DRIVERS may land the car of their dreams only to find out it has a monthly payment that’s too expensive.
But finance expert has now Milan Singh posted a TikTok showing how you can quickly refinance your vehicle with Auto Approve.
Auto Approve is designed to help you get a lower monthly car payment, acquire a lower interest rate—or both.
Milan says: “On average, they’ve [Auto Approve] helped people save $148 per month.”
Milan adds that the best part about Auto Approve is that the platform is entirely free to use.
You’ll begin using Auto Approve by filling out some information about you and your current car loan.
Auto Approve will advocate for you by finding you the best available rate.
Some refinancing platforms hike prices to receive extra profit—but Auto Approve always gives you exactly what the lender is passing onto you.
Milan writes that when you sign up and refinance through Auto Approve using his link, Auto Approve will send you a $100 cash bonus for a limited time.
Milan’s Auto Approve tip arrives as new car prices are up 12.6% from last year and used car prices 16.1%.
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The Federal Reserve’s recent interest hike of .75 percentage points adds to consumers’ pain.
The Federal Reserve mentioned that another hike might arrive at its July meeting, CNBC reports.
Drivers are now paying an average of $656 per month for new cars financed at 5.1% over 70.5 months, according to CNBC.
Used cars aren’t far behind, with average monthly rates of $546 at 8.2% for 70.2 months.