App Store Google Play
Launch will be closed Thurs., Nov 28th for Thanksgiving   Learn More
Digital Banking Login
Routing #: 263179532
Contact
Digital Banking Login
Open An Account
Book an Appointment
Promotions
Rates
Apply
Make a payment
Skip a payment
June 4, 2021
Print Page A- A+

6 Reasons To Refinance Your Auto Loan

Updated: January 2023

Refinancing your high rate auto loan can save you big! According to RateGenius’s annual study, Americans saved an average of $1,151 per year when refinancing their car in 2021. This is a 16% increase compared to 2020 and the highest amount since their records began in 2013. If you’re looking to refinance for a lower rate then check out these 6 reasons to refinance your auto loan.

1.) Lower Monthly Payments

One of the best benefits to refinancing your auto loan is the possibility of a lower monthly payment. This could mean extra cash in your pocket to use on additional bills and savings. 
jar of coins sitting on table labeled with car | Lower Monthly Payments

2.) Increase/Decrease Your Term

Chalkboard with bar graph and arrow going up | Increase/Decrease Your Term

Refinancing your auto loan opens up the possibility for different terms or re-payment options that better suite your current needs.

3.) Lower Interest Rate

Refinancing your vehicle loan to Launch could lower your Annual Percentage Rate (APR). This means that you will pay less overall interest if the repayment term remains the same, or decreases.

Person writing with pen and car keys setting next to him | Low Interest Rate

4.) Consistent Monthly Payments With A Fixed Rate

rows of stacked coins with miniature red car on top | Consistent Monthly Payments With A Fixed Rate

A fixed rate means that you pay the same amount each month and with Launch you will never get penalized for paying off your loan early.

5.) Easy Payment Options Through Digital Banking

When you refinance with Launch, paying your monthly car payment becomes easier! You can connect your preferred payment method to your loan account through digital banking.

hand typing on computer with sun shining in window | Easy Payment Options

6.) In-House Refinancing

woman holding keys outside of car window | In-House Refinancing

Launch offers in-house financing and refinancing. If you have questions about your loan, call Launch for answers.

Related Posts

February 22, 2024
Smart Ways to Use Your Tax Refund If you're expecting a tax refund this year, consider smart ways to use your tax refund so you can set yourself up for financial success.
Continue reading Smart Ways to Use Your Tax Refund
January 26, 2024
Watch Out for These Valentine’s Day Scams As Valentine's Day approaches, so does the number of online scams. We dive into the common scams you should look out for in February.
Continue reading Watch Out for These Valentine’s Day Scams
December 26, 2023
Goal Setting Strategies For the New Year Whether your goal is personal development, career advancement, or a healthier lifestyle, effective goal setting is the key to success.
Continue reading Goal Setting Strategies For the New Year
Visit any branch location to open your account. For questions call 321-455-9400 (inside Brevard) or 800-662-5257 (outside Brevard).
Back to top