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Looking for ways to save money on groceries? You’re not alone. Lots of people are on the hunt for tricks to spend less this year.Grocery prices are up, and for a wide number of reasons – from supply chain challenges to corporations raising prices to changes in international trade. But the why doesn’t matter when you’re in the check out line – only how to lower your bill.Fortunately, there are many simple ways you can pay less for groceries in 2026, despite higher price tags on many essentials.In this article, we’ve gathered 8 simple tips and tricks you can apply right away to start reducing your grocery store costs.8 Tips For Saving Money at the Grocery StoreWhile not all of these ideas will work for everyone (and there will likely be some things here you’re already doing!), there should be something here for anyone wondering how to save money on groceries in 2026.1. Plan, Plan, PlanThe number one most important thing to do when trying to spend less at the grocery store is plan ahead. Planning allows you to create a budget and stick to it.Make a meal plan for the week and then a grocery list based on that meal plan. Doing this can help avoid unnecessary or splurge purchases and stay on track at the grocery store. Planning for several days in a row can also help ensure you’re getting enough variety, not planning too many expensive items in one week, and not overestimating how much cooking you can handle.Being realistic when planning can help you stay on track. If you know one day will be busy, plan a simple and quick recipe for that day. If you usually get take away several nights a week, choose one night to pick-up pre-made food, or include frozen meals in your planning. Yes, making food from scratch will generally cost less than pre-made or take away options, but you’re allowed to work up to it. It’s ok if you don’t turn into Julia Child overnight – the idea is to make small, sustainable steps toward spending less in the long term!Pro Tip: Finding that your meal plans are still leaving you over budget? The problem might be a too-expensive menu at the foundation. Consider adding more affordable dishes to your recipe rotation.2. Keep Track Of What You HaveBetween 30 and 40 percent of food in the US turns into food waste, including 31 percent at the customer and retail level. That means a lot of us are buying more food than we eat. Obviously, that means there’s room for improvement in how we collectively shop and use the food we buy.The first way to combat food waste is by making sure you know what’s already in your fridge and cabinets. If one dish will only use part of something perishable, make sure your menu for the week uses up the other half of it. If multiple people in the house buy groceries, keep a shared grocery list and update it regularly to avoid double buying. And, to save money, occasionally do an audit – of your fridge, freezer, and dry and canned goods – and make sure to work what you already have into your menu.You’ll pay less at the store, and you might find a new recipe or combination of things you like!3. Buy What You’ll UseOn a similar note, you can avoid food waste (and tossing hard-earned dollars in the trash!) by buying only what you need and know you will use. If you’re someone who (like your humble blog writer) can only really plan 3 or 4 days out before you start getting restless, don’t buy 7 days of groceries knowing you’ll likely deviate from your plans. Buy 3 or 4 days of ingredients and make another trip later in the week. If two smaller trips can work for your schedule, you’ll be more likely to use what you buy – and, as a bonus, your fruit, vegetables, dairy, and proteins will be fresher when you get to them.This also applies to buying in bulk or buying smaller containers of things. Buy what you’ll use. That means, if you know you use a lot of something and you can get it cheaper per unit by buying in bulk, do it! If you know you use only a little of something in the course of a year, buying a smaller package might make sense. While it’s true that buying in bulk usually saves money, when things are tight, if you almost never use balsamic vinegar and just ran out, it’s ok to pay $5 for a small bottle instead of $9 for one twice the size – sometimes holding onto $4 now is more precious than paying one less dollar in six months or a year.Buying 6 giant bottles of olive oil might mean paying less for olive oil by volume, but if it costs $70 that you can’t now use on other things, have you made the right choice for your budget?4. Look Out For DiscountsThis is a simple solution, but no less effective!There are tons of ways to get discounts on food. You can join store membership programs that allow you to collect points or qualify you for member prices. You can shop weekly sales and collect coupons. And you can join programs designed to combat food waste to connect you to stores with excess products or food they think will expire before it sells, like Olio, FlashFood, and Too Good To Go.Leaving a little flexibility or using weekly sale flyers to make your meal plan can help you pay less for your ingredients and meals.Looking for another way to put more money in your pocket?Consider refinancing your vehicle with Auto Approve. Many people are paying more than they need to on their monthly car payment, thanks to dealer markups and volatile interest rates. Discover how much you could save on your monthly car payment in just a few minutes.Get your free quote now.5. Don’t Be Afraid To Get GranularPrice comparing every item you shop might feel maddening at first, but if you’re not putting a lot of thought into the brands you choose or how much of something you buy, now’s a good time to start. While 70 cents here and 30 cents there might seem too small to be worth considering, you can shift your total costs for the year significantly by making those small choices over and over.Sure, sometimes the extra dollar comes with a huge jump in quality, but in many cases, store brands and generic brands are essentially identical to their pricier counterparts. If you have wiggle room, it’s generally best to pick your battles so you never feel like you’re depriving yourself. Financial psychologists suggest that using up too much self control on little things can make you more likely to splurge on something bigger over time.Pro tip: If you go looking, most grocery stores have a scale for customer use in the produce aisle, so if you want to get extra nitpicky, you can start weighing your fruits and vegetables to make sure you stay under budget.6. Branch Out From RoutineAnother way to save money at the grocery store is to look for lower cost options in new places. This can mean trying a vegetable or protein you haven’t made before from your regular store, or trying out new stores. Price comparing your favorite items at competitor stores can help you find deals – and so can branching out to specialty stores. Try visiting local markets that tailor to specific international or regional cuisines, retailers’ cooperatives, or small stores and markets that work directly with local producers. You might find that there are things that cost much less there, and you might find new affordable ingredients that excite you!7. Buy Local & SeasonalOn a similar note, while farmers’ markets have a reputation for organic produce and higher prices, you can sometimes find great deals on produce when dealing directly with the people that grow and harvest it. Keeping track of what’s in season and abundant can give you a clue as to what’s likely to be most affordable.Plus, with prices to import goods from other countries potentially fluctuating, you can avoid sticker shock by keeping track of what’s grown in your area and planning to buy and eat what’s readily available and unaffected by any potential shifts.8. Never Shop Hungry!Last but certainly not least, this is old wisdom, but it holds true. Don’t go to the grocery store hungry! Simply don’t do it! It’s a recipe for coming home with a pile of unplanned snacks and a half baked dinner plan.And Those Are The Best Ways To Save Money on GroceriesNow you know how to save money at the grocery store – all that’s left is to put these tips to work. Did you find something in here that inspired you to get creative with your menu planning and shopping?Get more money for groceries with Auto Approve.If you want a little more wiggle room in your food budget, consider an auto refinance. Auto Approve helps you find the best possible rate for you. Then, once you choose your new loan, we handle the paperwork – it’s easy.It only takes a few minutes to find out how much you can save.Get your free quote now.

