down to three basic principles:Get the right gearMake cleaning funGo with the flowSo read on for some easy tricks that will keep your car clean and tidy without too much effort.   The Ultimate Guide To Keeping Your Family Car Clean And Spill FreeIn this article, we’ll break down the easiest ways to childproof your car, SUV or crossover even as you juggle car snacks, blowouts, and sticky fingers. This guide will tell you everything you need to know about: The secret cleanup gear moms and dads swear byGames and activities to get everyone involved in cleaningProactive ways to keep spills out of the car in the first placeHow to keep your mind fresh – even when the car’s a disaster1. Keep a vacuum in your carYou likely already know the basics: keep some wet wipes on hand for sticky fingers, dish soap and a spray bottle of water for spills, and shop towels for wiping up mess. But here’s a mystery no one can answer: where all the cereal keeps coming from. Kids in cars have a way of getting Cheerios in between every seat cushion. Even on days you didn’t give them a single Cheerio! What is the source of all these Cheerios, and why do they keep testing us? We can’t explain the powerful magic between kids and the cereal gods, any more than we can explain why some kids absolutely love shows about wheels. But  we can recommend a handheld, battery powered vacuum to zap away messes fast (the consumer reviews site Wirecutter has reviewed several of their favorites). If you eliminate them one by one, those sneaky Os will never have the chance to organize their powerful forces against you.2. Up your bag gameYou’re going to want a few different bags in your vehicle:Vomit bags Poop bagsTrash bagsTrue, a jack-of-all trades grocery bag will probably do in a pinch. But if you’re looking for an upgrade, there are all kinds of snazzy options there to keep “Yikes, I think this is leaking” moments at bay.Hospital-grade vomit bagsIt’s not easy on the guts being in the back seat of a vehicle, and it only gets worse if you’re reading, playing with a personal device, or in a rear-facing seat. So it’s no surprise many kids get tummy turmoil on the ride. Ditch the grocery store plastic bags for something that can stand the test of tot-vomit. Search for “emesis bags” (Latin for “this bag holds puke”) from major online retailers.  Bonus: if mama’s got another bun cooking in the oven, she can also use these bags for pregnancy nausea.Poop bags for babyYour little one has a blowout diaper situation? Hooray, they’re not constipated! If you’re someone who likes to change your baby’s bottom in the trunk of your car, you can keep things tidy with some colorful doggie bags to contain their dirty diaper and wipes on the way to the nearest trash can. Another great poop-related bag to look into is a reusable ‘wet bag.’ You can use this leakproof vessel to keep your favorite baby outfit from stinking up the car until you get home to launder it.Good Old Garbage bagsYou definitely want a bag in the car for trash to compile all the fast-food containers and other detritus that you collect in a day. A simple garbage bag can work – but why not consider a car trash can? “Carbage cans” are soft, reusable containers that often include a tight top to prevent coffee cups from leaking, and side pockets for keeping things organized.3. Enlist the whole family in tidying tasksMake it a game: everyone takes something out of the car with them every time they come home. Maybe whoever brings up the biggest or weirdest thing in the car wins that round? Not only will you be utilizing every tiny hand in keeping the car clean, you’ll also be teaching good habits that last a lifetime – and instilling a love of cleanliness in your kiddo. And you’ll be surprised how much impact one piece at a time can have on your car. After all, just like the Buddha says, “Drop by drop is the water pot filled.”Save money for the moments that matterRefinancing your auto loan with AutoApprove could save your hundreds of dollars a month. Find out if you qualify with a few clicks and zero commitment.Get a free quote to see how much you could save.4. Make cleaning a partyYou’ve already got the kids tidying the car one item at a time? Great! Now celebrate with a trip to the car wash. The self-serve car wash bay can be a great summertime spot to throw some suds around and show your little ones the car care basics. And they’re the perfect size to help: short people don’t have to bend down as far to wipe the wheels and bottom plates. If your little one is still too small to help wash a car, you can also take them to the automatic car wash, and let them be mesmerized by the colorful light show.5. Keep the mess out of the carIt’s not realistic to tell you not to feed or change your kiddo in the car. But if you have the option, why not lean into making mealtime an event with sitting down for? Swap the drive thru for sitting in a booth, and take the time to make some memories you wouldn’t have if everyone was strapped into their seats. This way, all french fries that fall out of little hands go on someone else’s floor, instead of your car’s.6. Just don’t worry about itThese are all ideas for how to prevent messes, so they don’t bother you. But there’s a shortcut: just don’t let the mess bother you in the first place. Making sure everyone gets home safely is way more important than another french fry on the floor.  The great French writer Michel de Montaigne allegedly wrote, "I do not care so much what I am to others as I care what I am to myself." Who cares what Nancy at soccer practice thinks about the state of your car? When you are on your deathbed, you’ll be thinking about the memories you made with your loved ones, not the cleanliness of your vehicle. (Hopefully. —ed.)And that is the ultimate guide to keeping your family car clean and spill-freeA family ride is just more fun when your car doesn’t smell like farts or sour milk. It’s also more fun when you’re not overpaying for your vehicle. Spend more money on your kiddos and less on your auto loan.If you got dealership financing on your auto loan, you probably qualify for a lower rate. A free quote can tell you how much you could save by refinancing today.Get your quote now. 

