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Thinking about refinancing your vehicle loan and want to know all the tips and tricks to make sure you get the best deal? Here’s the tl;dr version. Time the refinance right for eligibility and a better dealGet your paperwork in order before applyingShop around for lendersApply to at least 3-5 lenders, making sure to submit all applications in the same two week window to avoid taking a bigger than necessary credit dipChoose your best offer, taking into consider APR (annual percentage rate), any fees or penalties, and repayment periodsOr, you can make it easy by using a company like Auto Approve. In short: Refinancing your car loan is a great way to get a better deal on your car loan, and using a company that specializes in car loan refinance is the best way to do it.About usAt Auto Approve, our refinance experts can help you get a preliminary quote, guide you through the process, connect your application with 50+ trusted lenders, help you read the fine print to find your best deal, then do the paperwork for you—all at no extra cost to you.Millions of American drivers are eligible for a lower car payment, all they need is to find the right refinance. Find out if you’re one of them and get a quote for how much you could save in just 60 seconds—all for free, no commitment or hard credit check required.Get your quote now.Read on for a more detailed look at the refinance process, eligibility, and the best way to refinance a car loan.The Best Way to Refinance A Car Loan: Your Ultimate GuideWhen you initially financed your car, you might not have gotten the best rate, especially if you chose to get financing through your dealership. But starting with a bad deal doesn’t mean you have to live with a less-than-great car loan rate. Refinancing your car loan is a great way to get a better car loan APR and better loan terms. So what’s the best way to refinance, and how can you get started?In this article, we’ll cover:What it means to refinance a car loan Why people choose to refinance a carWhere to refinance your car to get the best dealThe best way to refinance a car loan (broken down into steps)What Does It Mean To Refinance A Car Loan?Refinancing a car loan is when you replace your existing loan with a new car loan, ideally with better terms for your unique situation. Why Refinance A Car Loan?In short, refinancing is the only way to change any aspect of your loan terms. You might choose to refinance to:Save money by securing a lower car loan APRChange to a longer or shorter repayment term (paying less monthly or saving overall on interest)Add or remove a cosignerIf you are asking yourself “should I refinance my car loan?”, you can decide if refinancing your car loan is good move by asking yourself the following:Is it possible I can find a lower car loan APR?Am I struggling to make my monthly car payment?If the answer is yes to either of those questions, refinancing your car loan may be a great option. Of course, there are other reasons to refinance, like if you want to add or remove a co-borrower, or if you want to shorten the length of your loan to save overall because you have more cash on hand now or are planning to move or retire and want to finish paying off the loan. However, paying less monthly—whether through rate savings or term changes—is the most common reason people choose to refinance.A Lower Interest RateYou can find a lower car loan APR if any of the following apply to you:You got dealership financing and didn’t negotiate on the fees.Your credit score has improved since your initial financing.The market rate has decreased since your initial financing.Your debt to income ratio has improved since your initial financing. Refinancing is very beneficial when you can find a lower car loan APR. When you reduce your rate, you reduce your monthly payments and save money over the life of your loan.A Different Repayment PlanIf you are having a hard time making your monthly car payments, refinancing can help you change your repayment plan, which can change your monthly payments greatly. Lengthening your repayment period allows you to repay your principal over a longer period of time, making each payment smaller. Note that you will pay more in interest (since you will be paying interest for a longer period of time), but it can be a worthwhile tradeoff if you are having trouble making ends meet every month.Where Should You Refinance Your Car?That will depend on your credit, your vehicle, and the current market rates. There are many financial institutions that will refinance your car loan. Traditional banks, credit unions, and online lenders are all great options. To get the best deal on your refinance, you’ll want to shop around.That’s why the best way to refinance your car loan is to go through a company that specializes in car loan refinance, like Auto Approve. At Auto Approve, we work with a network of banks, credit unions, and lenders across the country, which means our trusted experts can help you shop around and compare your options quickly and easily. If you choose to refinance your loan on your own, you will need to do a lot of research to determine where you should apply. Then, you will need to apply and compare the different terms and rates that are offered to you. When you use Auto Approve, this process is fast and easy. Auto Approve will handle all of the background work for you, so all you have to do is pick your best refinance option.Then, once you find the vehicle refinance loan that is right for you, Auto Approve can make sure that your old loan gets paid off and that all of your paperwork is done correctly. We’ll even handle the DMV paperwork for you. Worth noting: You can refinance your car loan through a dealership, but that is typically the most expensive option. And, while you may be able to refinance with your existing lender, that is similarly unlikely to get you a great deal.The Best Way To Refinance A Car LoanIf car loan refinance sounds like a good option for you, it’s easy to get started.Step 1: Make Sure You Qualify.There aren’t a lot of qualifications when it comes to refinancing, but eligibility may depend on:How old your car isHow many miles your car has on itHow much money and time is left on your existing loanGenerally, most lenders won’t approve a refinance at the very beginning or end of a loan—you’ll want to have had the loan for at least 6 months and ideally have at least two years left on the loan, so timing does matter.If you aren’t sure if you qualify for refinancing, Auto Approve can help! Our agents can help you determine if you are eligible for refinancing (and find out how much money you could be saving).Step 2: Prepare Your Finances.A little preparation can go a long way when it comes to refinancing. Car loan refinancing is most beneficial when your credit score and your finances are in tip top shape. Here are a few things you could do to ensure that your score is at its best:Commit to making full, on-time payments.Request a copy of your credit report and review it for any errors.Request higher credit limits.Avoid applying for any other lines of credit while you are in the process of refinancing.When you feel like your finances are in order, gather your paperwork. You’ll want to have the following documents ready to go:Your driver's licenseYour SSNProof of addressYour car’s make, model, year, mileage, and VINCurrent proof of insuranceCurrent vehicle registrationPay stubs or proof of incomeCurrent loan informationFinances out of whack? If you are having trouble with your monthly payments, go through your monthly budget to determine what you can afford to pay. Experts recommend that your monthly transportation expenses (this includes car payments, gas, parking, maintenance, and insurance) does not exceed 20% of your monthly income.Step 3: Do Your Research.If you are refinancing on your own, you should try to do as much research as you can. Talk to friends and family to see if they can recommend a lender. Go online and read reviews to get a sense of how competitive different lenders’ rates are and see how their customer service stacks up. You should aim to apply with 3-5 lenders, so you’ll likely want to research at least 10 options. Or, if you use Auto Approve, we’ll handle this step for you and identify the best lenders in our network for your unique financial picture. Step 4: Apply. When you have narrowed your list down, it’s time to apply. Send out all of your applications in a two week timeframe: the credit bureaus give you two weeks where all hard inquiries will count as one hit on your credit score. When you use Auto Approve, we quickly handle all of your applications for you so you don’t need to worry about the two week timeframe.Step 5: Choose Your New Lender (And Start Saving!).When your offers come in, be sure to compare all terms. Check and compare the following:The car loan APRThe repayment periodThe assorted feesThe prepayment penaltiesOnce you determine the best car loan for you, all you have to do is sign and save. At Auto Approve, we handle the paperwork for you and ensure that your previous loan gets paid off. And that’s it! Auto Approve makes refinancing your car loan as easy as possible.Refinancing Your Car Loan With Auto Approve Is The Best (And Easiest!) Way To Refinance.The sooner you begin the refinance process, the sooner you can start saving money. Get started with your free quote now.

