6 Tips for Lowering a Car Payment
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A car payment represents a huge chunk of the monthly budget
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It’s important to be strategic about this type of debt.
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Tips for Lowering a Car Payment
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Large Down Payment
A larger car down payment lowers the overall size of your auto loan. You’ll have a lower car payment because your principal balance is smaller.
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Refinance for a Lower Interest Rate
A lower interest rate could reduce your monthly payment if you keep the same loan term.
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Buy or Trade In for a Less Expensive Car
The average new car costs $41,000 but that doesn’t mean you have to spend that much.
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