The short answer: You can refinance your car loan anytime, as long as you meet lender requirements. There’s no mandatory waiting period. That means the best time to refinance is when you’re eligible to improve your loan terms and pay less. When this is the case for you will depend on factors like your existing loan details, your finances, and broader market changes. For most borrowers, that means any time from about 6-12 months after taking out an initial loan until around a year before the end of the loan.When to Refinance Your Car Loan in 2026–2027: Your Complete GuideIn this guide, you’ll discover everything you need to know to determine if and when you should refinance your auto loan.We’ll look at:Essentials of when to refinance your car loanFactors to help you decide whether now is a good time to refinance your car loanFrequently asked questions about refinancing and timing a refinanceRefinancing Your Car Loan: The EssentialsRead on for the answers to the following frequently asked questions about refinancing an auto loan:What exactly is refinancing?Why would you want to refinance your car?When can you refinance your car loan?When is the right time to refinance a car loan? What Exactly Is Refinancing?Refinancing is replacing your existing auto loan with a new loan to get a better rate or better terms, typically by changing lenders.Here’s how it works:Search: Find a better deal for your car loanSwitch: Your new lender pays off your original loanStart: You start paying your new lender based on the new termsWhy Would You Want To Refinance Your Car?Refinancing your car can help you get a better interest rate, pay less monthly, or both.An auto loan refinance can help you:Get a lower interest ratePay less monthlyPay off the loan soonerAdd or remove a co-borrowerToo many people assume that their auto loan is something they are locked into from the day they finance a vehicle until the end of the loan. But not so! Many people are overpaying on their auto loans, paying higher rates than they’re eligible for, or otherwise stuck with terms that may no longer make sense for their lives. That’s where car refinancing can come to the rescue.When Can You Refinance Your Car Loan?When you want to! Contrary to popular belief, you are not obligated to wait any amount of time before refinancing your car loan.You only need to:Meet any eligibility requirements for your new loan.Be mindful of any terms on your old loan that might affect the refinance in order to refinance.Read the small print to make sure you’re getting a better deal than the one you already have! And one state-specific consideration: you may need your new registration before refinancing, which may slow down the process by 4 to 6 weeks.When Is The Right Time To Refinance A Car Loan? It’s never a bad time to consider a car loan refinance, because refinancing can save most people money. When is right for you, however, all depends on your unique situation. Here are a few factors to consider to decide whether now is a good time to refinance your particular loan: How long you’ve had your current loanWhere you got your loanYour current rateThe rates available based on the current economic environmentAny personal financial changes, like your credit score, debt-to-income ratio, and budgetReady to refinance?When you refinance with Auto Approve, a dedicated agent will help you understand what’s available to you, all of the loan terms and eligibility requirements, and identify the best deal for you and your unique situation. And, once you’ve found the best deal for you, we handle the paperwork—even the DMV!Get your free quote now.Factors To Help Decide Whether Now Is A Good Time To Refinance Your Car LoanWhat you need to consider, in short, is:Timing of your loanSource of your loanMarket ratesYour personal financesRead on to understand these factors in detail.TimeHow long you’ve had your current loan will affect how much you can save. For example: If you’ve just gotten a new loan, your credit score might appear lower because of the recent credit check.Too early or too late in the life of the loan, and you may not be able to find a deal that works for you. That’s because, depending on the loan, there may be fees associated with paying your original off early. Plus, the new lender will want enough left on your loan to make a lower rate make sense for them. Make sure to read your loan paperwork carefully.That said, if you’re unhappy with your loan, it’s always worth checking.SourceWhere you got your current car loan matters, because different lenders offer different deals. For example: You might have gotten a 7% rate at a dealership, but been eligible for 5%. Dealership financing, in particular, usually includes markups over and above the rate you’re eligible for. If you got your vehicle financing through a dealership, you’ll want to look into refinancing as soon as possible.Rate EnvironmentInterest rates aren’t just about you, they fluctuate with the economy. For example: The federal interest rate in July 2022, was 2.5%. In July of 2023 and 2024, it was 5.5%. In July 2025, it was 4.5%. These might sound like small changes, but on a big loan, they can add up to hundreds or thousands of dollars.If you got your current loan when interest rates were historically low a few years ago, your current rate may be hard to beat. However, rates have also been higher than they are now in the past few years – it all depends on timing.That said, if your financial picture has changed, or if you want to refinance for other reasons – like to add or remove a co-borrower, or to lower your monthly payment because of budget constraints – it’s certainly still worth it to get a quote.Personal FinancesYour personal finances, like your credit score, income, and debts, affect the rates you’re eligible for.For example: If your credit score was 650 when you bought your car 2 years ago, but is now 725, you’ve likely entered a new credit bracket and will be eligible for better rates.Essentially, if you are in a better place financially now than you were when you got your loan, even if nothing else on this list has changed, you are likely eligible for a more favorable loan.Should You Refinance Your Car Loan?In this section, we’ll answer the following common questions from those that want to refinance but need more information:Can refinancing benefit me?How can I improve my credit score?When should I try to refinance my car loan?What do I need for refinancing my car?What are refinancing mistakes to avoid?Can Refinancing Benefit Me?First things first, check your eligibility! You may be eligible for a lower interest rate if:Rates have gone down since you financed your vehicleYour credit score or income has gone upYou didn’t get a good deal in the first placeMost auto loans are amortizing loans, which means you pay a fixed monthly payment with interest that is already built into that payment. Here Are The Possible Benefits:Lower interestLower interest would mean a lower monthly payment, if the terms of the length of the loan stay the same. Pay less monthlySome people instead choose to refinance to change the length of their loan, so they pay less monthly but over a longer period of time.Finish paying off the loanSome might choose to pay more monthly in order to have their loan paid off sooner.Change the loanRefinancing also allows you to add or drop a co-borrower from the loan.Stretch your budgetLastly, refinancing can give you up to three month’s break in payments while the loans change over.When you use Auto Approve to refinance, an Auto Approve representative will help you understand your options and make sure you get the right deal for your unique situation – then do the paperwork for you.Get your free, no-commitment quote today to see how much you could save.How Can I Improve My Credit Score?Make timely payments.Keep your credit utilization low.Avoid unnecessary credit inquiries.Maintain a healthy mix of credit types. About 10-12 months is enough time to see a change in your credit score, which you can use as leverage to negotiate a better loan rate. Learn more about credit scores and refinancing here.When Should I Try To Refinance My Car Loan?If you think it might be beneficial to you, get a quote now. Checking eligibility and getting a quote on your potential savings is fast, free, and doesn’t require a credit check. If you like what you see, you can proceed, and if the timing doesn’t feel right, you can simply wait until later.  