Figuring out what vehicle you can afford involves a few different factors.Here's a quick way to figure out your maximum monthly car payment.Your total transportation costs (including gas, parking, insurance, maintenance, and car payment) should total no more than 20% of your monthly income.If you already have a vehicle, you should be able to get a good idea of what you might need to budget for gas, insurance, and so on in a typical month. If not, you can either ask around, or do a little research on average current prices for common costs in your area. From there, you can figure out how much you can afford to pay for your monthly car payment.Then, you’ll want to look at the APRs (annual percentage rate) available to you. A car payment includes more than just the price of the car divided by the number of months in your financing – there are also fees and interest charges to think about.Read on to take a more detailed look at the factors that go into how much car you can afford, how to calculate your car payment budget, and how to find the best deal for you.Your Guide To Budgeting For a Car Payment When you decide the time is right to buy a new car, it’s easy to get carried away. With so many makes, models, and exciting new features available, you might start to feel like a kid in a candy store. But there’s one factor that can jam the brakes pretty quickly on your big hopes and dreams: your budget.Keeping your budget in mind is incredibly important when deciding what car is right for you. But how do you know how much you can actually afford? In this guide, you’ll learn:How much car you can affordWhat lenders look for when determining your APRHow to get the best price when you want to buy a car1. How Much Car Can I Afford?When determining how much car you can afford you need to carefully consult your budget. That means all of your incoming money and all of your outgoing money. There is a general rule that you should not spend more than 20% of your monthly income on transportation expenses.That may sound pretty cut and dry, but that 20% of your income doesn’t mean that you can spend 20% on your car payment alone. That number includes:GasParkingMaintenanceInsuranceOther car related expensesWhile it’s hard to predict every expense, you should have a rough idea of how much gas you go through, how much your insurance will be, and whatever other expenses you may have. If you have a monthly income (take home income, not your salaried amount) that is $4,000, your monthly car expenses should not exceed $800. If you spend $100 on gas, $100 on insurance, and $100 on other expenses, your monthly car payment should not exceed $500.Your car payment will depend on three main factors:The price of the car. The less expensive your car is, the less your monthly payments will be. This price is dependent on the make, model, trim level, and other features you may want in your car. The car loan APR you are offered. The car loan APR you are offered will be based on your credit score, the market rates, and other factors.Your repayment period. The shorter your repayment period is, the higher your monthly payments will be. But this also means you will end up paying less in interest over the life of the loan.Before you go shopping for a new car you should have a good idea of what type of car payment you can afford. While you can negotiate on the price, the APR, and the repayment period, you want to be sure you do not get in over your head with a car payment that you cannot afford.2. What Do Lenders Look For When Determining APR?Your car loan payments will depend largely on the type of financing you can secure. When applying for a car loan, lenders will look at the 5 Cs of credit: character, capacity, capital, collateral, and conditions.These characteristics help them decide how credit-worthy you are. The car loan APR that you are offered will be based in part on these factors. Together, they paint a picture of how risky your loan is.CharacterYour character refers to your credit history and how well you have managed your debts previously. Lenders will look at your credit report to determine whether or not they think you are an eligible candidate for a loan with a good APR. The best thing you can do before applying for a car loan is work to improve your credit score.CapacityCapacity refers to your ability to repay the loan. Lenders look specifically at your debt to income ratio. You can calculate your debt to income ratio by adding up your monthly debt payments and dividing that by your pre tax income. Multiply that by 100 to get a percentage. Experts recommend that this number be below 36% for homeowners and below 20% for renters. This number tells lenders whether or not you have the means to repay the loan you want.CapitalCapital refers to the amount of money you will actually put down as an investment on your loan (a down payment). The larger your down payment is, the more favorable your terms will be.CollateralYour collateral is what you will lose should you fail to repay your loan. Your new car is the collateral for a new car loan. When there is collateral the loan is referred to as a secured loan, which is less risky for a bank than an unsecured loan. Secured loans tend to have more favorable terms.ConditionsConditions refer to any other factors that may affect your loan, such as the prevailing market rates.That said, dealerships also mark up their rates using something called dealer’s reserve, even for buyers with good credit. If you got, or are thinking about getting, your financing directly from your dealership, you may want to consider refinancing after 6 months to a year to get the lower rate you most likely qualify for.3. How Do I Find The Best Price For A Car?If you know how much you can safely afford for a car payment every month, you can roughly estimate the market price of the type of car you can afford. But the lower you can get this number, the better off you will be every month when making your payments.When it’s time to buy a car, follow our steps below to ensure you get the best deal possible:ResearchStay flexibleLook for dealsGet pre-approvedAvoid add-onsNegotiateStep 1: ResearchDoing your research is essential when it comes to buying a car. Not only do you need to figure out how much you can truly afford to spend every month, but you need to figure out what a fair price is for the car you are interested in. Checking Kelley Blue Book and Edmunds can give you an idea of what a fair price is for the car you are interested in.Step 2: Be FlexibleWhile we all have our dream cars and dream features, it’s important to be flexible when shopping around. This is especially important in today’s car market where there are shortages and increased price tags. Having an open mind will help you find a car you love for the right price. Step 3: Look For DealsYou should look around at a number of different dealers and compare pricing, and then compare those to online dealers. There are a lot of online dealers, including:AutotraderCars.comCarsDirectCarvanaEnterpriseTrueCarVroomIf nothing else, having other numbers for comparison can help you negotiate at a dealer.Step 4: Get Pre-ApprovedGetting pre-approved for your car loan before you even set foot in a dealership is a must. It will give you more leverage when you visit the dealership and will also help ensure that you stay within your budget. You can also shop around ahead of time for a reasonable rate, which is always a good idea.Step 5. Avoid The Add-OnsIt’s easy to get talked into add-ons and features that will drive up the price of your car significantly. Anti-theft devices, window tinting, key protection, paint and fabric protection, all-season floor mats, and wheel locks are just some of the features your dealer may offer you. While some of these may be of interest to you, keep in mind that they will increase your car’s total price by thousands of dollars. It’s a good idea to consider which features are actually worth paying extra, and which are less important. When you see the price tag, you can determine if the extra money makes sense. Step 6. Negotiate What You CanWhen you are buying a car, there are a number of places where you can negotiate to get the best terms possible. First, you should always negotiate the market price. If you can prove that you can find the car at a lower price elsewhere, you will be more likely to get a good deal. You should always be willing to walk away from a bad deal, so don’t let your emotions get the best of you.Additionally, many drivers don’t realize that you can negotiate on any fees that might be tacked onto your car purchase. There are a number of added fees you may be expected to pay when you buy a car. These may include:Documentation feeAdvertising feeShipping feeDealer feeThese are easy places for the dealership to make money or adjust down to make a deal with you, so be sure to negotiate on fees.So, How Much Car Can You Afford?Now you know how to determine how much car you can afford—and how to get the best deal possible on the car you select.Buying a car is a big deal, but being prepared can help ensure that you get a good deal. Doing your research, getting preapproved, and negotiating your car’s price are just a few small steps that can save you thousands of dollars.And, if your financial picture changes and you find yourself struggling to cover the monthly payments for your car, or you think your dealership didn’t give you a good rate, consider refinancing! Refinancing can help you quickly and easily lower your car payment. By refinancing to a lower car loan APR or changing your repayment period, you can reduce your car loan payments by hundreds of dollars per month. Get started with Auto Approve today to find out just how much you could be saving every month! Getting a quote is free, fast, and doesn’t require a commitment or hard credit pull.Get your quote now!

Here’s the short answer: You should change your motor oil according to manufacturer recommendations, usually found in your vehicle’s owner’s manual. While the old standard was every 3,000 miles or every 3 to 6 months, newer cars using fully synthetic oil or a synthetic blend can often make it much further before a change is needed — roughly between 5,000 and 10,000 miles.That said, how often you need to change the oil in your specific vehicle will depend on make, model, oil type used, and your usage of the vehicle. Vehicles that get heavier usage, especially in environments that have a lot of dust or dirt or in extreme temperatures, will typically need more frequent changes. Vehicles that get little usage will still need an annual change because the oil breaks down with time regardless of use.Checking your oil regularly is the best way to stay on top of whether your oil needs changing. That way, you’ll know when it’s time for an oil change before you start seeing warning lights on your dashboard or hearing strange engine noises.Want the detailed version? Read on to get a better understanding of the what, how, and why of oil changes.Oil Changes: Your Complete GuideAt Auto Approve, we’re all about making smart decisions that make sense for your life and your wallet, especially when it comes to saving money on your vehicle. When it comes to oil changes, a little maintenance can go a long way toward keeping your vehicle running longer and preventing more extensive maintenance costs from cropping up down the line.In this guide, you’ll find the answers to these oil change FAQs:What is an oil change, and why is it necessary?How often do I really need to change my oil?What happens if you don’t change your oil?How much should an oil change cost?Why do mechanics say you should change your oil every 3,000 miles?Can I change my own oil?Tips for oil changes and related vehicle maintenanceWhat is an oil change, and why is it necessary?Here’s what you need to know.What motor oil does in a vehicleMotor oil lubricates the inside of your engine, keeping your engine clean, cooling it down, preventing rust and corrosion, and reducing friction and wear and tear. It’s essential to a properly functioning engine.Oil change, definedWith use and time, motor oil starts to break down and collect dirt and grime from the engine. An oil change is when you (or your mechanic) remove the old oil from the engine and replace it with new oil to keep the engine running properly. Types of motor oilThere are four key kinds of motor oil:Conventional oilFully synthetic oilSynthetic blendHigh mileage oilConventional oil is the older style or petroleum-based oil (made from crude oil) that needs more frequent changes. It’s primarily used for older cars that get regular maintenance.Full synthetic motor oil is a chemical-based lubricant manufactured for the express purpose of lubricating engines. Synthetic oil typically stays cooler, works better in more extreme environments, and takes longer to break down. The introduction of synthetic oil is why manufacturer recommendations have shifted as to how often you need to change your oil. It tends to be more expensive than conventional oil but is the preferred choice for newer vehicles.A synthetic blend is a mix of synthetic and conventional motor oil. It offers better performance than conventional oil at a lower price point than fully synthetic oil, so is a popular choice.High mileage oil is typically either a blend or full synthetic motor oil. It’s designed to help engines that have over 75,000 miles on them keep running. High mileage oil is typically more viscous and contains additives to help prevent buildup, rust, corrosion, and metal-to-metal contact. It tends to be the most expensive of all the oil options, but if you have a vehicle with a lot of miles on it you want to keep using, the extra $20 or $30 is much less expensive than engine repairs or replacement should something go awry.Why oil changes matterThe tl;dr version is: regular oil changes keep your engine running and prevent engine damage. Pretty important!How often do I really need to change my oil?That depends on several factors, namely: vehicle, usage, and oil type.Vehicle:Newer vehicles built to run on synthetic oil tend to need less frequent oil changes. As vehicles get older, oil changes become more important, and older vehicles may be more likely to need more frequent oil changes, especially if they’ve been running on conventional oil.Usage:Any of the following can result in more rapid deterioration of your motor oil, especially when done on a regular basis:Extreme heatExtreme coldExtreme humidityDriving in a dusty, muddy, or dirty environmentRepeated short trips (under 5 minutes at a time, because starting up your engine causes more wear and tear)Long periods spent idling (including in stop-and-go traffic)Hauling something heavy or towing a trailerConversely, not driving your car for long stretches can also result in getting lower mileage out of your oil because time also breaks down motor oil. Even if you haven’t driven many miles at all, if a year has passed since your last oil change, you’ll likely need to change your oil to keep your motor running properly.Why do mechanics say you should change your oil every 3,000 miles?You’ll still hear the 3,000 mile rule of thumb at many mechanic shops because it was the gold standard for many years as it is the correct mileage for an oil change if you’re using conventional, petroleum-based oil. Synthetic oil has become more commonly used since its introduction in the mid-1970s, but not every shop has updated their standard to reflect its prevalence.How to check your motor oilPark on level ground.Turn off your engine and let it cool for at least 5-10 minutes.Open your hood.Pull out and use a rag or paper towel to wipe off your dipstick (most have a yellow or orange handle).Reinsert it fully, then pull it out again.Use the markings on the dipstick to check your oil levels.Examine the oil: it should be light or golden brown and free of particulates. If the oil is dark black, gritty, or tar-like, you are past due for an oil change. If it looks milky, foamy, or contains bits of metal, these are signs of more serious issues, and you need to get the vehicle assessed ASAP.What happens if you don’t change your oil?The short answer is, if you don’t change your oil, eventually your engine will stop working properly, and in worst case scenarios, may break down entirely and need replacement. Motor oil is essentially for your vehicle’s functioning and keeps metal parts in your engine from rubbing together and breaking. Letting your engine break down by failing to do routine oil changes can also void your warranty.Warning signs that it’s time to change your motor oilHopefully, you’ll change your oil as part of your vehicle’s regular maintenance, but if you see (or hear) any of these signs, it’s probably past time for an oil change:Your oil change light comes onYour check engine light comes onYour dipstick check shows low oil levels or darker than usual oilYou aren’t getting as good mileage as usualYou smell burning oilYou hear knocking, ticking, clicking, or grinding from your engineLooking to save money? Change your oil before it becomes a must instead of a should and you’ll extend the life of your vehicle.Looking for another way to keep more money in your pocket? Consider refinancing with Auto Approve’s network of 50+ trusted lenders. Millions of drivers in America are eligible to save simply by refinancing. Find out if you’re one of them in less than a minute, no commitment or hard credit pull required.Get your free quote now.Can I change my own motor oil?It is possible to change your own motor oil, though it can be a little challenging if you’re not well acquainted with car maintenance. You’ll need to use your owner’s manual to guide you. Remember to check:Oil typeOil quantityOil filter sizeOil pan and plug locationChanging your own motor oil can save you money, as long as you feel confident in your ability to do it correctly. Be sure to do your research before diving in!Tips for oil changes and related maintenanceHere are a few more tips for keeping your ducks in a row when it comes to your motor oil.Keep good records: Keeping maintenance records will help you know when you haven’t changed your oil in a while, and can boost your car’s resale value down the lineKnow your dashboard lights: Spend a little time with your owner’s manual so you know what different alerts mean if and when they come up.Know your habits: Check your oil more often when using the vehicle in more extreme conditions or in more taxing ways.Strike a balance: Time your oil changes well and you should get more out of your vehicle over time. Changing too often is unnecessary, but stretching your oil as far as it can go can do more damage than it’s worth.Lubricate well: Spring for synthetic oil if you can, it makes a difference!That’s everything you need to know about oil changesKeeping your motor running properly is essential vehicle maintenance. Know when to change your oil and then make sure you do it and your car will reword you.Looking to make a change on your auto loan? Auto Approve can help you find your best available rate and start saving on your car payment in a snap.Find out how much you could save now.

The short version: three essential Rules For RefinancingTime your refinance to your advantageHave your paperwork in orderKnow what could disqualify you from refinancing (and avoid it!)Read on to take a closer look at these three rules and what they might mean for your vehicle loan refinance.The rules for refinancing your car: Your GuideIt’s hard to ignore how expensive everything is right now, and if you’re making monthly car payments, there’s a good chance you’re overpaying. But there’s an easy fix for that: refinance. By refinancing your car loan, you may be able save a lot of money every month, and that can really make a difference in your everyday budgeting. But how do you know where to start? And what are the rules for refinancing your car?Rule #1: Know How To Time Your Car Loan RefinanceThere are conditions that can make you a better candidate for a beneficial refinance, or make a refinance more valuable to you. The time might be right to refinance if any of the following apply to you:Your credit score has gone upMarket rates have fallenYour debt-to-income ratio has improvedYour monthly payments are too high for your budgetYou got your loan from the dealership and have had it for at least 6 monthsYour credit score has improved since you initially financedWhen lenders are determining which APR (annual percentage rate) to offer you, one of the biggest factors is your credit score. Your credit score tells lenders how likely you are to repay your debts. It is based on your past payment history, your outstanding debt, the length of your credit history, your credit mix, and how much new credit you have.Here are just a few reasons why your score may have increased since your initial financing:You made consistent, on time, full paymentsYou paid down some debtYou had a negative event expire (such as a bankruptcy)You had hard credit inquiries expireYou corrected mistakes in your credit reportSimply paying your bills consistently can have a positive effect on your credit, so even if nothing drastic has happened since you financed, your score still might have increased. It's a good idea to request a copy of your credit report to see how healthy your score is and ensure that there aren’t any mistakes.The market rates have decreased since you initially financedAnother major factor in the car loan APR you are offered is the prevailing market rates. You do not have control over this, so timing is everything. If the market rates were high when you initially financed, you may be eligible for a lower APR. Conversely, if the prevailing rates have increased since you initially financed, you might not find a lower APR.Your debt-to-income ratio has improved since you initially financedYour debt-to-income ratio is a huge factor in your car loan APR. This tells lenders if you are overextended in your monthly budget, which can help them decide how likely you are to repay. If your income has increased since you originally financed or you have paid down some of your debt, you may qualify for a lower APR.You need some breathing roomEven if you do not qualify for a lower car loan APR, refinancing your loan can allow you to change your repayment schedule. And by lengthening your repayment schedule you can give yourself some much needed breathing room in your monthly budget. If you stretch your repayment from 36 months to 60 months, that allows you to pay off your loan over an additional two years. That can easily lower your car payments by hundreds of dollars every month. You will end up paying more money over the life of the loan, but it will be worth it if you find yourself falling behind on your bills (and hurting your credit in the process).You got your loan from the dealership (and have had it for at least 6 months)Millions of Americans who got their loans from dealerships are paying higher rates than they qualified for—even with good credit!—due to something called dealer’s reserve, or dealership rate markups. If you got your loan from a dealership, and are otherwise eligible for refinance (read on!), refinancing as soon as possible can help you save the most money over the life of your loan.Rule #2: Have Your Paperwork In OrderWhile you don’t need a lot to get started on a refinance, it’s advisable to be ready when you start applying. You want to make sure you can shop around for your best rate with minimal effect on your credit. Here’s what you’ll need:Your personal information & vehicle details Your current loan informationAnd time to researchYour personal information. When you refinance, you will need some paperwork for your applications. This will most likely include:A Photo ID Your vehicle’s information (make, model, any paperwork)Proof of income and financial historyProof of residence Proof of insuranceYour current loan information.You want to look at your current loan to see what the terms are: the APR, the repayment period, and what fees are associated with your loan. One of the biggest things you want to look for is whether or not there are prepayment fees. If there are significant fees, it might not be worthwhile to refinance.A little time to research.You want to do your research when you refinance. What lenders have good reputations? Where are you most likely to get a good deal? Using a company that specializes in car refinance can save you a lot of time in this area, as they have relationships with lenders across the country and are guaranteed to find you the best deal possible.Having all of this information compiled and ready to go will make applying for refinance quick and easy. Rule #3: Avoid The Following DisqualifiersThere are a few things that can make you a bad candidate for refinance, namely:Trying to refinance too soon after you get a new loanWaiting until your loan is too oldWaiting until your car is too old or has too many miles on itHaving a loan with too little money on itYou should