Here’s the short versionMost people don’t know that, when you get your auto loan financing from a dealership, the dealer typically makes a commission on your loan, and that commission is often secured by adding a markup to your loan interest rate.That means, if you got your financing through your dealership, you may actually qualify for a lower rate and lower monthly car payment than what’s on your current loan. Looking for the long version? Find out more about dealership financing, how to check whether your rate is higher than it needs to be, how to get a lower rate, and more frequently asked questions about car dealership financing with this guide.The Complete Guide to Dealership FinancingUnderstanding dealership financing, and especially how interest rate markups work, can save you hundreds or even thousands of dollars over the life of your loan.In this guide, you’ll find:Everything you need to know about dealership car loansHow to know if you got your best available rate for your vehicleHow to get a lower APR (annual percentage rate)How to decide if refinancing makes sense for youFAQs about dealership financingRead on for all the answers to your burning questions about getting your auto loan financing from your car dealership.All about dealership rates on car loansIn this section:What is dealership financing?Do dealerships make money on financing?How do dealership rate markups work?Is dealership financing always a bad idea?What to watch out for (and how to get a better rate)Let’s dive in.What is dealership financing?Dealership financing, sometimes called dealer-arranged financing, is when you get your car loan at the car dealership when you buy a car, instead of separately from a lender of your choice.Dealership financing is almost always indirect financing, meaning you’re not actually borrowing from the dealership and paying them back, you’re getting a loan from a lender through the dealership. The only exception to this is “Buy Here Pay Here” lots, where the dealership is your lender, but they’re generally considered a last resort option and target individuals with bad credit.Do dealerships make money on financing?In short: Yes, they do.The margins on simply selling vehicles tend to be pretty thin, so dealerships make money through their finance office on:Interest rate markupsAdd-on products (extended warranties, GAP insurance, etc.)Lender incentives and commissionsYou’ve probably been asked, "Are you paying cash or financing?" —and if you’ve noticed that there can be pressure to choose financing, there’s a good reason. It’s because added charges and markups like these can add thousands of dollars in profit to a single car deal.However, you are very much allowed to get financing elsewhere to secure a better rate.How do dealership rate markups work?The lender offers a buy rate: the rate you’re approved for based on your credit and finances.The dealership offers a sell rate: the rate they offer you on your loan.The difference between the two is often called the dealer’s reserve.For example:The lender offers you 5.49% APR (buy rate)The dealership gives you a contract where your APR is set at 6.99% (sell rate)The dealership and the lender split the 1.5% difference (dealer’s reserve) as profitLenders typically set a maximum percentage amount for the difference between the buy and sell rate, usually between 2% and 3%.Is dealership financing always a bad idea?Not necessarily! You may be able to get a manufacturer’s promotional rate (like 0% APR offers) through the dealership, and it’s certainly convenient to get the financing done when buying the car. If your credit or financial picture is a little shaky, you may not qualify elsewhere. Or, if you know what rate you might qualify for, you can negotiate with your car dealer—they may be willing to beat or match other rates.What to watch out for (and how to get a better rate)Watch out for offers presented as lower monthly payments that simply extend the loan term: you’ll pay more overall because of the interest paymentsNegotiate on the total cost, not just the monthly rateWalk in with a pre-approval in your back pocket to give you a benchmark for what you should be paying and more leverage in negotiationsHow to know if you got your best rate for your vehicle Most people who got dealership financing are eligible for lower rates. Here are some quick numbers:Analysis by MIT found that 78% of dealership loans carried marked-up interest rates as of 2023Trans Union found that almost a quarter of open auto loans in the U.S. have current loan rates that “exceed the prevailing average APR,” meaning at least 18 million borrowers are eligible for a beneficial refinance right nowExperian’s State of the Automotive Finance Market Report found that the average refinance customer saved 2% on their APR through refinancing as of Q4 2025. In short? The best thing you can do is make sure you know your current APR, then shop around to see if lenders are offering lower rates than you’re currently paying. You can get a quote with a soft credit inquiry to avoid a hit to your credit score, then decide if you want to proceed.How to get a lower APRNow you know that dealership financing typically comes with rate markups. So, how do you get the rate you’re actually eligible for?Before you buy a carGet pre-approved for bank funding before you buy a car, and/or negotiate your rate at the dealership. Remember, you don’t have to take  the first deal they offer. You can negotiate on the rate the same way you’d negotiate on the car price and loan term.If you’ve already got a loanWhile some lenders will renegotiate an existing loan (and it’s always worth asking), if you want to change your loan terms, you’ll probably need to refinance your car.How to decide if refinancing makes sense for youRefinancing is when you pay off your old loan with a new loan. It’s typically done to change some part of the loan terms, like:To get a lower APR To lower your car paymentTo shorten or extend the loan termTo add or remove a co-borrowerRefinancing is generally a good idea if:Your loan is not very new or very close to its endYou’re eligible to lower your rate—because rates have gone down, you got a marked up rate, or your credit or finances have improvedOr you want to make one of the above changes—like paying off the loan sooner or lowering your payment due to budgetary concernsWant to find out if you’re eligible for a better car loan APR? Get a quote from Auto Approve today. It’s free, there’s no commitment and no hard credit check, and it only takes a minute.FAQs about Dealership FinancingStill got more questions? Tl;dr? Here are a few of the most commonly asked questions about dealer-arranged financing.What is dealer reserve?How much is dealer reserve?How common are rate markups?Are dealer rate markups legal?Can you negotiate on your interest rate when buying a car?1. What is dealer reserve?Dealer reserve is the name for the difference between the loan rate a lender approves for you and the actual loan rate your dealership offers you. The extra interest on top of the rate you qualified for is split as profit between the lender and the dealership.2. How much is dealer reserve?A 2023 MIT study found that dealer-arranged loans had an average markup of 1.13%. Caps on dealer reserve are usually around 2 or 2.5%, but vary by lender and loan term.3. How common are rate markups?Analysis by MIT found that 78% of dealership loans carried marked-up interest rates as of 2023.4. Are dealer rate markups legal?Yes, they are generally legal, although they have been heavily scrutinized for lack of transparency, especially with regard to how discretionary markups are applied differently to protected classes (i.e. based on race, gender, religion, national origin, or disability).5. Can you negotiate on your interest rate when buying a car?You can and you should! Your interest rate is negotiable and you do have other options if you’re not offered a good APR.Forgot to negotiate on your APR?Auto Approve has your back. And, when you find a better rate, we’ll even handle the paperwork for you. Get your free quote now.