Reasons to start your refinance right now:The refinance process is simpleThere is no risk for you to find out your available optionsWith the right refinance, you can start saving money immediatelyIn general, the two main reasons why people refinance their vehicles are to lower their monthly payment or lower their interest rate.So if you’re still thinking about timing, consider:Whether paying less monthly or overall could help you outWhether your circumstances have changedWhether vehicle values or interest rates have changedWhat Do I Need For Refinancing My Car?For most lenders, you will need to collect:Information about the current loan and lender, including your account numberYour current total loan balanceVehicle information including the make, model, year, and VIN of your carRead more about the requirements to refinance a car here.What Are Refinancing Mistakes To Avoid?Here are some of the most common pitfalls to avoid when refinancing an auto loan:Prepayment penalties do exist, which means you may have to pay extra if you pay off a loan before a term is up. Look up the details of your loan and inquire what this fee is going to be.Waiting too long to refinance. The longer you wait in the life of the loan, the less sense it makes to refinance. Missing payments. Don’t miss any payments! Even if you think that the refinancing process has paused your payments, triple-check before you halt payment for the previous loan. Refinancing A Car In Fall 2026: The Short Versiontl;dr: Is now a good time for refinancing your vehicle? Here’s what you need to know:Rates and auto values have fluctuated dramatically over the last decade.If your life situation has changed, you may be able to save money by refinancing.Many dealerships mark up prices so you end up paying a higher rate than you were eligible for even at the time of purchase.Because of these factors, there’s a good chance you can lower your monthly car payment right now.So, Is Now A Good Time To Refinance A Vehicle?In terms of timing, it’s always a good time to check to make sure you’re not paying more than you need to be. Whether or not now turns out to be a good time to refinance for you personally, now is definitely a good time to get a free quote. At Auto Approve, our refinance experts can help you get a sense of whether you’re overpaying and what rates you might be eligible for in just a few minutes, with no commitment and no hard credit check required.GET A FREE QUOTE IN 60 SECONDS

Here’s the short version. With inflation hitting gas and car costs, expenses are high these days and budgets are strained. If you want to reduce how much you’re paying monthly related to your car, you could: Refinance your auto loan Lower your car insurance Plan ahead to use less gas Learn how to do routine car maintenance Carpool more often Downsize to a less expensive vehicle Pay attention to gas prices and buy strategically Skip the car wash and learn to detail your car yourself Read on for a more detailed look at each of these options and how to put these tips to work to start saving money today.8 Ways You Can Cut Your Car Expenses TodayFrom car payments to insurance to gas to maintenance, it can feel like the bills never stop. But there are a few simple actions you can take to cut costs here and there and make owning a car less expensive.1. Refinance Your Auto LoanRefinancing your car loan is one of the easiest and most effective ways to save money on your car. When you refinance your loan, you replace your existing loan with a new car loan, ideally one that has better terms and conditions. Refinancing to a lower car loan APR can save you hundreds, if not thousands, every year. There are several reasons you may qualify for a lower car loan APR:You have paid off some debt or increased your income, improving your debt-to-income ratioYour credit score has increased since you got your initial financingThe market rates have decreased since you financed your carYou got your financing through a dealership and are paying a marked up rate Refinancing your car loan also allows you to change your repayment period. This means that you can pay your principal off over a longer period of time. While you will end up paying more over the life of your loan, you can cut your monthly payments drastically, which may be a good trade off for you if money’s tight.2. Lower Your Car InsuranceYou are probably eligible for a lower insurance premium. In fact, you should compare insurance rates every year when it is time for renewal. There are a lot of insurance companies with competitive rates that offer discounts for different things. Researching some different companies can help you determine where you might find the best rates. There’s no harm in getting several quotes to see if it's worth the switch.  You can also review your current policy to see if you need all of the coverage that you have. Minimum insurance coverage requirements vary from state to state, so you will need to check your state’s laws to determine what you need. However, reducing unnecessary coverage is a great way to save money with very little hassle. You can also ask your insurance company if there are other steps you can take to reduce your premium, such as taking a defensive driving class or participating in a usage-based insurance program. These programs monitor your actual driving and can offer discounts based on how safe of a driver you are.3. Bundle Your Errands TogetherA great way to cut down on gas costs is to avoid driving as much as possible. One way to do this is to lump all of your errands together when you can. Instead of running out for groceries one day, to the dry cleaners the next day, and to the mall on the third day, simply devote one day to running around. You will save yourself many miles in backtracking, which will cut down on gas as well as wear and tear. And it’s better for the environment, as an added bonus!4. Learn To Do Routine Maintenance YourselfPutting air in your tires, changing your oil, and swapping out spark plugs and headlights are easy maintenance tasks that can save you a good deal of money if you learn how to DIY them. Watching YouTube or having a friend show your ropes can make these tasks incredibly easy, and maybe even enjoyable. If you do not feel comfortable or safe doing them, at least shop around for a mechanic that is reasonable. Avoid going to the dealership for routine maintenance at all costs, unless the cost is covered by your warranty. Dealerships are notoriously expensive for things like oil changes, so a neighborhood mechanic is typically a much better bet.5. Carpool With A FriendCarpooling with a friend or loved one is a great way for both of you to cut down on costs. If you are both going to work or to the gym, why not just go together? Splitting the cost of travel will make it more affordable, plus you can get some quality time together.6. Downsize Your CarTimes and circumstances change our lives, and sometimes a car that was once practical is no longer a good option. If you have a car that is too expensive, too big, or too expensive to repair, you can always downsize to a more economical car. If you want to make the switch quickly, sites like Carvana can help you trade in with very little hassle. If you have the time to sell your car privately, you will most likely make a bit more money, but it will take more legwork on your end.7. Comparison Shop For GasGone are the days when you needed to settle for the gas station down the street. Not only do most towns have a variety of gas stations to choose from, but there are many apps that will do the research of comparing gas prices for you. After all, it’s pretty unproductive to drive around wasting gas to compare prices. Apps like Waze, GasBuddy, and Gas Gurus can all help you find the best deal in town. 8. Wash Your Car By HandCar washes are convenient, but the costs can add up quickly. Instead, get the hose and bucket out and wash your car by hand. Handwashing is also much better for your car's paint job, as the automatic car washes use more abrasive chemicals and mechanical brushes which can cause the paint to deteriorate. While you are at it, be sure to wax your car every few months to protect the paint and prevent rusting. The cost of getting your car repainted in the future will far outweigh the investment of car wax and some elbow grease.Those Are A Few Ways You Can Cut Your Car Costs. Owning a car is expensive. And while you can’t control the price of gas or the cost of a new car, there are ways to keep your costs under control. Changing driving habits and being proactive when it comes to your insurance policy and car loan can result in some big savings.  If refinancing your car loan sounds like a good option for you, Auto Approve is here to help! We specialize in car loan refinancing and can help you through the process. From determining if you are eligible to signing on the dotted line, we will be by your side the whole time to help you save money today. So don’t wait any longer, get your free, no-commitment quote in 60 seconds!