wait at least six months before refinancing. While this is not a hard and fast rule, experts generally recommend waiting a minimum of six months to a year before refinancing. This gives your credit score some time to bounce back after opening a new account and gives you some time to make payments on your loan and boost your score that way. But technically speaking, you only need to wait as long as it takes to get the paperwork filed to refinance. You should not wait until the end of your loan term.The earlier in your loan term that you refinance, the more beneficial it will be for you. So don’t wait until the very end of your loan to apply.Your car needs to qualify.Every lender will have different requirements for this, but your car cannot be too old or have too many miles on it. Typically if your car is over 10 years old or has over 100,000 miles on it you will have a harder time securing a refinance.You need to have enough money left on your loan.If you only have a small amount of money left on your loan, chances are you will have a hard time securing a refinance. Lenders will simply not think it is worthwhile to take on the hassle of refinance with such little payoff.Those are the simple rules for refinancing your car loan.Refinancing your car loan is easy, especially when you use a company that specializes in it. Get started with Auto Approve today to see how much money refinancing can save you! No hard credit pull or commitment required.Get your free quote now.FAQs: Car Loan RefinanceWhat is car loan refinancing?Car loan refinancing is when you pay off your existing car loan with a new car loan that has better terms for your unique situation. What can you change by refinancing?You can shorten or lengthen your loan term, find a lower APR, and add or remove a co-borrower.How does refinancing save you money?When you refinance to a new loan with a lower car loan APR, you pay less overall in interest and fees — that can mean saving a lot of money. Even if you don’t qualify for a lower APR, changing your repayment period can help you get a lower monthly payment or pay less overall. GET A QUOTE IN 60 SECONDS

Whether you are looking to buy your first motorcycle or you are a seasoned rider looking for a new bike, this guide has the answers to some of your most pressing questions about motorcycle purchasing.Here’s the short version.The key things to consider when buying a motorcycle are:stylebrandintended useengine sizeprice rangefinancing optionsnew vs. used (and condition, if used)Read on to take a detailed look at each of these factors and how they may affect your purchase plan.The Complete Guide to buying a motorcycleIn this guide, we’ll cover:What to look for in a motorcyclePros and cons of a new vs. used motorcycleThe steps to buy a new motorcycleThe steps to buy a used motorcycleWhat lenders will look at when you apply for financing for a motorcycleWhat To look for in a motorcycleThere are a lot of things you need to consider when you are selecting which motorcycle to buy.Here are some questions you should ask yourself.What is your price range?How will you pay for it?What is your intended use? For example, commuting, distance rides, or off roading?Are you looking for a new or used motorcycle?If used, what condition are you looking for?Are you comfortable performing maintenance on your motorcycle? Do you know where you will go if not?Make sure you have a clear budget for both downpayment and monthly payments, and consider all of these questions before committing to anything. Once you are comfortable moving forward, your next step is to decide which motorcycle is right for you.Motorcycle styleThere are a few different types of motorcycles out there, all of which have different advantages and disadvantages. Consider how you will be using the bike to determine which makes the most sense for you.Standard: All purpose bikes that have an upright riding posture and are best for beginners and commuters. These are not ideal for long distance rides or off roading. (i.e. Honda Nighthawk)Cruiser: Heavy bikes with a relaxed riding position and a V-twin engine that are best for taller riders who are looking for comfort. These are not ideal for smaller riders. (i.e. Harley Davidson)Touring: Touring bikes are large bikes built for long distances, characterized by heavy engines and room for luggage. These are not ideal commuting bikes. (i.e. BMW R1200GS)Sport: Smaller bikes that are built for speed and performance. They have a forward-leaning riding position and are built to be aerodynamic. These are not ideal for beginners. (i.e. Honda CBR)Dual Sport: Lightweight bikes that are built for off-roading. They are not ideal for distance riding. (i.e. Suzuki DRZ)Each motorcycle style is distinct, so your job is simply to determine which style is right for you and your lifestyle.Engine sizeIn addition to choosing your style of bike, you’ll need to determine the best engine size for your needs. Most styles come in a variety of engine sizes, and those on the smaller end (like 250 cc or 500 cc) tend to be less expensive to insure and better suited for beginners. If you’re newer to riding, you may want to consider a motorcycle similar to the one you used when getting your motorcycle license, for your comfort and safety.reputationConsider a brand’s reputation when buying a bike:Is the motorcycle model considered reliable?What parts tend to have issues?Are there any known drawbacks of the brand or model?Where will you be able to get parts and get the bike serviced?Looking online and on forums is a great way to get a sense of different makes and models. You want to read as much as possible to get a good sense of what might be the right motorcycle for your needs and comfort level.Pros and Cons of Buying a New Vs. Used MotorcycleOnce you determine what you are looking for in a motorcycle, you can start looking around. Next, you will have to decide if you are looking for a used bike or a new bike. There are some pros and cons to both new and used bikes, so consider what will work best for you.The pros and cons of a new MotorcyclePros: With a new bike, you have the security of knowing that you are the first rider. There is no mysterious history to be weary of and no concern about improper repairs. You also get the peace of mind of a factory warranty that comes standard with new motorcycles in case any problems should arrive. You will also be able to finance your bike, which may be preferable.Cons: On the other hand, you will certainly pay more for a brand new motorcycle, and the bike will begin to lose value as soon as it leaves the lot.The pros and cons of a used MotorcycleMany riders prefer to get a used motorcycle instead of a new model.Pros: Used motorcycles are typically more affordable and a better value, as you will miss out on the sharp depreciation of the first few years. The model you buy should roughly retain its value, so if you need to resell it for any reason, you’re less likely to take a big financial loss. You can also choose to work on your bike yourself, as it will not be under warranty anymore, so if you like to tinker or prefer vintage motorcycle models, a used bike may be right for you. Cons: The flip side of this is that you may not know much about the motorcycle’s past. You may discover unforeseen issues with it which can be costly to fix or even take your ride out of commission, and older parts may not be as easy to come by, depending on the make and model you choose.How to buy a new MotorcycleFind a dealer. If you are buying a new bike, it will be easy to find a dealership that has what you are looking for. Look for a dealer with a good reputation and good customer reviews. If you can, try to visit at least two dealers that have what you are looking for so that you can compare the rates and terms. Negotiate the terms. Question all of the prices and negotiate as much as you can. There is usually wiggle room on the MSRP and the fees such as the destination charge and the assembly charge.Decide how you will pay. Are you paying in cash or are you financing? Paying in cash will get you a better deal overall and give you more negotiating power, but if you have good credit then financing shouldn’t be an issue. Pick a lender. Shop around for financing before you get to the dealership. Dealership financing is notoriously more expensive. Instead, get pre-approved and think about how much you can comfortably afford every month. Making a significant down payment (at least 20%) will greatly help your monthly payments. Pick a repayment period that is between 2-5 years; the shorter your repayment period is, the higher your monthly payments will be, but the less you will pay overall.Register and insure. After you sign on the dotted line, you will need to register and insure your new bike. And that’s it! You can enjoy your new wheels immediately (after picking up the right safety equipment, of course).How to buy a used MotorcycleFind your bike. If you are looking for a used motorcycle, you may need to do a bit more research. Craigslist, Motorcycle Trader and eBay are all great places to start. Do your research. Know what the Kelley Blue Book value is before you see the bike so you know you aren’t getting scammed. The more familiar you are with the bike, the better off you will be.Be safe and smart. If you decide to see a bike, be sure to take safety precautions. Meet in a public place and bring a friend along. Assess the condition. Be thorough when looking at the bike to make sure it is in good condition. If you notice any of the following, proceed with caution: high mileage, salvage titles, excessive wear, or difficulties starting, running or stopping.Pay in full. If you are comfortable with the condition of the bike and feel that it is fairly priced (you can always try a little haggling!), then be prepared to pay in full with either cash or a cashier’s check. And remember to get a signed receipt.Register and insure. You will still have to get it registered and insured, but after that it’s all yours.What do lenders look for when You Apply For motorcycle Financing?If you are looking to get a new motorcycle and get it financed, you have a few options: you can finance from a bank or credit union, directly from the dealership, or through manufacturer financing programs.Lenders will take a few different things into consideration:Your credit scoreYour income and debt-to-income ratioYour down paymentYour loan termThe price of the motorcycleDepending on these factors, lenders will determine what motorcycle loan APR is appropriate. It is a good idea to make sure your credit score is in top shape before applying for financing. What if you got a bad deal on your Motorcycle Financing?If you end up getting a high rate because you selected dealership financing, or if you already have a motorcycle that is financed and aren’t happy with your loan, you may be able to refinance your motorcycle loan and save. By using a company that specializes in refinance, you can quickly and easily reduce your motorcycle loan APR and reduce your monthly payments.If any of the following apply to you, it is definitely worth considering:Your credit score has improved since you first financedYour debt-to-income ratio reduced since you first financedThe market rates have decreased since you first financedYou got your loan directly from a dealershipthat’s everything you need to know about buying a motorcycle.When buying a motorcycle, you want to take your time and do your research to make sure you are fully prepared. Buying a motorcycle is a big choice, but it can lead to some pretty amazing adventures. And if you find yourself with a high APR or a monthly payment that just doesn’t work for you, remember—you can refinance a motorcycle to get a better rate!Want to lower your monthly vehicle payments with Auto Approve?GET A FREE QUOTE IN 60 SECONDS

