App Store Google Play
Launch will never send you an email or text message requesting you update your Digital Banking login credentials.   Learn More

6 Reasons To Refinance Your Auto Loan

Refinancing your high rate auto loan can save you big! According to RateGenius’s annual study, Americans saved an average of $989.72 per year when refinancing their car in 2020. This is the largest amount since 2016. 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

July 29, 2021
5 Back-To-School Money Saving Tips
July 13, 2021
How Shutting Off A Personal Line Of Credit Affects Your Credit Score Shutting off a personal line of credit can negatively impact your credit score because it affects your credit utilization ratio. Shutting down a line of credit decreases...
July 12, 2021
How To Spot A Phishing Scam By now, you have probably heard the term “phishing.” In case you haven’t, or if you just need a refresher, a phishing scam occurs when a scam...
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