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Want a lower car payment? Refinance your auto loan If you bought your car and paid more than 3% in interest, you should look at it as an option to save you money monthly & for the life of the loan. Author: Tanya Rivera, WTOL CBS Published: 4:06 PM EDT May 10, 2021 Updated: 6:00 PM EDT May 10, 2021 GREENSBORO, N.C. The place you call home is costly. The mortgage or rent is your biggest bill each month. Usually, your second biggest payment is likely your car. While refinancing a home to save money is common, most folks don t realize you can refinance your car loan too. ....