Spring is finally here – and so is spring cleaning, including for your vehicle. Looking for car cleaning tips for your spring cleaning routine?Here’s the short version of your car spring cleaning checklist:Gather car interior cleaning essentials, like:VacuumToothbrushMicrofiber clothsFoam glass cleanerInterior cleanerGather car exterior cleaning essentials, like:Car soapMicrofiber mitt & clothsClean your car thoroughly and in order:Pick the right time and prep accordinglyDeclutter and vacuum interiorClean dash, windows, and upholsteryReplace essentialsHose down the exteriorWash in sections using 2 bucket methodClean wheels and tiresRinse and dryReview our additional car cleaning tips for the best possible outcome!How to clean your car is something every vehicle owner should know. Taking the time to clean your car at home is much more effective than a retail car wash, not to mention less expensive. So roll up your sleeves and break out the hose for a car spring cleaning that will leave your vehicle fresh and shiny as new.Everything You Need To Know To Spring Clean Your CarSpring is a great time to get into all of the nitty gritty car cleaning that might fall by the wayside through the year. And doing it yourself can help you save money, especially at a time when a lot of households are on a budget.In this guide, you’ll find:A breakdown of interior and exterior cleaning essentialsThe steps to thoroughly clean your vehicleTips for your best possible car cleaning Interior Car Cleaning Kit EssentialsWhat is the best way to clean the interior of a car? When it comes to your car’s interior, you may need a few more things to get it into tip-top shape, but you most likely have all of these things in your house already. VacuumA vacuum is essential for cleaning floor mats, car seats, and underneath seats.ToothbrushRunning a new toothbrush along the dashboard can help you find collected debris and get dust out of hard to reach places.Microfiber ClothsUsing a microfiber cloth with an interior cleaner (see below) can help clean, polish, and protect your interior.Interior CleanerMost dashboards are made of plastic (although high end models may use wood), so there are several options when it comes to the best cleaner. Find a cleaner that will not only clean but protect your interior as well. Consider the scent, cost, and reviews of effectiveness before purchasing. Foam Glass CleanerA foam glass cleaner such as Invisible Glass does not drip like other liquid glass cleaners, resulting in a clearer finish with less streaks.Exterior Car Cleaning Kit EssentialsWhen looking through the car wash aisle, there may seem like an endless number of products at your disposal. You may find yourself asking “what is the best thing to use to clean a car?” The truth is, you only need a few products to get your car squeaky clean. For the exterior, a simple car cleaning kit that includes quality car soap, a car washing mitt, and several microfiber cloths will serve you well.Car SoapWhile it is acceptable to use dish soap to wash your car, experts recommend using a specialty automotive soap instead. Dish soaps can actually strip the wax off of your car’s exterior and dull the finish. Automotive soap is designed specifically for automotive paint so it won’t cause any damage.Microfiber MittBe sure to use a microfiber mitt instead of a sponge when washing your car. Microfiber is much more gentle on paint than traditional sponges, which can trap dirt and scratch the paint. Microfibers have long and porous strands that help lift the dirt off of your car and avoid scratching.Microfiber Cloths Drying your car with a microfiber cloth will help minimize water spots and streaks, giving it a shine and polished look that you can’t get with air drying alone. Spring Clean Your Finances By Lowering Your Car Payment with Auto Approve. Most people are overpaying on their auto loans. Refinancing your car loan could save you thousands. But don’t just take our word for it…Get a free quote to see how much you could save.What Is The Best Way To Wash Your Car?Follow these steps for the ultimate car spring cleaning.Step 1: Choose The Right Time And PlaceWashing your car when the sun is shining bright and there is no shade will make your job much harder. Your car will dry much quicker in the direct sun, leaving streaks and water spots. Park in the shade or wash your car in the morning or evening when the sun isn’t glaring to give yourself the best results.Step 2: Gather Your Supplies (And Prepare To Get Wet)Preparation is key for an effective car cleaning. Gather your car cleaning kit and dress appropriately in flip flops and clothes that can (and will) get wet.Step 3: Declutter And Vacuum The InteriorA good first step is to take everything out of your car, from trash on the floor to your emergency kit to your floor mats. Vacuum the carpets, seats, and every nook and cranny that the hose can fit. Vacuum and wipe down your floor mats outside of the car.Step 4: Clean The Interior Dash, Windows, And Upholstery (If Needed)Use a dry, new toothbrush to clean dirt out of hard to reach places. Brushing textured plastic can help loosen dirt that is stuck in the grooves. Then, use an automotive interior cleaner and a microfiber cloth to clean and polish the dashboard, center console, and the door panels. After the plastic is cleaned, use a foam glass cleaner and microfiber cloth to clean all glass, including the windows, windshield, sunroof, moonroof, and mirrors. Then vacuum your seats and any other upholstered surfaces using a small handheld vacuum or attachment to ensure you can get into all your vehicles nooks and crannies.Once your seats have been vacuumed, assess if there are any areas that need spot cleaning and use an appropriate cleaning solution.Step 5: Replace Mats And Personal ItemsPut everything back where it should be, making note that your emergency kit has everything you may need in the future. Step 6: Hose The Car DownOnce the car interior cleaning is done, it’s time to move on to the exterior. Hose down the entire car from top to bottom, including the wheels and wheel wells.Step 7: Use The Two Bucket Method To Wash Your CarFill two large buckets with water and put your soap in one while leaving the other bucket with regular water. Starting at the top of the car and working your way down, use a car cleaning mitt to lather the car. Every now and then, rinse off your mitt in the clear water before reapplying more soap. Break your car down into sections (i.e. roof, windshield, hood, front driver’s side panel, etc) and rinse each section off after thoroughly cleaning it. This will help ensure that an area does not dry with soapy residue.Step 8: Clean Your Wheels And TiresAfter washing the body of the car, it’s time to focus on the wheels and tires. You can use the same mitt, rinsing often in the clean water, but may find that a toothbrush works best for getting in between the spokes of the wheel.Step 9: Rinse And DryHose down the car one final time and use a microfiber towel to dry off the car section by section. This will give your car a polished look and get rid of any water marks or streaks.Top Car Cleaning TipsGo the extra mile with these cleaning tips for your vehicle. Please note that not all tips will apply to all vehicle makes and models, so be aware of any elements of your unique vehicle that might make some cleaning applications ill-advised or not applicable. Always test new products on a  small, less visible area. Vehicle Interior Cleaning Tips 1. Pick the air freshener that works for you (if any).Some air fresheners can be overwhelming. Experts recommend keeping a container of black tea in your car to help absorb bad odors and keep your car smelling fresh without the strong scent.You can also make a DIY air freshener by mixing your favorite essential oil with baking soda and leaving it in the car. The baking soda will absorb bad odors while the essential oils keep your car smelling nice.2. Got mess? Go beyond the vacuum.For a deep interior clean, try renting a steam cleaner. They are incredibly effective at removing stains and getting your carpets and seats thoroughly clean.3. Take care of your leather surfaces. If you have leather seats, use a small amount of olive oil to condition the leather. This will help keep the leather moisturized and protect it from fading or cracking in the sun.4. Make maintenance simple.Keep interior car cleaning wipes in your glove compartment to help maintain a clean car year round.Vehicle Exterior Cleaning Tips 1. Use sweeping motions to wash.While washing and drying your car, use long, sweeping motions rather than circular motions. This will help ensure there are no circular drying marks. 