Here’s the short version. Keep the car clean. Pay attention to changes.  Give your vehicle a day off sometimes.  Drive smoothly and carefully. Daily driving can leave your car needing a little TLC, from the coffee stains and hash browns on your leather interior to the aging tire treads and wear on your auto parts. But, with a few low-effort tricks, you can keep your commute and your ride fresh.So read on, dear commuter, for cleanliness tips, mileage hacks and easy ways to build car care into your daily routine. Commuting Tips To Keep Your Car In Great ConditionIn this guide, you’ll learn how your daily commute can become a time to keep your car as healthy as it can be.This article has everything you need to know about how to:Keep messes under controlNotice changes to your vehicleMake alternative transportation part of your planAdd regular car care into your daily routineDrive with your car’s long life in mind1. Don’t let your commute get messy Ideally, we’d tell you not to eat in the car at all. But if you’re commuting every day, those 40 minutes in the car may be your only time for breakfast or to snack after a hard workday. Here are a few tips to limit mealtime mess:Throw your coffee cups and food wrappers away at your destination, so they don’t contribute to smells.Try to choose foods that are easier to eat without spreading mess—think protein bars over sticky donuts. You can also put together a clean car kit for the front seat: keep a small garbage bag open in the car to gather trash and stow away messes, and store some wet wipes, shop towels, napkins, and a spray bottle of soapy water to keep any spills under control. 2. Get to know your carYou’re driving to work in this car, whether you pay attention to it or not. Why not take a minute to mindfully and intentionally notice what’s happening in the vehicle and around you?Make these three things a habit:Check your surroundingsTake a moment to check inNotice your vehicle Check your surroundingsFamiliarizing yourself with your car can start before you even turn on the ignition. Before you hit the old dusty trail to and from work, take a quick 360-degree look at your car and walk around the vehicle to check it out from all sides. Look for:Unexpected damage Leaking fluidObstructionsUnexpected damage on the vehicleThis could be a sign of a collision into your car, which might need maintenance.Fluid leaking from the undercarriageOil, coolant, or other liquids underneath your car might signal of a problem.Obstructions in your pathBy looking at the parked car from all sides, you can make sure nothing new is in the way that will impede your safe exit.Take a moment to check inNext, take 30 seconds to sit in silence after starting the car and give your engine a moment to warm up. This can also be your moment to get mentally ready for the day.Notice your vehicleOnce you hit the road, really become one with your ride. Take time to make note of what it sounds like when you accelerate, the level of stiffness in the steering wheel, the responsiveness of the brake. If you make this a habit, when something about the car is off, you’ll know, and be able to explain what’s changed when you see a mechanic.3. Plan to take alternative transportation sometimesThere’s a balance here. A car needs to be driven at least once a week to stay healthy, so you don’t want to leave your vehicle sitting unused for too long. But if you use it a lot after work or on weekends, making public transit part of your routine can keep your odometer low, extending the life of your warranty. So why not give your car a break?Look up bus, train, or streetcar schedules in your city and spend your commute looking out the window, reading a book, or catching up on the family group chat. If you don’t live somewhere with good public transportation options, you can also try riding your bicycle to work or carpooling with a friend or co-worker who has a similar route. Even switching up your commute just once a week can save some money on fuel, and that’s nothing to sneeze at.Take care of your wallet, tooIf you got dealership financing, you probably qualify for a lower rate on your auto loan. You could save hundreds each month by refinancing with Auto Approve.Get a free quote to see how much you could save.4. Make the gas station part of your routine (and not just for gas)Running on empty isn’t good for your car, so making a regular fuel stop part of your routine just makes sense. But there’s more! Checking your oil, washing your windows, and popping a little air in the tires when needed—all these things are easy to do at your local gas station. These habits can help your car drive more smoothly and keep you safe on the road. And the deals on coffee are usually unmatched. So why not make giving your car a bit of attention a regular part of your work week? Don’t forget to:Use your car’s recommended gas type. If your vehicle model recommends or requires premium instead of regular, the cost might be a bother but listening to the owner’s manual can extend the life of your car.Refill your windshield wiper fluid. There’s nothing worse than being caught with a dirty windshield on the highway, unable to do anything about it. Say hi to the gas station attendant. Being friendly improves the day of others around you, and if you work with people, it’s good practice for the next few hours. If you’re at a gas station with a car wash, all the better. Washing and waxing your car once a month or more can keep body work at bay by keeping your paint’s coating healthy. Also, it looks professional to come into work with a clean car—like you’re someone who cares about the details, and has their life in order. (If you don’t, that’s fine, but your car doesn’t have to give it away!)5. Drive safely, alwaysTo keep your car in peak condition, avoid: Sudden starts and stopsAggressive corneringExcessive idling Sudden starts and stopsSmooth acceleration and breaking will mean less wear on the transmission and brake pads for your car.Aggressive corneringThis can add stress on your suspension and tires. Take turns smoothly instead.Excessive idling when you’re waiting for other passengersLeaving the car on won’t change how long they take to get ready, but it will strain your engine and waste your gas.In general, drive prudently if you want to extend your car’s life.Sure, it can feel like everyone else on the road during rush hour is out of their mind. Anyone driving faster than you is a maniac and anyone slower has to get with the program. And after another tough day at the dream factory, it can be tempting to throw caution to the wind and get out your aggression driving like you’re in Grand Theft Auto.But you’ve got to save it for when you’re at home on your gaming console—if not for the safety of yourself and others on the road, then for the sake of your car. Trying to speed during rush hour traffic or perform risky maneuvers to get in front of a couple other people is just asking for a fender bender. Not great for your car! At best, aggressive stops and starts will result in more wear and tear on your vehicle, and you still won’t get home much faster than if you just took a breath and turned on a podcast. Chill.And Those Are 5 Commuting Tips To Keep Your Car in Great ConditionA great car is something to take care of. Avoid daily wear and tear with these tips and keep your car commuting with you for as long as you can.And don’t forget to take care of the financial side of your vehicle ownership too.Put more money in your pocket by refinancing your auto loan.With just a few clicks and no commitment, you can get a free quote to find out how much you could save.Get your quote now.

