
Pros and cons of refinancing a car: Is it right for you?
Refinancing your car loan can save hundreds — if not thousands — in interest. But it comes with some drawbacks.
Rebecca Betterton is a writer for Bankrate who has been reporting on auto loans since 2021. Through her writing, Rebecca aims to provide clarity and accessibility to the automotive loans industry as the cost to finance new and used vehicles continues to climb due to steep inflation.
She specializes in assisting readers in navigating the ins and outs of securely borrowing money to purchase a car, but recently widened her scope to cover personal loans and other debt topics. Prior to her time at Bankrate, she was a social media reporter and copywriter.
When Rebecca isn’t researching recent trends in the world of personal finance, she is an avid runner and a lover of interior design.
Rebecca understands the anxiety that comes with heading to a dealership. She is passionate about empowering readers to make informed financial decisions in the showroom through focused advice and guidance. Outside of that, she has spent the last year researching EV financing and trends to make it more accessible for all sorts of drivers.
Refinancing your car loan can save hundreds — if not thousands — in interest. But it comes with some drawbacks.
Find out what you need to research ahead of time, and how to stay one step ahead of the dealer.
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Borrowers can finance for higher than usual amounts and benefit from fast funding. Still, the product is not available in every state.
Axos Bank’s unsecured personal loans offer $5,000 to $50,000 for borrowers with good credit. It offers fast funding but charges an origination fee.
Find the right auto loan for your life with our list of the best. Secure your loan online, refinance your existing loan, and more with Bankrate's top picks.
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