2. Reduce your hose pressure.Use a low pressure setting on your hose to avoid spraying soap and dirt to other parts of the car. This will also decrease the amount of direct pressure on the car (which can be bad for the body and for the paint)3. Check your exterior for stubborn sticky substances.Use a small amount of concentrated soap directly on your headlights and bumper to remove stubborn bug residue, tar, bird poop, or tree sap.4. Gently buff headlights with toothpaste.Cleaning your headlights with a small amount of toothpaste will help restore their clarity. Simply rub a small amount on a paper towel and buff it onto each headlight.5. Use dedicated cloths for different tasks.Use a separate cloth entirely for the glass area. This will help avoid scratches on the glass from dirt that may get trapped while washing the body.6. Consider a waterproof coating.Apply Rain-X to your windshield and windows. The coating helps repel water, reducing the need for car wipers. Try These Tips To Spring Clean Your Car And Get A Fresh Start This Season.Giving your car a deep clean this spring can serve as a great reset for your and your car. It will also help you keep your car clean in the coming months. No one wants a car with old odors in the summer sun!Another great way to reset this spring is by refinancing your car loan with Auto Approve. Get your free, no strings attached quote from Auto Approve today and find out how much money you could be saving!Get your free quote now.

Here’s the short answer.Auto Approve is using artificial intelligence to improve the consumer experience in several key ways: Auto Approve’s proprietary NOVA system makes better loan matches faster Once an offer is accepted, the proprietary AVA platform reduces paperwork processing times And the VERA quality assurance program is leveraged by customer service to ensure compliance and service quality throughout the refinance process Read on for a more in depth look at each system and how they’re being leveraged for a better refinance. How AI Is Changing Auto LoansAuto Approve is at the vanguard of a shift in the multi-billion dollar auto refinance industry, leveraging AI to make better use of existing data.In this guide, we’ll cover:Auto Approve’s unique dataset NOVA (Network Offer Validation and Allocation)AVA (Automated Verification Assistant)VERA (Verification and Experience Review Automation)The future of AI in refinanceWhy it mattersAuto Approve’s decade of dataWith over $5.5 billion in funded auto loans across more than 180,000 refinances, Auto Approve's AI capabilities are built on a proprietary dataset including ten years of lender decisions, loan performance history, customer documents, and call recordings across more than one million applications. This data trains and refines NOVA, AVA, and the company's broader AI systems — and it compounds with every new loan.“Every loan we process makes the next one smarter,” said Jordan Batt, CEO of Auto Approve. “What sets us apart isn’t just the implementation of AI. It’s the data underneath it. We’re training our systems on nearly a decade of auto refinancing outcomes. That’s something you can’t shortcut.”NOVA (Network Offer Validation and Allocation)In short: Smarter loan matching for borrowers.Auto Approve’s proprietary Network Offer Validation and Allocation (NOVA) system analyzes each borrower’s credit profile, vehicle, and loan details against the lending criteria of more than 50 partner institutions to surface the best offers available in real time. NOVA can continuously learn from shifting borrower behavior, credit conditions, and trends in loans funded. The result for consumers: 50% of applicants can now be matched with a refinance loan offer in one click. No additional input required, and no shopping from lender to lender.AVA (Automated Verification Assistant)In short: Faster, more accurate loan processing. Once a borrower accepts an offer, Auto Approve’s proprietary Automated Verification Assistant (AVA) platform takes over the paperwork. AVA uses AI to verify, classify, and process the documents required to fund a loan, reducing processing times by at least a third, getting borrowers to their closing faster. AVA went live in Q1 2026 and represents the company’s investment in removing friction from the auto refinancing process for consumers and lenders. VERA (Verification and Experience Review Automation)In short: AI-powered quality assurance. Auto Approve's Verification and Experience Review Automation (VERA) system uses AI to monitor 100% of calls in which a customer gives consent to ensure compliance, script adherence, and service quality. This solves a common problem in the industry, where a customer may get a different outcome depending on their representative. Auto Approve ensures that every borrower gets a more consistent, higher-quality refinance experience.In addition, Auto Approve has deployed AI-powered agents that simulate real customer interactions, allowing new hires to build skills in realistic scenarios before ever speaking with a live borrower. The result: onboarding time has been cut in half without compromising the customer experience. The future of artificial intelligence in refinanceThese systems are only the beginning of what AI can do to help ensure better outcomes and easier processes for borrowers. As the world of refinance looks to the future, solutions could:Increase fairness in lending opportunitiesImprove lending outcomes by making better matches through dataIdentify good refinance candidates that may previously have been overlooked or rejectedMake refinance available on any schedule through AI-enhanced customer serviceContinue refining enhancements through machine learning Why Auto Approve’s AI mattersMortgages, banking, and the automotive sector have all seen productivity growth with the implementation of AI, and refinance companies like Auto Approve are following close behind, leveraging proprietary data and technology to make refinancing simpler, faster, and more efficient.According to Experian’s State of the Automotive Finance Market Report, the average refinance customer saved 2% on their APR through refinancing as of Q4 2025. However, not everyone who’s eligible to refinance has been taking advantage of the cost saving measure. 80% of borrowers have never refinanced their vehicle, even when eligible for a lower rate. And recent research from Trans Union found that almost a quarter of open auto loans in the U.S. have current loan rates that “exceed the prevailing average APR,” meaning roughly 18 million borrowers are good candidates for refinance right now, if not more.Automotive refinancing is seeing substantial growth, and that growth is projected to continue. American auto loan debt is high, and interest rates have been elevated in the past several years. The refinance industry is perfectly positioned to ease economic stress caused by these combined factors. And thoughtfully deployed AI should make that higher volume of applications faster to process without loss of quality or attention.Are you one of the millions that could save on your auto loan?Check if you may be eligible to lower your car payment in less than a minute. Getting a quote is free and fast, with no commitment or hard credit pull required.Get started now.