Here’s the short version. Never leave a child alone in a car. Minimize your blind spots. Stay up-to-date on safety models.  Keep your child the right temperature.  Don’t let kids get entangled in their seatbelts.  Teach children how to get out in an emergency.  Cars can be a dangerous place for children, but with safety gear, up-to-date vehicle models, and a watchful eye, you can minimize the risk to your most precious cargo.Read on to discover some handy tips and tricks to help keep little ones safe until you reach your destination. Here’s How To Make Your Car Safer For KidsIn this guide, you’ll learn how to keep kids safe inside your car—and how to protect any kids around or outside your vehicle.1. Buy a sensor or alarm system for the back seat (or just leave your shoe)Forgetting a child in the back of a car is dangerous, and it usually happens by accident. It’s more likely when someone changes up their routine and forgets a child is with them, or the child falls asleep in the back seat and doesn’t make a peep on arrival. The good news is, there are plenty of new solutions and gear to prevent this sort of accident! Some car seats have the option of a sensor and Bluetooth-connected app to tell you when your baby has been sitting too long, the car is too hot or too cold, or the seat is not buckled properly. New cars are also more likely to have rear occupant alerts. Most remind the driver to open the back door at the end of the ride if they opened it when they started their trip. Some also have ultrasonic technology that senses movement in the back seat and can trigger an alarm. Check if your car has any of these features. There are also after-market sound systems for your car that purport to make it near impossible to walk away from small passengers, setting off the horn if the driver forgets to open the back door or push a button in the back seat. However, systems that need to be professionally installed by an auto mechanic do create an additional expense, and after-market equipment may impact your warranty. Looking for a free, low-tech version of these solutions? Some parents who drive swear by the shoe trick: leave your left shoe in the back seat next to the child. Then when you arrive at your destination, you won’t be able to get far without remembering why you’re missing a shoe. (Not recommended if you drive stick!)2. Be aware of your surroundingsRoad traffic injuries, according to UNICEF, are the leading cause of death in children and teens 5-19 around the world. Children are smaller than adults and harder to see. Kids are also more likely to be impulsive, chasing after balls, toys and other objects in the road. It’s your job to keep your eye out for active play. Turn around before you back out and check your blind spots. The right gear might help. Blindspot mirrors, a backup camera, or a backup alarm when reversing your car can all give you and your neighbors more information when you drive. Of course, any tool can fail, so it’s still best to walk around your car and look behind you before you put your vehicle in reverse.3. Consider a newer vehicle modelCars keep getting exciting new tech and model updates, and safety standards constantly change. In 2024, the US Department of Transportation announced a major overhaul in how the National Highway Traffic Safety Administration tracks vehicles’ safety, starting with 2026 models. Along with five-star ratings for crash tests, the agency now notes whether vehicles have recommended safety technologies like automatic emergency braking, blind spot warning, and warnings if you veer from your lane. If you’re on the hunt for a new vehicle, you may want to use these safety guidelines to find a safer vehicle option.Saving up for a safer ride to protect your precious cargo?Refinance to pay less on your current auto loan by refinancing with Auto Approve so you can save more for added tech or a downpayment on an upgraded vehicle. Millions qualify for a lower rate.Get a free quote to see how much you could save.4. Don’t let a child get too hot or too coldWhether you’re on a family road trip or just doing the school pickup run, maintaining a safe temperature is key. Use the HVAC system in the car to keep it comfy. Also, keep a safety kit in your car with everything you need to handle road emergencies, including water for hot weather and blankets if the car breaks down on a cold day. In cold months, it’s important to prevent hypothermia or frostbite. But if your little one is still in a car seat, too much bulk can make car seats less effective in a crash. Choose lightweight, warm layers like merino wool and fleece that still let the safety harness fit snugly on the body. Then after buckling in, put a blanket on top, or put your little one’s coat on backwards over the fitted harness to keep them cozy. Never leave a child alone in a vehicle, even for just a moment. In cold weather, cars can become dangerously cold very quickly. And, when the weather warms, a car’s design creates a greenhouse effect that causes it to heat quickly, even when outside temps seem mild.5. Buckle up in the right car seatBuckle up and get comfy in a car seat that is the right size and fit for your child. The Centers for Disease Control and American Academy of Pediatrics recommend keeping your child in a rear-facing car seat as long as they fit—up to two to four years of age. Then, move to a forward-facing seat as long as they fit that—until at least age five. Once they’ve outgrown the forward-facing seat, kids should continue to wear a booster seat until a regular seatbelt fits properly on their chest and lap. Experts agree any restraint is better than no restraint, but a 2004 report from State Farm and The Children’s Hospital of Philadelphia shows graduating to the seatbelt too early can mean a higher risk of abdominal injuries, so don’t rush! Kidsafe Australia has an easy five-step test you can conduct to see if a child is ready to say goodbye to the booster seat.There’s another good reason to keep your child in the right seat for their size—the risk of lap belt entanglement. Children are inquisitive, and they may want to pull the seat belt all the way out to see how it works. Yikes! This is how seatbelts become risky. Most seatbelts lock into place when sharply tugged on or pulled all the way out of the retractor, and once the belt locks, the child may not be able to get out.The right car seat can help keep curious tots away from loose seatbelts. If your child has outgrown their car seat and is now using a seatbelt, teach them that it is not a toy. If their hands need stimuli, try designating a special toy for the car that can offer a distraction. Fidget spinners, squishy balls, or a stuffy from your kid’s favorite show can all help make rides fun and safe! 6. Lock your car (and teach your kids how to get out)The NHTSA says since 1998, more than 230 children in the United States “have died in cars after they gained access to a vehicle and became trapped.” Lock your car and trunk with the windows closed when you aren’t using it, so tiny explorers can’t jump in. And encourage your neighbors to do the same!Cars built after 2001 have an emergency release mechanism that allows someone to open the trunk if they are trapped inside. Make sure yours works and teach your kids how to use it to escape. Younger kids might not have the strength to open the trunk from inside, so above all, teach children that cars and trunks are not for playtime. And those are 7 ways to childproof your carLet’s be real – childproofing is just one of the many expenses you’re probably staring at right now. Paw Patrol themed birthday parties for Sophia, new Bluey sneakers for Grayson, Robux for little Riley’s Roblox habit… it all adds up. Free up your cash by refinancing your vehicle.Ready to spend less on your auto loan, and more on making memories with the ones you love? Find out how much you could save with just a few clicks.Get your free quote now.