Here’s What You Need To Know.You can buy your leased vehicle, if you so choose. This is called a lease buyout.Drivers choose to buy their leased car for many reasons, including: because they like and are comfortable with the car, to avoid fees from excess mileage or wear and tear, or because the buyout price is a good deal.What it will cost you depends on a variety of factors, most importantly the residual value as listed in your original lease.If you need help affording to buy a leased vehicle, you can get a lease buyout loan.Want to know more? Read on for the answers to all the most common questions about the end of a car lease and how to keep your leased vehicle through a lease buyout.Your Guide To buying your car when your lease endsDriving off in your new leased car is one of the best feelings. The new car smell, the quiet engine, the security of knowing that you are the first owner. But when your lease is up, you might find yourself wondering what to do. Should you keep the leased vehicle, sell it, or trade it in? And if you decide that you want to buy your car, how do you go about it?In this guide, we’ll take an in-depth look at the answers to the following three questions:What is the best thing to do at the end of a car lease?How do you decide whether to buy a car at the end of a lease?How does a buyout work with a lease?What is the best thing to do at the end of a car lease?When your lease ends, you have three options: you can return your car and get another lease, you can return your car and buy a different car elsewhere, or you can buy your leased car from the dealership.Here’s what you need to know about each option.Keep LeasingThis is the simplest option for most people and is the most preferred option for dealerships. This allows you to simply return your car and start a new lease with a new car. The dealership will then sell your used leased car and make a good profit. If you choose to return your car, you will need to make sure that your lease is in good standing. This means that you have not gone over your mileage allotment (usually 12,000-15,000 miles per year) and that your car is in good condition. If your car is a little banged up or you have put too many miles on it, you may be required to pay additional fees.Lease Turn-InYou can also choose to simply turn in your leased car and not get another lease. Your lease simply expires and you are free to find another car elsewhere. When you return your lease to the dealership they will inspect your car for any excessive wear, dents or dings to the exterior of the car, and any stains or tears on the interior. You will most likely have to pay fees if there is any damage or if you have gone over the mileage limit. Lease BuyoutIf you love your car and don’t want to part with it, you can choose to buy your lease. You can typically buy your car at any point during your lease, but you will need to consult your contract to find out what the lease purchase price will be.How do you decide Whether to buy a car at the end of a lease?Car lease buyout is right for you if any of the following apply to you:You like the carYou are over the allotted mileageYou have excessive wear and tearYour car is worth more than the buyout priceYou like the carBuying your lease can be as simple as wanting to keep your car. New cars are expensive right now, and even the used car market is pretty pricey, so getting a new car might not be ideal right now. If you like how your car drives and hate the idea of shopping around for a new car, a lease buyout might be a great option for you.You are over the allotted mileageLease agreements come with a mileage limit that you must consider. They typically range from 12,000 to 15,000 miles per year, and if you go over that allotment you will be charged a fee per mile. This fee can range from $.15 to $.30 per mile, which can add up to quite a lot at the end of your lease. If you have a three year lease and you exceed your mileage by 3,000 miles per year at $.20 per mile, that’s an extra $1800 you would owe. By buying your car lease you can apply this money to your buyout as opposed to simply paying it in fees. Do the math to determine if turning in your car makes financial sense.You have excessive wear and tearLease agreements will also have fees for excessive wear and tear. This will vary slightly from dealer to dealer, but typically the following are considered to be excessive wear and tear:Large scratchesBumper damageMismatched colorSanding marksBody damage such as dings and dents that are more than 2 inches in diameterTears to the interior that are more than ½ inchStains to the interiorDepending on the extent of this damage, the dealership may charge you pretty high fees. It might make more sense for you to use that money to buy your car instead of giving it to the dealership in fees.Your car is worth more than the buyout priceSometimes things just make good financial sense. So if your car is worth more than the buyout price, it’s a good idea to buy out your lease. If you like the car and want to keep it, great! If not, you can sell it and make a profit off of it. Check Kelley Blue Book or Edmunds to see what your car is worth before returning your lease.This is much more common now than it was, say, 10 years ago. Thanks to lingering effects of the pandemic, supply chain issues, tariffs, and global trade trends, trade-in values have in many cases increased, making your car potentially worth more than you might realize. Be sure to do your research before turning your leased car back over to the dealership.How does a buyout work with a lease?If you decide that a lease buyout is right for you, there’s good news—it’s actually super easy.Here are the simple steps you need to take to buy out your lease:Contact your leasing company to determine the purchase priceSecure financing for your buyoutContact your insurance company and the DMVCall your leasing company to determine the purchase priceThe first step to buying out your lease is determining exactly what the purchase price will be. The lease buyout price will be calculated as following:The residual value of the carFeesSales taxThe residual value of the car will be listed in your lease agreement. This number is based on your car’s expected depreciation over the life of your loan and is determined before your lease period even begins. It is almost always non-negotiable. It is best to call your leasing company to find out the exact amount a lease buyout will cost you.Secure financing for your buyoutUnless you have enough cash in the bank for the buyout, you will need to secure financing for your lease purchase. Not all lenders work with lease buyouts, so you will need to do your research to find the best lender for your situation. Do your research to compare rates and customer satisfaction ratings when trying to determine the best lender for your buyout.Finding a company that specializes in lease buyouts may be your best option. At Auto Approve, we work with lenders all across the country. That makes it easy to shop around and get the best rates for your car lease buyout. The car loan APRs that you are offered will be based on the current market rates, your credit score, financial history, and income. Be sure that all of these are in order before applying. Select 3-5 lenders to apply with and send in all of your applications in the same fourteen day window–this will ensure that they will all count as one hard inquiry on your credit report. For your applications you will most likely need:A Photo IDYour Vehicle’s InformationProof of Income and Financial HistoryProof of ResidenceProof of InsuranceAfter your offers start coming in you can compare them to see the best rates and terms. Auto Approve can help guide you through this process and help you select the best car lease buyout loan. Contact your insurance company and the DMVWhen you buy out your lease you will need to call your insurance company to alert them that you are purchasing your lease. Leased cars typically have high insurance requirements, so you might be able to reduce your coverage at this point. Additionally you will need to check your state’s DMV to determine how to change the title. If you use Auto Approve, we can help you with this!And that’s it! After you complete the paperwork, your leased car will belong to you officially.That’s how you can buy your leased carBuying your lease can be a great option for a number of reasons. Whether you want to avoid unnecessary fees, don’t want to deal with the hassle of buying a new car, or you just really like your leased car, a car lease buyout can be the answer you are looking for.Buying out your car lease with Auto Approve couldn’t be easier. From filling out applications to handling the DMV paperwork, we’ve got you covered. And with a 96% would-recommend rating on LendingTree, you know you are in good hands. So don’t wait to buy the car you love—get started with Auto Approve today!GET A QUOTE IN 60 SECONDS

Want to know about same lender refinance?Here’s the Quick version.Yes, you can sometimes refinance with your existing lender. Simply get in touch with them and ask if they’ll work with you on a deal based on the new terms you want.Your lender may not agree to your new terms, and it is highly unlikely that they’ll offer you the best deal available to you.Experts strongly recommend that you shop around for other options and get quotes from other lenders to get a better deal.If you’re thinking about using the same lender to avoid the paperwork and hassle of refinancing, use a service like Auto Approve that will connect you to many different lenders and help with the paperwork at no extra cost to you.The Complete Guide to Same Lender Refinance (And Why You Shouldn’t Do It)In this article, you’ll get detailed answers to the following frequently asked questions about refinancing:How many times can you refinance your car with the same bank?Should you refinance with the same lender?How do you refinance a car?Refinancing can sound like a hassle. You know there will be a lot of paperwork involved and you know you are going to spend a lot of time comparing offers. So you are probably wondering “Can I refinance my car with the same lender?”After all, that will make refinancing your car loan much easier and much simpler, won’t it?While that may sound like the easy route to take, you probably shouldn’t refinance your car loan with the same lender. Refinancing your loan will be more impactful if you shop around and compare to ensure that you are getting the best terms possible.Read on to learn more about why you shouldn’t refinance your car loan with the same lender without comparing and shopping around.How many times can you refinance your car with the same bank?Yes, you can refinance your car with the same lender. And you can refinance your car as many times as you would like. However, neither of these things are typically considered to be a good idea.Refinancing with the same lender will not usually get you a good deal on your refinance, and not all lenders will agree to refinance your existing loanRefinancing more than once typically reduces the benefits of refinancing, since penalty payments can start to add up. A second refinance is only a good idea if you have a really good reason (like you need to lower your car payment or you’ll default on the loan, or you’re moving away and want to pay off the car and sell it before you go).Additionally, there are some general guidelines for when you should refinance your car, regardless of which lender you choose.You should wait at least 6 monthsYou can refinance your car loan at any time, so long as the paperwork on your financing is complete (this can take up to 90 days). But experts generally suggest waiting six months before refinancing. This is because it can take between six months and one year for your credit score to bounce back from your financing. Refinancing is most impactful when your credit score has increased, so you want to wait until your score has rebounded from the hard credit inquiries.You should have at least two years remaining on your current loanCar loans are front loaded amortized loans. This means that in the beginning of the loan repayment you are primarily paying back the interest, and as time goes on you pay more and more towards the principal. So the closer you are to the end of your repayment period, the less you are paying in interest, therefore the less money you could potentially save. Having at least two years remaining on your loan will help ensure that you will benefit from refinancing your vehicle.You should make sure you aren’t on the hook for huge prepayment feesCheck your existing loan contract carefully to see if there are any extreme prepayment penalties. These fees may still apply even if you are refinancing with the same lender. If you are unsure, call customer service and have them review your contract with you. Should you refinance with the same lender?If the timing is right, you are probably wondering if you should refinance your car loan with the same lender. And while you technically can, there are a few reasons that should dissuade you.There’s a lot of competition for ratesIn the past, car loan refinancing was