Here’s the short answer: For most people, a 2-3 year lease will be the ideal term length. This is the most common amount of time to lease a car. Shorter and long term leases are available, but short term leases tend to be expensive, and long term leases remove some of the benefits of leasing rather than buying. In this guide, you’ll learn everything you need to know about lease terms and how you can decide what is right for you.Your complete guide to car lease termsRead on for the answers to the following frequently asked questions about lease terms:What is a lease term?What lease term should I choose?What happens at the end of a car lease?What Is A Lease Term?When you lease a car, you are essentially renting the car from the dealership, and the lease term is the amount of time that you agree to rent the car for. Lease term overview:Some dealers offer short term leases, which can be 3 month, 6 month, 9 month, or 12 month lease terms. On the other end of the spectrum, there are longer term leases up to 4 or 5 years. However, it is most common for dealers to offer 2-3 year leases. When determining which lease term is right for you, you should consider:Your monthly budget for car paymentsHow you intend to use the car and why you are leasing in the first placeWhen you choose a short lease term, you pay less interest, but the monthly payments will likely be high. With a longer lease term, your payments will be lower, but you’ll pay more in interest over time and are more likely to end up with out-of-warranty repair expenses. This is why 2-3 years tends to be the lease term of choice for most lessees. Additionally, if you’re leasing because you like to get a new car every few years rather than deal with the wear and tear of aging vehicles, it doesn't make sense to get a longer lease. If you’re happy with one car for a long time, financing a car to buy will typically make more sense than leasing.What Lease Term Should I Choose?The 3 categories of lease term again are:Short term2-3 yearLong termRead on for a more in-depth look at each category and guidance for how to choose the right one for you.Short Term LeaseShort term leases are not very popular, and for good reason. You will pay the most amount of money per month for a short term lease (and it may even be more expensive than financing). However, there are still times when short term leasing may make sense for you. For example, you might want a short term lease if:your usual vehicle is undergoing extensive repairsyour previous vehicle needs to be replaced but you aren’t ready to buy you want to try a different kind of vehicle out before committing to ityou don’t normally need a car or second car but have to spend quite a bit of time on the road over a set period of time due to work or family obligationsIf you know you will need a car for several months, but not longer, a short term lease may make more sense than a rental car, in terms of cost and convenience. Since rental car companies charge by the day, with few discounts for longer term rentals, they can quickly turn into a big expense.2-3 Year Lease2-3 year leases are the most popular when it comes to vehicle lease terms. This term length allows you to have the car for a decent amount of time while still giving you the benefits of leasing. Typically, your warranty will last the entire period of your ownership, so you do not need to worry about expensive repairs. You will also get more reasonable monthly payments by choosing 24-36 months. Within this category, most people prefer 36 months (a 3-year lease) – this lease term will usually get you lower monthly rates and total costs, whereas 24 months (a 2-year lease) offers greater flexibility if you want to upgrade your vehicle sooner, but will typically cost more monthly and may come with fewer incentives.Long Term LeaseYour other option is to select a long term lease, which is typically 4 years (48 months), though there are leases up to 5 years (60 months) that may be available. These leases will give you the lowest monthly payments, but you do run the risk of outlasting your warranty and racking up surprise costs for repairs and maintenance that leasing otherwise usually allows you to avoid. These leases are also the least flexible in terms of upgrades and often come with higher fees and more paid in interest. How To Decide The Best Car Lease Term For YouHere are a few questions to ask yourself to help you decide on the right length of time for you to lease a car:Why do you want to lease a car? Is it a short term or long term need?Are you happy to pay a little more to get to trade your car in 2 years? Would you rather pay less every month and stick it out a little longer with your ride? Is your budget tight enough that a lower monthly payment would be a big help, even if it means paying more in interest over time?Do you have the cash flow to handle out-of-warranty repair and maintenance costs at the end of a longer lease?In the end, this decision simply comes down to your budget, needs, and preference.  Consider what is important to you and what you can afford in order to make the right choice. What Happens At The End Of A Car Lease?You will have three options at the end of your lease term:Trade in for a new leaseTurn the car in and walk awayPurchase your leased car from the dealershipTrade InWhen you trade in your leased car, you simply return your car, pick out a new one, and sign a new lease agreement.Many people who lease like to have a new car every few years, and leasing allows them to do so with minimum stress. Trading in is a great option if you would like to continue leasing, haven’t gone over the mileage limit, and haven’t had major wear and tear on your car. Turn The Car InIf you have decided that leasing isn’t right for you, you can turn your lease in and walk away. You will be responsible for any fees due to excessive mileage and excessive wear and tear, but beyond that, you will be free to do as you wish. Maybe you do not need a car at all, or maybe you’d be happier buying a new or used car. Buy out Your LeaseBuying out your leased car means purchasing your car for the residual value that is listed in your contract. This is a great option if any of the following apply to you:The residual value of the car is less than the market value of the carYou really like your car and you don’t want to part with itYou have gone over the mileage allowance and will be responsible for overage feesYou have significant wear and tear and will be responsible for feesIt is not uncommon for residual values that are listed in the lease contract to be less than the market value of a car. This is because residual values are determined at the beginning of the lease and cannot be changed. The increased competition in the used car market over the past several years has caused an increase in market value, so your buyout price may be cheaper than the car’s value. This means that even if you do not want to keep the car, you might be able to buy your leased car and sell it for a profit. Getting a lease buyout loan is a great way to do this.Or, maybe you just really like your car and don’t want to part with it. Buying your lease out is a great way to own the car that you love, and is usually a very affordable option.That’s Everything You Should Know About Car Lease Terms Now you should have the information you need to decide which lease term length is right for you.Leasing a car is a popular option for many people, but it can be hard to decide what length of lease term is appropriate. Taking a look at your needs and your budget can help you determine which lease term length is best for you. And when your lease ends, a car lease buyout loan can help you keep your car.If you are interested in buying out your lease, the experts at Auto Approve are here for you. Our agents can guide you through the application process and find the car lease buyout loan that is right for you.Get started today.