Here’s what you need to know. Credit scores are crucial in determining eligibility for various loans, including car loans. Your credit score is determined by factors like payment history, types of credit, length of credit history, credit utilization, and recent inquiries on your creditYour credit score is a key factor lenders use to determine whether or not to give you a loan, and if so, at what rateThis is true both when getting a new loan and refinancing an existing loanIf your credit score is low, there are things you can do to raise it or secure a loan anywayRead on for a more detailed look at credit scores and their effect on your ability to get an auto loan or auto loan refinance.Credit Scores and Car Loans: Your GuideUnderstanding how credit scores impact car loans can help potential buyers make informed decisions. In this article, you’ll learn about the intricacies of credit scores and their influence on car loans and refinancing, as well as get tips for improving your credit score and navigating car loans if your credit score is low.Understanding Credit ScoresFirst, let’s look at the following frequently asked questions about credit scores:What is a credit score?How is a credit score calculated?Why do credit scores matter for car loans?How does your credit score affect your interest rate?What Is A Credit Score?A credit score is a numerical representation of an individual's creditworthiness. Here are the ranges as defined by FICO.RatingCredit Score RangePoor<580Fair580-669Good670-739Very Good740-799Exceptional800+It is derived from a person's credit history and serves as a tool for lenders to assess the likelihood of repayment. A higher credit score typically indicates a lower credit risk, making it easier to secure favorable loan terms.A good credit score is crucial for various financial transactions, such as applying for a mortgage, car loan, or credit card. Lenders use this score to determine the interest rate you will be charged and the credit limit you will receive. Therefore, maintaining a healthy credit score is essential for accessing affordable credit and favorable terms.How Is A Credit Score Calculated?Credit scores are calculated using various factors, including: Payment historyCredit utilizationLength of credit historyTypes of creditNew credit inquiriesThese factors are analyzed using sophisticated algorithms to generate a three-digit number that expresses your perceived credit rating and worthiness.Payment history plays a significant role in determining your credit score. It reflects whether you have paid your bills on time, missed any payments, or defaulted on loans. Consistently making on-time payments can positively impact your credit score and demonstrate your creditworthiness to potential lenders. Credit utilization, which is the amount of credit you use compared to your total available credit, also influences your score. Keeping your credit utilization low can help boost your credit score and show responsible financial behavior.How Does Your Credit Score Affect Your Interest Rate?Lenders use credit scores to measure a borrower's ability to repay the loan on time. Higher credit scores often result in lower interest rates, potentially saving borrowers thousands of dollars throughout the loan, because the lender believes the borrower is more likely to make all their payments and in a timely fashion. Lenders offer higher rates when they feel they’re taking on more risk with the borrower.And that’s not all.A good credit score not only affects the interest rate you’re offered, but also the loan terms available to you. Borrowers with high credit scores may have access to better loan terms, such as longer repayment periods or lower down payment requirements. This can make a significant difference in the loan's overall affordability and the borrower's monthly payments.Why Do Credit Scores Matter For Car Loans?Credit scores impact not only the interest rates but also the approval process itself. Lenders may be more willing to approve loans for borrowers with high credit scores due to their demonstrated history of responsible financial behavior. On the other hand, borrowers with lower credit scores may face more stringent approval requirements or may need to provide additional documentation to support their loan application.Borrowers with excellent credit scores can typically secure the most favorable interest rates, while those with lower scores may face higher rates or be deemed higher risk. This is because lenders factor in the potential risk of default when determining interest rates.Ways to Improve Your Credit Score For Better Car Loan OptionsTaking proactive steps to boost your credit score can increase your chances of getting more favorable loan offers.In this section, we’ll look at:Strategies to boost your credit scoreThe expected time frame for credit score improvementStrategies To Boost Your Credit ScoreKey ways to improve your credit score include: making timely payments, keeping credit utilization low, avoiding unnecessary credit inquiries, and maintaining a healthy mix of credit types. Gradually implementing these strategies can help elevate your credit score, opening up more favorable loan options.To start, consider these actions:Ensure you pay your bills on time. Payment history is a significant factor in calculating your credit score.Keep your credit utilization low by not maxing out your credit cards or by paying down credit card debt. This can also help improve your score.Time Frame For Credit Score ImprovementImproving your credit score takes time and patience. Positive changes to your credit habits can take a few months or longer to be reflected in your score, depending on your individual circumstances. Consistency and responsible financial behavior are key to significantly improving your credit score.Navigating Car Loans With A Low Credit ScoreA low credit score does not always mean obtaining a car loan is impossible. Here’s the short version:There are options available for car buyers with less-than-perfect credit. Some lenders specialize in providing loans to individuals with lower credit scores, although these loans may come with higher interest rates and stricter terms.Exploring alternatives such as secured car loans or co-signing may help secure a car loan despite a low credit score.Options For Car Buyers With Low Credit ScoresSecured car loans are a viable option for individuals with low credit scores. These loans require collateral, such as the vehicle itself, which reduces the lender's risk. By offering collateral, borrowers may have a better chance of being approved for a car loan, even with a low credit score. However, borrowers must understand that defaulting on a secured car loan can result in collateral loss, typically meaning the vehicle would be taken away from them.Borrowers with less-than-ideal credit scores can also look into getting a loan with a co-signer or co-borrower. This is common for young people without much credit history and for those working their way back from a low credit score. If you have a