Sometimes you need to have some extra money, or you need to lower your car payment. One of the ways to do it is to refinance your car. Probably the easiest one on the list. If the car is too much, you can sell or trade your car in for something cheaper. Leasing a car is also another option. It will have a lower payment, and you will get to trade your car in for a newer one in the future.

Key Takeaways:

  • Refinancing your car is one way to lower your car payment
  • Leasing a car will lower you payment and you can get a newer car for cheaper in the future.
  • If you have a lender speak with them. They may have ways to help lower your payment.

“Refinancing allows you to replace your current loan with a new one and hopefully lower your car payment in the process. You may qualify for a lower interest rate — especially with a record of on-time payments — and be able to extend your loan term or both, enabling you to reduce your monthly payment.”

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