Here’s what you need to know. If you were previously unable to refinance your car loan and save money, you may be eligible now to do so if: your credit score has gone up, your overall financial picture has improved, your vehicle’s value has increased, or lower interest rates are available than the last time you checked, making a beneficial refinance available to you.Read on to learn more.Car Loan Refinance Eligibility: Your Complete GuideIn this guide, we’ll break down:when you’re more likely to be eligible to refinance your car loanhow to know if you’re likely not eligible to refinance your car loanWhy You Might Be Eligible To Refinance Your Car LoanYou may have become more eligible for a beneficial refinance if:Your credit score has improvedYour income has increasedYour debt has decreasedYour vehicle’s value has gone upYour Credit Score Has ImprovedA low credit score is one of the top reasons people are ineligible to refinance their car loans. Credit scores are important because they indicate to lenders how likely a person is to repay the money they borrow. The following factors make up your credit score:Payment history (35%) – This category tells lenders if you pay your accounts on time, and if your payments are on time, full, and consistent.  Amounts owed (30%) – This category tells lenders how much debt you are in. The accounts owed category calculates how much debt you are in compared to how much credit is available to you. This is called your credit utilization ratio, which measures the amount of money you owe to the amount of credit you have available to you. Lenders look for this ratio to be 30% or less.Length of credit history (15%) – This indicates how long you have had your accounts open. Credit mix (10%) – This section shows how diverse your portfolio is; a good mix of loans, credit cards, retail credit cards, mortgages, etc will help show lenders that you are able to balance having varying accounts open.New credit (10%) – If you are opening new accounts, this indicates to lenders that there is variability in your debt. In other words, you may currently owe more money than your current report is reflecting. A change to any of these categories can significantly affect your credit score, and therefore significantly affect your loan refinance eligibility. This is particularly true if your score increase pushes you into a different credit score bracket:Exceptional (Super Prime): 800-850Very good (Prime): 740-799Good (Near Prime): 670-739Fair (Subprime): 580-669Very poor (Deep Subprime): 300-579If your credit score increases from 650 to 700, that can have a huge effect on your eligibility AND on the car loan APR you are offered. Your credit score is likely to increase when you:Make consistent, full, and on-time paymentsPay off debt (reduce your credit utilization ratio)Have a negative event expire (such as a bankruptcy)Have an increase in your line of creditIf your credit score has increased, it is definitely worth considering an auto loan refinance.Your Income Has IncreasedWhen you apply for a car loan, lenders look at your DTI: your debt-to-income ratio. Do you make enough money to support the debt you are in? A high ratio may indicate to lenders that you are in over your head financially and are less likely to keep up on payments.An increase in income will reduce this ratio. So if you got another job (or a raise) since your initial refinancing application, you may now be eligible for a new loan.Your Debt Has DecreasedPaying off debt will not only help your credit score, but help lower your debt-to-income ratio as well. Just as an increase in income will lower your DTI, so will paying off debt. So if you have paid off some student loans, eliminated some credit card debt, or have just consistently been paying off your debt without taking on more, you may have lowered your DTI significantly. And this can make you eligible for auto refinance.Your Vehicle Has Increased In ValueEven if everything about your personal financial picture is around the same, you may be eligible to refinance right now if the value of your vehicle has gone up, lowering your LTV, or loan-to-value. During the pandemic, the price of new and used cars went through the roof, and values have remained somewhat elevated, so your vehicle may be worth more than you know. Get a free quote from Auto Approve or look up your car in the Kelley Blue Book to find out more about your vehicle's value and how it may have affected your eligibility for refinance.Why You Might Not Be Eligible To Refinance Your Car LoanWhile there are some things that may make you eligible to refinance your car loan now, there is still a chance that you are not eligible.You may not be eligible for a beneficial refinance if:your credit score has decreasedyour income has decreasedyour debt has increasedyour car is ineligibleyour loan is ineligibleYour Credit Score Has DecreasedIf your credit score has decreased recently, especially if it has dropped below 650, you will most likely not be eligible for car loan refinance. And if you are eligible, you might not qualify for a good car loan APR. It is a good idea to work on improving your credit score before applying.Your Income Has DecreasedIf your income has decreased due to a job change or other reason, you may not be eligible for car loan refinance. That’s because, even if your debt is unchanged, this drop will increase your DTI, making you a less desirable loan applicant.Your Debt Has IncreasedSimilarly, increasing your debt will increase your DTI ratio and make you a less desirable car loan applicant.Your Car Is IneligibleLenders have requirements when it comes to the vehicle you will be refinancing. Typically, the older the car is, the less inclined a lender will be to refinance. If a person is unable to pay their loan, the lender is entitled to take the car as collateral. In this case, they will need to be able to sell the car to recoup their losses. So if the car is older and/or has a lot of miles on it, they will not be able to get as much money for the car.Each lender will have their own vehicle requirements, but it’s common to require that the vehicle have less than 125,000 miles on it and be less than 12 years old. Lenders are ultimately concerned with your vehicle’s loan-to-value ratio, which is the balance of the loan compared to the value of the car. If your loan is $15,000 and your car is valued at $15,000, your LTV is 100%. Your car will depreciate in value as time goes on, and you want your loan balance to keep pace with that. A RateGenius survey from 2015 to 2019 found that 90% of approved applicants had an LTV of less than 123%. However, as we mentioned above, used car values rose dramatically from 2020–2022 and have stayed relatively high, so if your vehicle was financed before the pandemic, it’s worth checking its current value.Your Loan Is IneligibleIf there isn’t a lot of time remaining in your loan, or if the balance isn’t large enough, you may not qualify for a car loan. Lenders will not find value in taking on a small loan, as they will not make much in interest. Each lender will vary in their guidelines.Why You Should Refinance Your Car Loan With Auto ApproveWhy should you consider Auto Approve for your car loan refinance? we take refinancing personallywe don’t waste timewe shop around for the best dealswe never mark up pricesIf you think you may be eligible for a car loan refinance, consider refinancing with Auto Approve. Auto Approve specializes in auto loan refinance and has relationships with trusted lenders across the country. This means you can easily find the most competitive rates available to you.We Take Refinancing PersonallyWe know how overwhelming the thought of refinancing can be, and you may feel like you don’t even know where to start. And we get it. That’s why we give you a real person to guide you through the process. Just read our reviews to see how much our customers love working with our refinance specialists. We Don’t Waste TimeOne of our top compliments from customers is about our fast turn around. We know that your time is important, so when you get a quote from Auto Approve, we make sure to get to work right away. We have great relationships with lenders around the country, so you can get great offers, fast. Our trusted refinance experts can help you decide on a loan and get all of the paperwork done quickly. We even handle the DMV paperwork for you. Using Auto Approve streamlines the refinance process to save you time and money.We Shop Around For The Best DealsThere are a lot of lenders out there, from credit unions to traditional banks to online lenders. It can be overwhelming to know where to start. At Auto Approve, we handle comparison shopping for you, getting quotes from our network of 40+ lenders. Our experts understand which lenders might be the best match for you and can help you lock in your best deal. We Never Markup PricesAt Auto Approve, we never add mark-ups or hidden fees. We believe in passing the savings right on to you, which is why we never inflate our prices or charge extra.That’s What You Need To Know About Car Loan Refinancing EligibilityNow you know why you might be eligible for car loan refinancing even if you weren’t before, and why you should consider refinancing your car loan with Auto Approve.If you haven’t been able to refinance in the past, you may be eligible now to do so. An increase to your credit score or income, or a decrease in debt could make you eligible for a low car loan APR and lower monthly car payment. Get your free quote to get started today!