family member or trusted person with good credit willing to share responsibility for the loan with you, you may be able to get approved or get a better rate based on their good credit.Risks And Considerations For High-Interest Car LoansHigher interest rates can result in higher monthly payments and increased overall loan costs. Before committing to such loans, borrowers should carefully evaluate their financial situation and consider the long-term implications of the loan terms. High-interest car loans can lead to financial strain for borrowers, potentially impacting their ability to meet other financial obligations. It's essential for individuals with low credit scores to assess whether the loans available to them are manageable within their budget and to explore other options, such as improving their credit score before applying for a car loan. By taking proactive steps to enhance their creditworthiness, borrowers may qualify for more favorable loan terms in the future.Credit Scores And Car Loan RefinancingRefinancing a car loan involves obtaining a new loan with better terms to replace an existing one. It can be a valuable option for borrowers looking to lower their monthly payments or secure a lower interest rate. Refinancing is essentially the same as applying for a new auto loan, when it comes to credit score considerations, with a few added dimensions to keep in mind—in particular, how your credit score or financial picture has changed since you got your initial loan.Read on to understand:When to refinanceHow getting a new loan or refinancing a loan could affect your credit scoreWhen To Consider Refinancing Your Car LoanYou may want to refinance if:Your credit score has gone upYour debt-to-income ratio has gone downMarket rates have come downYou’re having trouble meeting your monthly payments and need new loan termsYou got a bad deal on dealership financingLet’s take a closer look.Your FinancesHaving an improved credit score often opens the door to refinancing opportunities, resulting in substantial savings over the life of the loan. The same is true for an improved debt-to-income ratio.Refinancing can also provide an opportunity to adjust the loan term, potentially extending it to lower your monthly payments or shortening it to pay off the loan sooner.The MarketIf market interest rates have dropped significantly since you initially took out your car loan, refinancing could be a strategic move to capitalize on the lower rates and reduce your overall interest expenses. Your Initial LoanLastly, if you got dealership financing, it’s likely you got a higher rate than you qualified for due to dealership rate markups, in which case you may want to consider refinancing in order to secure the rate you qualified for in the first place, even if little else has changed.How Car Loans and Refinancing Can Affect Your Credit ScoreRefinancing or getting a new car loan may temporarily impact your credit score. When you apply for financing or refinancing, you’ll get a hard inquiry on your credit report. However, the effects of this inquiry and new line of credit are temporary. If you make your payments consistently and responsibly, your new line of credit or refinance can raise your credit score in the long term.Particularly with refinancing, it's essential to note that while a hard inquiry may initially cause a slight dip in your credit score, the long-term benefits of refinancing, such as lower interest rates and improved payment terms, can outweigh this temporary effect. By staying vigilant about your credit utilization and payment history, you can mitigate any potential negative impacts on your credit score and position yourself for financial success.Now You Know All About Credit Scores & Auto LoansHere are a few key takeaways:By understanding how credit scores and car loans intersect, potential car buyers and those looking into auto loan refinancing can make informed decisions about their financing options. Being proactive and responsible with your finances can lead to a better credit score and greater financial freedom in the future.Improving your credit score, exploring alternative loan options, and considering refinancing can all contribute to securing a car loan that aligns with your financial situation and goals. If you’re interested in refinancing an auto loan, Auto Approve is here to help. When you refinance with Auto Approve, you get access to our network of 50+ trusted lenders, and an auto refinance expert to review your options with you and take care of the paperwork for you to make refinancing as quick and easy as possible so you can skip straight to saving money.GET A QUOTE IN 60 SECONDS

Here’s the quick version. When you’re shopping for a new auto loan or auto refinance, you should make sure to pay attention to the following things if you want to make sure you’re getting the best possible rate. Taxes Origination fees Registration fees Your overall APR Your interest rate Any dealer’s reserve Pre-payment fees Your loan term Some of these fees will be stated outright, while others you might need to infer. This is part of why it’s always good to get a pre-approval before going into a dealership—so you have a good sense of the interest rate and annual percentage rate (APR) you qualify for and can catch any added markups or fees.Read on to take an in-depth look at these fees, mark-ups, and other fine print items that can affect how much you pay on your auto loan.Auto Loan Fees: The Complete GuideDoesn’t it seem like the price tag these days is never the real price tag? Everything has added fees and hidden costs, so it is almost a guarantee that everything will cost more than you expect. And auto loans are no exception, whether you're buying a new car or refinancing your vehicle. There are always extra fees that rear their head and end up costing you an arm and a leg. So in this guide, you’ll get a much needed heads-up as to what to look for when you are choosing an auto loan.We’ll answer:What fees are charged on an auto loan?What should I look for when choosing a car loan?Should I refinance my existing auto loan?What Fees Are Charged On An Auto Loan?TaxesOrigination FeesRegistration FeesAbout Auto LoansFirst let’s discuss how auto loans are calculated, and then we can get into the added fees that come into play.You’ve picked out your car and you are so excited—it’s exactly what you want, down to the color and trim level. Once you have picked out all your add-ons, you have the total cost of the car. That is what your loan will be based on. The total amount of the car minus any down payment is the starting point for your loan. And then (drumroll please), enter the fees.Fees and taxes are added onto your principal (the tax is calculated based on the total cost of the car), which combined with your car loan APR, will determine your monthly payments. Here are some of the fees you can expect to pay for your car loan. These fees may also apply when you are refinancing your car, so if you choose to refinance, keep that in mind.TaxesYes, you have to pay sales tax on