Tech

I’m a money expert – how to cut your monthly car payment by $148

DRIVERS can land the car of their dreams only to make a monthly payment that is too expensive.

But Milan Singh posted a TikTok showing how to quickly refinance your vehicle with Auto Approve.

Milan offers its viewers an easy way to refinance their car loan

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Milan offers its viewers an easy way to refinance their car loanPhoto credit: Tiktok

Auto Approve is designed to help you get a lower monthly car payment, a lower interest rate — or both.

Milan says: “On average, yes [Auto Approve] Helped people save $148 a month.”

Milan adds that the best thing about Auto Approve is that the platform is completely free to use.

You start using Auto Approve by filling out some information about yourself and your current car loan.

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Auto Approve will stand up for you by finding you the best available rate.

Some refinancing platforms raise prices to make extra profit – but Auto Approve always gives you exactly what the lender is passing on to you.

Milan writes that if you sign up and refinance through Auto Approve through his link, Auto Approve will send you a $100 cash bonus for a limited time.

Milan’s Auto Approve tip comes as new car prices are up 12.6% year-on-year and used car prices are up 16.1%.

The Federal Reserve’s latest rate hike of 0.75 percentage point adds to consumer pain.

The Federal Reserve mentioned another rate hike could come at its July meeting, CNBC reports.

According to CNBC, drivers are now paying an average of $656 per month for new vehicles financed at 5.1% over 70.5 months.

Used cars aren’t far behind, with average monthly rates of $546 at 8.2% for 70.2 months.

Milan talks about Auto Approve on TikTok

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Milan talks about Auto Approve on TikTokPhoto credit: Tiktok

https://www.the-sun.com/motors/5626786/lower-your-monthly-car-payment/ I’m a money expert – how to cut your monthly car payment by $148

Chris Barrese

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