Here’s the short answer:Guaranteed Asset Protection, or gap insurance, is optional insurance that kicks in if your car is totaled or stolen. It essentially covers the “gap” between what you still owe on your vehicle and the depreciated value of the vehicle. Read on for more…In this guide to gap insurance, you’ll learn how this type of insurance works, how much it costs, and when you should consider getting it.Your Complete Guide to Gap InsuranceIn this guide, you'll get answers to the following Frequently Asked Questions about gap insurance:What is gap insurance for?How does gap insurance work?How much does gap insurance cost?Is gap insurance required?How do I decide if I need gap insurance?Is gap insurance really worth it?How do you get gap insurance?What Is Gap Insurance For?If you have a car loan, it is possible that your car may be or become valued at less than you owe on it. This becomes a major problem if something drastic happens to your car. For example, if your car is stolen or totaled, the insurance company will typically only pay out what the car is valued at, not the amount that you have left on your loan, leaving you still making payments on a vehicle you no longer have. How Does Gap Insurance Work?Gap insurance kicks in when there is a gap between what insurance will pay and what you still owe on a vehicle. For example:Say you take out a loan for $20,000 on your new car, and a few months later your car is totaled while it is parked outside your house. You file a claim with your insurance company, and they agree to pay $17,000. The $3,000 difference is ultimately your responsibility, even though the situation was completely out of your control. If you have gap insurance, then you would file a claim and your policy would cover that difference.Gap insurance ultimately works in conjunction with comprehensive and collision insurance to minimize or eliminate your out of pocket expenses.How Much Does Gap Insurance Cost?Like everything, the cost of gap insurance can vary greatly between insurance companies. The following variables will affect the cost of gap insurance for your vehicle:Where you liveYour ageYour previous claims historyThe actual value of your carThe total amount you owe on your carIf you go through your current provider, you can expect to pay a yearly flat fee of $500 to $700 for the coverage. If you finance through a credit union, you can expect a monthly add on of $20-$40. At AutoApprove, we work with lenders to get the best rates on gap insurance possible, usually costing around $14 per month. As far as insurance coverage goes, it offers a great return on investment should you ever need it.Is Gap Insurance Required?Gap insurance is not a required insurance, but may still be a good idea depending on your financial picture. Some types of insurance are typically required by your state or your lender, depending on your location and situation. Liability Insurance. This insurance is required by almost every state in the United States (excluding New Hampshire). It is composed of three parts: bodily injury coverage per person, bodily injury coverage per accident, and property damage coverage per accident. This covers any damage you may cause to another driver, their passengers, or their property, including their car.Comprehensive Insurance. This covers the cost of damages to your vehicle if there is a non-crash accident, such as weather damage or theft. Comprehensive insurance also covers damage that occurs if you hit an animal. Collision Insurance. This covers damages to your vehicle if you hit or are hit by another vehicle.If your car is financed, you may be required to get all three types of insurance. Even so, it is possible that these policies may not cover all of the damages in the case of an incident, and you could end up still owing money on your car.How Do I Decide If I Need Gap Insurance?If your car is not financed, you do not need gap insurance. If your car is financed, it depends largely on the expected depreciation of your car. It is important to remember that cars depreciate rather quickly, losing about 20% of their value in the first year alone. It is always worth checking Edmunds or Kelley Blue Book to see what your car is worth. Here are some factors that can help you decide if gap insurance is necessary: You put less than 20% as down payment on your car. This makes you more likely to end up with negative equity as soon as you leave the dealership. Your car depreciates the minute you leave the dealership, so if you only put down a low down payment, you might immediately owe more than the car is worthYour car is a lease. Some leases require gap insurance in addition to collision, comprehensive, and liability.You drive a lot compared to the average person in your area. This will cause your particular car to depreciate faster. Your car model has a tendency to depreciate fast. Some cars simply lose value faster than other cars, while some cars hold their value extremely well. Gap coverage might be worthwhile if your car model doesn’t hold its value particularly well.Your car loan repayment period is long. If your loan is 5 years or longer, there is a higher chance that your loan balance will exceed your car’s market value. Gap insurance can protect you from this depreciation.Is Gap Insurance Really Worth It?If there’s a good chance your car will depreciate faster than you will pay it off, you should strongly consider gap insurance. You will need to do the math to determine if gap insurance is worth the investment.  First, go online to determine how much your car is worth. Use sites such as Kelley Blue Book and Edmunds to get a value for your make and model. It is best to find an end of year value for each year of your loan.Take a look at your loan terms. See how much you will owe each year, and compare this to what your car will be worth at the end of each corresponding year.Calculate how much gap insurance will cost for each year.Look at the difference in your car’s value and what you owe at the end of each year. Based on this, determine how much gap insurance will save you in the event of a disaster. How Do You Get Gap Insurance?Guaranteed Asset Protection (GAP) usually comes with your loan or can be purchased from your lender. If your insurance company does not offer gap insurance, you can purchase it as a stand alone policy from another provider. You can also add gap insurance when you refinance a vehicle.Now You Know About Gap InsuranceGap insurance is designed to cover what collision and comprehensive insurance do not cover, and can protect you against depreciation.If you’re choosing to refinance your vehicle with Auto Approve, we will work with you to make sure your new loan includes any gap coverage that makes sense for you. We work with our network of lenders to get you competitive quotes, then help you choose the rate and coverage that best fit your needs.Get your free quote now.