done through traditional banks. You were limited by what banks were in your area, and there really weren’t other options for you. But nowadays, there are thousands upon thousands of lenders to choose. From traditional banks to online lenders to credit unions, your options are seemingly endless.All of these options mean one thing: more competition. And more competition means that you can get better car loan rates. By simply refinancing your loan with the same lender, you are ignoring all of the competition out there and narrowing your options.Different lenders will prioritize different aspects of your finances, so you might have better luck with certain lenders depending on your situation. While the APR you are offered will be based in part on your credit score, your debt-to-income ratio, what type of car you are driving, and your credit utilization ratio, the way in which these are considered may vary. While one lender may put the greatest importance on your credit score, another lender may feel that your income is the most important factor. One lender may require that your car be less than 7 years old, while another lender may extend that to 10 years. So depending on your finances and your car, you might have way better luck with one lender as opposed to a different one.There’s room to negotiate feesIf there’s more competition, it gives you a better chance to look around and save in fees. Origination fees can vary significantly between lenders, and having the ability to shop around and compare can save you a lot of money. It can also give you the chance to negotiate with lenders. Some fees you will be able to negotiate, while others you will not. Typically you will be able to negotiate the following:Origination fees (this is essentially the cost of the loan paperwork)Advertising feesShipping feesDealer prep feesMarket adjustment feesOther fees such as the registration fee are non negotiable. But telling new lenders that you are shopping around (and even considering your existing lender) should give you some room to negotiate.How do you refinance a car?Refinancing a car is incredibly easy, especially when you use a company that specializes in refinance, like Auto Approve. Do Your ResearchThe first step to car loan refinance is research. You will ultimately want to apply to three to five lenders for your refinance, so you want to make educated choices. Talk to friends and loved ones to see if they have good recommendations. Read online reviews to see which lenders might be a good fit and who has good customer service. Gather all of this information and then make an informed decision on where to apply. Also make sure that your car is eligible for refinance. Some lenders have requirements about the age and mileage of the cars they refinance. Check–and Double Check–Your CreditYour credit score is one of the most important factors in the car loan APR that you will be offered, so you want to be sure it is in great shape before you even apply. In the months leading up to your refinance be sure to make full, consistent, and on time payments. Try to pay down as much debt as you can and set up autopay on accounts that allow it. Request a copy of your credit report (you can do this three times per year for free) and be sure your report is accurate. If there are any issues or errors, report them immediately to the credit bureau. If your score isn’t better than it was during your initial financing,you might want to put off refinancing until your score has improved.Review Your Current TermsMake sure you are able to leave your current contract without any issues. As we mentioned before, there might be some prepayment penalties that will outweigh any savings.Get Your Documents TogetherGather all documents you will need for your applications. You will most likely need the following to get started:A Photo ID (such as a passport or driver’s license)Your vehicle’s information (may include the bill of sale, VIN number, make, model, and year of your car)Proof of income and financial history (may include pay stubs, banking information, and your credit report)  Proof of residence (such as a mortgage statement, lease agreement, or utility bill. Note that PO boxes are not acceptable as proof of residence)Proof of insuranceScanning all of these documents into one location will make applying easier. Apply and CompareOnce you have your lenders picked out and have all of your documents ready, you are ready to apply. But this is when using a company like Auto Approve really pays off. They can handle all of the applications and paperwork for you (as well as helping you pick which lenders might be best in the first place). And when the offers come in they can help you compare the rates and terms. The most important thing to compare is the car loan APR, but you also want to think about prepayment penalties, fees, and how their customer service is. Sign and SaveAfter comparing all of your offers and selecting the best one for you, all that’s left to do is sign on the dotted line. If  you use Auto Approve for your car loan refinance, we will even handle the DMV paperwork for you. The new lender should handle paying off your previous loan, but be sure there are no additional steps you are required to take.And that’s it! You can see the benefits of refinancing right away.That’s What You Need To Know About Same Lender Auto Refinancing.While you can refinance your car loan with the same lender, you should definitely shop around and compare offers from other lenders.Refinancing your car loan may sound complicated and time consuming, but refinancing with Auto Approve makes the process simple and quick. With just a little preparation and research you could save a lot of money every month. And who couldn’t use a little extra cash in their pockets? So what are you waiting for? Get your free, no-commitment quote from Auto Approve and start saving today!GET A QUOTE IN 60 SECONDS

Looking for ways to save money on groceries? You’re not alone. Lots of people are on the hunt for tricks to spend less this year.Grocery prices are up, and for a wide number of reasons – from supply chain challenges to corporations raising prices to changes in international trade. But the why doesn’t matter when you’re in the check out line – only how to lower your bill.Fortunately, there are many simple ways you can pay less for groceries in 2026, despite higher price tags on many essentials.In this article, we’ve gathered 8 simple tips and tricks you can apply right away to start reducing your grocery store costs.8 Tips For Saving Money at the Grocery StoreWhile not all of these ideas will work for everyone (and there will likely be some things here you’re already doing!), there should be something here for anyone wondering how to save money on groceries in 2026.1. Plan, Plan, PlanThe number one most important thing to do when trying to spend less at the grocery store is plan ahead. Planning allows you to create a budget and stick to it.Make a meal plan for the week and then a grocery list based on that meal plan. Doing this can help avoid unnecessary or splurge purchases and stay on track at the grocery store. Planning for several days in a row can also help ensure you’re getting enough variety, not planning too many expensive items in one week, and not overestimating how much cooking you can handle.Being realistic when planning can help you stay on track. If you know one day will be busy, plan a simple and quick recipe for that day. If you usually get take away several nights a week, choose one night to pick-up pre-made food, or include frozen meals in your planning. Yes, making food from scratch will generally cost less than pre-made or take away options, but you’re allowed to work up to it. It’s ok if you don’t turn into Julia Child overnight – the idea is to make small, sustainable steps toward spending less in the long term!Pro Tip: Finding that your meal plans are still leaving you over budget? The problem might be a too-expensive menu at the foundation. Consider adding more affordable dishes to your recipe rotation.2. Keep Track Of What You HaveBetween 30 and 40 percent of food in the US turns into food waste, including 31 percent at the customer and retail level. That means a lot of us are buying more food than we eat. Obviously, that means there’s room for improvement in how we collectively shop and use the food we buy.The first way to combat food waste is by making sure you know what’s already in your fridge and cabinets. If one dish will only use part of something perishable, make sure your menu for the week uses up the other half of it. If multiple people in the house buy groceries, keep a shared grocery list and update it regularly to avoid double buying. And, to save money, occasionally do an audit – of your fridge, freezer, and dry and canned goods – and make sure to work what you already have into your menu.You’ll pay less at the store, and you might find a new recipe or combination of things you like!3. Buy What You’ll UseOn a similar note, you can avoid food waste (and tossing hard-earned dollars in the trash!) by buying only what you need and know you will use. If you’re someone who (like your humble blog writer) can only really plan 3 or 4 days out before you start getting restless, don’t buy 7 days of groceries knowing you’ll likely deviate from your plans. Buy 3 or 4 days of ingredients and make another trip later in the week. If two smaller trips can work for your schedule, you’ll be more likely to use what you buy – and, as a bonus, your fruit, vegetables, dairy, and proteins will be fresher when you get to them.This also applies to buying in bulk or buying smaller containers of things. Buy what you’ll use. That means, if you know you use a lot of something and you can get it cheaper per unit by buying in bulk, do it! If you know you use only a little of something in the course of a year, buying a smaller package might make sense. While it’s true that buying in bulk usually saves money, when things are tight, if you almost never use balsamic vinegar and just ran out, it’s ok to pay $5 for a small bottle instead of $9 for one twice the size – sometimes holding onto $4 now is more precious than paying one less dollar in six months or a year.Buying 6 giant bottles of olive oil might mean paying less for olive oil by volume, but if it costs $70 that you can’t now use on other things, have you made the right choice for your budget?4. Look Out For DiscountsThis is a simple solution, but no less effective!There are tons of ways to get discounts on food. You can join store membership programs that allow you to collect points or qualify you for member prices. You can shop weekly sales and collect coupons. And you can join programs designed to combat food waste to connect you to stores with excess products or food they think will expire before it sells, like Olio, FlashFood, and Too Good To Go.Leaving a little flexibility or using weekly sale flyers to make your meal plan can help you pay less for your ingredients and meals.Looking for another way to put more money in your pocket?Consider refinancing your vehicle with Auto Approve. Many people are paying more than they need to on their monthly car payment, thanks to dealer markups and volatile interest rates. Discover how much you could save on your monthly car payment in just a few minutes.Get your free quote now.5. Don’t Be Afraid To Get GranularPrice comparing every item you shop might feel maddening at first, but if you’re not putting a lot of thought into the brands you choose or how much of something you buy, now’s a good time to start. While 70 cents here and 30 cents there might seem too small to be worth considering, you can shift your total costs for the year significantly by making those small choices over and over.Sure, sometimes the extra dollar comes with a huge jump in quality, but in many cases, store brands and generic brands are essentially identical to their pricier counterparts. If you have wiggle room, it’s generally best to pick your battles so you never feel like you’re depriving yourself. Financial psychologists suggest that using up too much self control on little things can make you more likely to splurge on something bigger over time.Pro tip: If you go looking, most grocery stores have a scale for customer use in the produce aisle, so if you want to get extra nitpicky, you can start weighing your fruits and vegetables to make sure you stay under budget.6. Branch Out From RoutineAnother way to save money at the grocery store is to