your new car. And that can add up to a lot of money. On a $30,000 car in a state with 6% sales taxes, that’s an extra $1800 for which you are responsible. This added cost gets added into your principal when you finance. Obviously taxes are non negotiable, so they are an added cost you will have to pay. You will not need to repay taxes when you refinance your car loan.Origination FeesOrigination fees are essentially the commission on a loan. They are also known as acquisition fees. They essentially pay for all of the paperwork that is required for financing. They are usually calculated as a percentage of the original loan, between 1% and 2% of the principal amount. On a $30,000 car with a 2% origination fee, it would be an extra $600 tacked onto your financing. While you might not be successful, it is definitely worth trying to negotiate on the origination fees. They are one area where the lender has some discretion, and it never hurts to ask. It might end up saving you a couple hundred dollars.Registration FeesAnd then there are the registration fees. You must pay a registration fee, title fee, and sometimes a plate transfer fee. These fees will depend largely on where you live, but you can expect them to run you somewhere around $150. These are non-negotiable fees.What Should I Look For When Choosing A Car Loan?Interest Rate and APRPayment TermsPrepayment PenaltiesCustomer SatisfactionIn addition to the fees that are charged, what else should you look for when choosing an auto loan? There are a number of factors that should come into play when deciding on car loan financing. Here are the top things to consider.Interest Rate and APRWhen choosing a car loan, the car loan APR is perhaps the most important thing to consider. Securing a lower APR is what will save you money. The interest rate that you are offered will be based on a number of factors, such as:Your credit scoreYour payment historyYour incomeYour debt-utilization ratioPrevailing interest ratesYour APR is your combined interest rate + any fees. For refinancing:If your credit score has increased since your initial financing, you may be eligible for a lower APR. If your income has increased, your debt utilization ratio has decreased, or market rates have decreased, you may also find that you are eligible for a lower car loan APR.If your credit score has not improved, aim to increase your score before refinancing. Your credit score is the single most important factor when lenders are preparing their financing offers. Look to make consistent, on time payments and request higher credit limits. Reducing your credit utilization ratio will also help immensely. Committing to increasing your credit score will help you secure a lower rate and save you money in the long run. Loan Payment TermsWhen deciding on a car loan, you want to consider the payment periods as well. In general, lower APRs are tied to shorter repayment periods, while higher APRs are tied to longer repayment periods. The shorter payment period will mean that your monthly payments will be higher (because you’re paying more of the loan in each payment), while a longer payment period will mean that your monthly payments will be lower. You will have to figure out what works best for you—sometimes a longer loan term and higher APR is the right choice to keep your monthly expenses low. But note that sometimes, when you get dealership financing, you’re offered something that looks like a better deal because it includes a longer loan term, meaning you have a lower monthly payment, but because of the APR, will cost you a lot more in the long run.Prepayment PenaltiesMany car loans have prepayment penalties built into them. This is to dissuade borrowers from paying off early (after all, the earlier you pay the loan off, the less interest you will end up paying and the less money they will make). If you are thinking that refinancing might be an option in the future, this may factor into your decision. These prepayment penalties can vary widely and can be quite expensive.The Customer Satisfaction RatingsYou should always pay attention to what other customers are saying. Are the lenders reliable and trustworthy? Are they responsive when there are issues? Check out websites like TrustPilot, Better Business Bureau, and Lending Tree to see what some of the most common complaints are. Top complaints for auto loan financers tend to include the following:Communication issues in regards to forbearance (when you pause your payments temporarily)Repayment options for forbearanceDelays from lender with regard to loan modificationOvercollection of funds for taxes and insuranceConfusion with account noticesPutting overpayments into an unallocated fund rather than applying them to the loan’s principalCommunication issues and a lack of transparency are usually at the top of the list when it comes to auto loan lenders. Be sure to consider this when making your decision.Should I Refinance My Existing Auto Loan?If you already have a car loan, you may be wondering “should I refinance my car loan?” And the answer is: probably! Here’s how you can decide if a car loan refinance is right for you.Car loan refinance is worthwhile if any of the following apply to you:You got talked into dealer financing with your original loan (which have notoriously high car loan APRs)Your credit score has improved since your initial financingThe market rates have dropped since you initially applied You need some extra breathing room in your monthly budgetYou want to add or remove a co-borrower to your loanIf any of those apply to you, car loan refinance may be a great option to save money and make your life a little easier. On the other hand, if any of the following apply to you, it might not be the best time to refinance your car loan.If your existing loan has heavy prepayment penaltiesIf you need a high credit score for another applicationIf your existing loan is less than six months oldIf your existing loan has less than a year leftIf your credit score has decreasedAnd That’s What You Need To Know About Auto Loan Fees And How You Can Decide Which Car Loan Offer Is Right For You.Choosing an auto loan is a big decision, but it’s worth taking your time to read the fine print, because choosing the right loan for you can save you a lot of money and stress in the long run. And, if you got a bad deal or your loan no longer works for you, don’t fret! Get a free, no-commitment quote from Auto Approve and our refinance experts can help you find a better deal and understand the fine print.At Auto Approve, we work with a network of over 50 trusted lenders all over the country, which means we can get you the most competitive rates out there. Our experts can not only guide you through the process of refinancing, but can help you compare offers and complete the paperwork. Auto Approve will even handle the pesky paperwork for the DMV! So, if you are thinking about car loan refinance, get your free quote now—all you have to do is answer a few questions and you’ll have a quote in minutes. GET A QUOTE IN 60 SECONDS