look for lower cost options in new places. This can mean trying a vegetable or protein you haven’t made before from your regular store, or trying out new stores. Price comparing your favorite items at competitor stores can help you find deals – and so can branching out to specialty stores. Try visiting local markets that tailor to specific international or regional cuisines, retailers’ cooperatives, or small stores and markets that work directly with local producers. You might find that there are things that cost much less there, and you might find new affordable ingredients that excite you!7. Buy Local & SeasonalOn a similar note, while farmers’ markets have a reputation for organic produce and higher prices, you can sometimes find great deals on produce when dealing directly with the people that grow and harvest it. Keeping track of what’s in season and abundant can give you a clue as to what’s likely to be most affordable.Plus, with prices to import goods from other countries potentially fluctuating, you can avoid sticker shock by keeping track of what’s grown in your area and planning to buy and eat what’s readily available and unaffected by any potential shifts.8. Never Shop Hungry!Last but certainly not least, this is old wisdom, but it holds true. Don’t go to the grocery store hungry! Simply don’t do it! It’s a recipe for coming home with a pile of unplanned snacks and a half baked dinner plan.And Those Are The Best Ways To Save Money on GroceriesNow you know how to save money at the grocery store – all that’s left is to put these tips to work. Did you find something in here that inspired you to get creative with your menu planning and shopping?Get more money for groceries with Auto Approve.If you want a little more wiggle room in your food budget, consider an auto refinance. Auto Approve helps you find the best possible rate for you. Then, once you choose your new loan, we handle the paperwork – it’s easy.It only takes a few minutes to find out how much you can save.Get your free quote now.

Key takeaways: Refinancing can be a smart way to save some money, if it’s right for you given your current loan and financial picture Refinancing the right way means: doing your research, getting your paperwork in order, knowing what you’re looking for, and shopping around to find your best offers Common refinancing mistakes include: being underprepared, and trying to refinance too early or too late Today we are talking all about car loan refinancing—the when, what and why—and what’s considered “the right way” to refinance a loan.Your Guide to Refinancing Your Car Loan The Right WayPrices are up nationwide, with essentials becoming expensive enough that many households are feeling the squeeze of a tighter budget. That means a lot of people are looking to save money. Fortunately, for many vehicle owners, refinancing a car loan is a great way to quickly save some money and make more financial wiggle room.Refinancing can help you secure a lower APR (annual percentage rate), lower monthly payment, or both, especially if:Interest rates have dropped since your originally got your auto loanYour credit or financial picture has improvedYou got your car loan from a dealershipIn 2025, research from TransUnion found that at least 18 million American vehicle owners qualified for a lower rate than they were paying, meaning they were in a good position to save money simply by refinancing.So, How Do You Refinance A Car Loan The Right Way?Refinancing a car the right way is easy!Here’s a quick and easy rundown of how to get the most out of your refinance:Do your researchCheck your creditReview your current contractGather your documentsCompare offersSign and save!Let’s break these steps down.Step #1: Do Your ResearchBeing prepared is the key to getting the most out of refinancing. Make sure you understand how refinancing works and know what benefits you want to get out of it.Research which lenders might be a good fit for you. While you will not have final offers to compare until you actually apply to refinance and get your credit checked, you can get a sense of who has the best rates, get preliminary quotes, and get a sense of how different companies operate to decide whose customer service works best for you. Talk to friends and family to see if they have trusted lenders. And make sure your car is eligible for refinance—some lenders will not refinance cars if they are over ten years or have a lot of miles on them.Step #2: Check Your Credit Your credit score is incredibly important in the refinance process. Request your credit report and make sure your score is in good standing. Be sure that everything is accurate on your report. If there are any inconsistencies or errors, you can petition the credit bureau. If your score is lower than it was during your initial financing, it might be a good idea to put off refinancing until your score is in better standing, but if it’s gone up, all the better!Step #3: Review Your Current ContractLook at your current loan contract and make sure you are aware of any penalties for which you may be responsible. Call your lender directly if you have any questions or want to review any of the fine print. When you compare your new rates, be sure that any savings will outweigh the prepayment penalties.Step #4: Gather Your DocumentsGather all documents you will need for your applications. You’ll want to be able to get offers from several companies in a short period of time to protect your credit.You will most likely need the following to get started:A photo ID (such as a passport or driver’s license)Your vehicle’s information (including the bill of sale, VIN number, make, model, and year of your car)Proof of income and financial history (like pay stubs, banking information, and your credit report)  Proof of residence (such as a mortgage statement, lease agreement, or utility bill)* Proof of insurance*Please note that P.O. boxes are not considered acceptable as proof of residence.Put all of your documents in one secure place. Better yet, scan them all onto your computer so you can easily upload them when you make your applications.Step #5: Apply To A Few Different Lenders And Compare OffersApply to the list of lenders that you shortlisted—or make the process easier by having Auto Approve gather quotes for you from our network of 50+ trusted lenders. When the offers come in, start comparing. The most important thing to compare is the car loan APR, but be sure to take other factors into consideration, like:Prepayment penalties. You can refinance your car multiple times, so keep in mind that there might be another opportunity to refinance. You don’t want to be held to your new loan if a better deal comes along.Fees. Do the lenders charge additional fees? Customer service. What are their current customers saying about their customer service? Are issues quickly resolved, or do people seem unhappy?Step #6: Sign And Start Saving MoneyWhen you decide on the best car refinancing deal, sign on the dotted line and enjoy the benefits of refinancing. (If you use AutoApprove for refinancing, we will even handle the DMV paperwork for you!) The new lender should handle paying off your previous loan, but be sure to check there are no additional steps you are required to take.That’s How You Refinance A Car Loan The Right Way.There are a lot of benefits to car loan refinancing, but the main draw of refinance is saving money. Get started today with a free quote from Auto Approve.GET A QUOTE IN 60 SECONDSFrequently Asked Questions About Refinancing A Vehicle The Right WayStill have more burning questions? Here are the answers to a few refinancing FAQs:What is car loan refinancing?What are the benefits of refinancing a car loan?Is there a wrong way to refinance a car?What Is Car Loan Refinancing?Car loan refinancing is when you pay off your existing car loan with another loan. When you refinance, you should look for a new loan that has a lower car loan APR and/or better terms for your current financial picture.Is There A Benefit To Refinancing A Car Loan?Yes! Key benefits include:Saving money on interestLowering your monthly car paymentChanging other terms (like adding or removing a co-borrower or paying off the loan sooner)Here’s a closer look at a few reasons refinancing your car loan might be a good idea. You Can Save A Lot Of Money In The Long RunBy refinancing your car to a lower car loan APR, you can save a lot of money in interest—hundreds or even thousands of dollars. You Can Reduce Your Monthly PaymentsYou can reduce your monthly car payment in two different ways when you refinance: First, refinancing to a lower APR will result in lower monthly payments. Second, even if you don’t qualify for a drastically lower car loan APR, refinancing your car loan will allow you to choose to repay your principal over a longer period of time, reducing the amount you have to pay every month. A warning: If you extend your loan term, you will end up paying more over the length of the loan. However, if your monthly budget is stretched too thin for comfort, this may be a trade off you want to consider—it’s better than missing a payment and risking losing your vehicle.You Can Add Or Remove A Co BorrowerIf you want to either add someone to your loan or remove someone from your loan, your best option is car refinance. When lenders determine the terms of a loan, they consider the finances of the applicant along with everything else. They are ultimately trying to determine one thing: How likely is this person to repay their loan? If there are two people on a loan, they consider the credit of both applicants. That means, if you want to change the borrowers listed on the loan, you will most likely need to refinance your car loan. There is an upside to this: Removing someone with lower credit can score you a better car loan APR, and adding someone with good credit might help you score you better terms if you’re looking to lower your car payment. Can You Refinance A Car Loan The Wrong Way?In short, yes, there is a wrong way to refinance a car loan. The most common mistakes when refinancing a car loan are:Waiting too longNot checking your credit scoreNot understanding your loan termsNot comparing optionsWaiting Too LongCar refinancing becomes less and less rewarding as you near the end of your loan. This is because refinancing ultimately saves you money by reducing your interest payments, so the less time you have left on your current loan, the more interest you’ve already paid and the less money you can save.Not Checking Your Credit ScoreYour credit score is the most important contributor to the car loan APR and terms that you are offered, so you want to be sure that it is in good standing and that you know how your credit looks relative to when you initially got your financing. It’s always a good idea to keep tabs on your credit to catch any errors added to your credit report or course correct if something you’re doing is negatively affecting your credit. You may want to work to actively improve your score ahead of applying for a refinance or other major financial move to give yourself the most and best options you can.Not Understanding The Terms Of Your Current LoanWhen you refinance, it is critically important to understand the terms of your current loan. This is especially important when it comes to prepayment penalties. Many lenders put prepayment penalty clauses in their contracts. This is meant to dissuade people from leaving their loan early (after all, if you leave your contract early for a better deal, your lender will make less money in interest). So, when you refinance your car loan, you have to be sure that the savings outweigh any prepayment penalty fees. In order to be certain, always do the math to determine how much you can save and how much you will have to pay.Unsure what a word or phrase in your contract means? Use our refinancing glossary to learn more about refinancing.Not Comparing Your OptionsYou should always shop around when looking for refinance rates.Experts suggest applying to four or five different lenders to get a range of car loan APRs and payment terms to pick from. While this can seem daunting, using a company that specializes in refinance, like Auto Approve, can make this process much easier. We handle all applications and paperwork for you, so you only have to fill out your information one time. Then, our refinance experts can help guide you to understand your options.If you do not compare refinance options, you might miss out on your best available offer.

Here’s the short versionMost people don’t know that, when you get your auto loan financing from a dealership, the dealer typically makes a commission on your loan, and that commission is often secured by adding a markup to your loan interest rate.That means, if you got your financing through your dealership, you may actually qualify for a lower rate and lower monthly car payment than what’s on your current loan. Looking for the long version? Find out more about dealership financing, how to check whether your rate is higher than it needs to be, how to get a lower rate, and more frequently asked questions about car dealership financing with this guide.The Complete Guide to Dealership FinancingUnderstanding dealership financing, and especially how interest rate markups work, can save you hundreds or even thousands of dollars over the life of your loan.In this guide, you’ll find:Everything you need to know about dealership car loansHow to know if you got your best available rate for your vehicleHow to get a lower APR (annual percentage rate)How to decide if refinancing makes sense for youFAQs about dealership financingRead on for all the answers to your burning questions about getting your auto loan financing from your car dealership.All about dealership rates on car loansIn this section:What is dealership financing?Do dealerships make money on financing?How do dealership rate markups work?Is dealership financing always a bad idea?What to watch out for (and how to get a better rate)Let’s dive in.What is dealership financing?Dealership financing, sometimes called dealer-arranged financing, is when you get your car loan at the car dealership when you buy a car, instead of separately from a lender of your choice.Dealership financing is almost always indirect financing, meaning you’re not actually borrowing from the dealership and paying them back, you’re getting a loan from a lender through the dealership. The only exception to this is “Buy Here Pay Here” lots, where the dealership is your lender, but they’re generally considered a last resort option and target individuals with bad credit.Do dealerships make money on financing?In short: Yes, they do.The margins on simply selling vehicles tend to be pretty thin, so dealerships make money through their finance office on:Interest rate markupsAdd-on products (extended warranties, GAP insurance, etc.)Lender incentives and commissionsYou’ve probably been asked, "Are you paying cash or financing?" —and if you’ve noticed that there can be pressure to choose financing, there’s a good reason. It’s because added charges and markups like these can add thousands of dollars in profit to a single car deal.However, you are very much allowed to get financing elsewhere to secure a better rate.How do dealership rate markups work?The lender offers a buy rate: the rate you’re approved for based on your credit and finances.The dealership offers a sell rate: the rate they offer you on your loan.The difference between the two is often called the dealer’s reserve.For example:The lender offers you 5.49% APR (buy rate)The dealership gives you a contract where your APR is set at 6.99% (sell rate)The dealership and the lender split the 1.5% difference (dealer’s reserve) as profitLenders typically set a maximum percentage amount for the difference between the buy and sell rate, usually between 2% and 3%.Is dealership financing always a bad idea?Not necessarily! You may be able to get a manufacturer’s promotional rate (like 0% APR offers) through the dealership, and it’s certainly convenient to get the financing done when buying the car. If your credit or financial picture is a little shaky, you may not qualify elsewhere. Or, if you know what rate you might qualify for, you can negotiate with your car dealer—they may be willing to beat or match other rates.What to watch out for (and how to get a better rate)Watch out for offers presented as lower monthly payments that simply extend the loan term: you’ll pay more overall because of the interest paymentsNegotiate on the total cost, not just the monthly rateWalk in with a pre-approval in your back pocket to give you a benchmark for what you should be paying and more leverage in negotiationsHow to know if you got your best rate for your vehicle Most people who got dealership financing are eligible for lower rates. Here are some quick numbers:Analysis by MIT found that 78% of dealership loans carried marked-up interest rates as of 2023Trans Union found that almost a quarter of open auto loans in the U.S. have current loan rates that “exceed the prevailing average APR,” meaning at least 18 million borrowers are eligible for a beneficial refinance right nowExperian’s State of the Automotive Finance Market Report found that the average refinance customer saved 2% on their APR through refinancing as of Q4 2025. In short? The best thing you can do is make sure you know your current APR, then shop around to see if lenders are offering lower rates than you’re currently paying. You can get a quote with a soft credit inquiry to avoid a hit to your credit score, then decide if you want to proceed.How to get a lower APRNow you know that dealership financing typically comes with rate markups. So, how do you get the rate you’re actually eligible for?Before you buy a carGet pre-approved for bank funding before you buy a car, and/or negotiate your rate at the dealership. Remember, you don’t have to take  the first deal they offer. You can negotiate on the rate the same way you’d negotiate on the car price and loan term.If you’ve already got a loanWhile some lenders will renegotiate an existing loan (and it’s always worth asking), if you want to change your loan terms, you’ll probably need to refinance your car.How to decide if refinancing makes sense for youRefinancing is when you pay off your old loan with a new loan. It’s typically done to change some part of the loan terms, like:To get a lower APR To lower your car paymentTo shorten or extend the loan termTo add or remove a co-borrowerRefinancing is generally a good idea if:Your loan is not very new or very close to its endYou’re eligible to lower your rate—because rates have gone down, you got a marked up rate, or your credit or finances have improvedOr you want to make one of the above changes—like paying off the loan sooner or lowering your payment due to budgetary concernsWant to find out if you’re eligible for a better car loan APR? Get a quote from Auto Approve today. It’s free, there’s no commitment and no hard credit check, and it only takes a minute.FAQs about Dealership FinancingStill got more questions? Tl;dr? Here are a few of the most commonly asked questions about dealer-arranged financing.What is dealer reserve?How much is dealer reserve?How common are rate markups?Are dealer rate markups legal?Can you negotiate on your interest rate when buying a car?1. What is dealer reserve?Dealer reserve is the name for the difference between the loan rate a lender approves for you and the actual loan rate your dealership offers you. The extra interest on top of the rate you qualified for is split as profit between the lender and the dealership.2. How much is dealer reserve?A 2023 MIT study found that dealer-arranged loans had an average markup of 1.13%. Caps on dealer reserve are usually around 2 or 2.5%, but vary by lender and loan term.3. How common are rate markups?Analysis by MIT found that 78% of dealership loans carried marked-up interest rates as of 2023.4. Are dealer rate markups legal?Yes, they are generally legal, although they have been heavily scrutinized for lack of transparency, especially with regard to how discretionary markups are applied differently to protected classes (i.e. based on race, gender, religion, national origin, or disability).5. Can you negotiate on your interest rate when buying a car?You can and you should! Your interest rate is negotiable and you do have other options if you’re not offered a good APR.Forgot to negotiate on your APR?Auto Approve has your back. And, when you find a better rate, we’ll even handle the paperwork for you. Get your free quote now.