Here’s the short version.Interest is essentially the cost of borrowing money, usually expressed as a percent of the total amount borrowed. The interest rate is the name we give the percentage charged (or earned) on borrowed money.Say, for example, you lend me $100 with 5% simple interest to be paid back within the year. That means, when I pay you back, I’ll owe you a total of $105. $5 is the interest I paid as a fee for borrowing that money from you, and 5% is the interest rate on the loan. You get that $5 to pay you for taking on the risk of lending money, in case for some reason I failed to pay you back, or inflation made $100 worth less by the time you got it back.Interest rates are applied to just about every common lending or borrowing situation that occurs in a professional financial setting. Vehicle loans, mortgages, student loans, business loans, credit cards, and so on all have interest rates applied to them.Interest rates are affected by the economy. They respond to the supply and demand of credit, inflation, and government monetary policy.When it comes to your loans and payments, changes in interest rates can reflect in your personal finances. For example, loans with variable rates may see rate changes, or you may be able to save money through a well-timed refinance.Read on for a more in-depth look at interest rates – what they are, how they work, and why they matter (even if you’re already locked into loans).Your Complete Guide To Interest RatesIn this guide, you’ll get the answers to these Frequently Asked Questions about interest rates:What are the kinds of interest rates?What’s the difference between interest rate and APR?Who determines interest rates?What causes interest rates to go up and down?How do interest rates affect car payments?How do you know if market changes mean you could save money?What are the reasons people consider refinancing?What are the kinds of interest rates?Here are a few key terms to help you better understand loans and interest rates:Simple interestCompound interestPrime rateFixed rate loansVariable loansAPRAPYSimple InterestSimple interest is interest that is applied only to the base amount borrowed or lent. Simple interest percentages are charged on a per year basis, using the following formula:Interest = principal x rate x term (in years)So, let’s say you borrowed $100,000 at 4% to be paid back over the course of 5 years. With simple interest, you would pay:$100,000 x 0.04 x 5 = $20,000$20,000 in interest, meaning the total you’d have to pay back over the course of 5 years would be $120,000 – you’re paying back the principal plus the interest.Compound InterestCompound interest is interest that’s applied to the base amount borrowed plus any interest owed from previous periods.It’s calculated using the formula:Interest = principal x (1 + rate)term – principalSo, taking the same lending scenario but making it compound interest, you’d have:$100,000 x (1 + 0.04)5 – $100,000 = $21,665.29That means you have $21,665.29 to pay in interest. Compound interest is more commonly used in business scenarios like investing.Prime RateThe prime rate is a reference rate or base rate used by banks. While each bank sets their individual base rate, resources like the Wall Street Journal typically take the average of recent rates from a wide group of major financial institutions to determine a U.S. prime rate. The rate tends to fluctuate based on factors like the Federal Reserve’s federal funds rate.Fixed Rate LoansFixed rate loans are loans that have a set interest rate for the life of the loan. Fixed rate loans are popular because they offer stability for budgeting and can protect you from market fluctuations. Their downside is that if rates go down, you don’t benefit, and they may come with more penalties if you want to repay your loan early or refinance.Variable LoansVariable loans are loans where the interest rate can change based on prime rate fluctuations.Most variable loans start with an introductory rate (usually a lower rate than comparable fixed rate loans) that remains fixed for 1, 3, or 5 years. After that, the rate will be adjusted to reflect the market roughly every 6 months. While variable loans often start off more affordable and offer borrowers the chance to benefit if interest rates drop, they’re also more volatile and can result in much higher payments if rates go up.Annual Percentage Rate (APR)APR, or annual percentage rate, is the total annual cost of borrowing money on a loan, expressed as a percentage. What’s the difference between interest rate and APR?The APR includes not just interest but also any fees on top of the interest. Many loans have other fees attached to them than just the interest rate, so it’s important to review your APR closely when taking out a loan or credit card.Annual Percentage Yield (APY)APY, or annual percentage yield, is the total annual interest earned on an account. Essentially, APR expresses the total amount you pay for money borrowed in a year, and APY expresses the total amount earned for money loaned, invested, or saved.Who determines interest rates?Banks and lenders determine their individual interest rates based on a variety of factors including: prime rates, the Federal Reserve’s federal funds rate, and the borrower’s unique financial picture.The interest rates available to you individually may go up and down based on market rates, but will also be determined based on things like your credit score, income, and payment history.What causes interest rates to go up and down?Interest rates are tied to broader economic trends. You’ll often hear about the Federal Reserve, or the Fed, setting rates, because the federal funds rate does set the tone for broader prime rates in the U.S. While the Fed is not solely responsible for interest rates, they do tend to adjust their rates up and down based on the economy. The key factors they look at are:InflationEmployment dataGenerally, lower rates mean more borrowing, so the Federal Reserve might adjust rates up to keep inflation in check, or they might lower rates when unemployment is high to stimulate the economy and help create more jobs.How do interest rates affect car payments?Interest rates are reflected in any formal borrowing and lending, including vehicle loans.If you have an auto loan and make a monthly car payment, then you likely have a fixed interest rate loan with a rate based on your downpayment, financial picture, and prime rates at the time you financed your car (plus, in many cases, dealership markups). How to know if market changes mean you could save moneyYou should make sure you know your current loan rate and keep track of market changes. If rates are lower than when you got your financing, you may be able to benefit from refinancing your loan(s).Paying attention to prime rates can help you make money by investing when rates are high and financing or refinancing when rates are low.Other reasons to consider refinancingHowever, federal and prime rate changes are not the only reason to consider refinancing. As well as lower market rates, you may want to look into refinancing if:Your financial picture or credit score has improvedYou financed through a dealershipYour monthly payment is too high and you need more favorable termsYou want to add or remove a co-signerYou want to change your loan terms to pay it off sooner (or later)Refinancing a car loan is a common way to get a better deal and save money on car loan payments.That’s Everything You Need To Know About Interest RatesInterest rates are an integral part of the American economic ecosystem, and understanding them can help you make better financial decisions.Could you benefit from a lower rate on your auto loan?Get your free quote now.

Can winter damage your car?The short answer is yes. Winter conditions can: reduce your car’s battery life, affect your tire pressure, corrode the parts of your vehicle most exposed to salt, cause damage to suspension and wheel alignment, cause parts of your car to temporarily freeze shut, and more.Depending on where you are and the kind of wintry weather you’re facing, your vehicle may be at risk for a wide range of problems. Read on for a more complete picture of the possible damage winter can do to your car and how best to avoid it.The Complete Guide to Winter Car DamageWinter weather can directly and indirectly do damage to your car.Winter Vehicle Damage Risks By PartWinter may interfere with your vehicle’s:BatteryTiresLocks and handlesWindshield and wipersPaint jobBodySuspensionSpark plugTouchscreensHere’s how, and what you can do about it.1. BatteryBatteries need to use more energy to start and to run in the cold, so your battery life will be shortened when the temperature drops. While a car’s battery is always essential, this is especially a concern for electric vehicles (EVs) that run entirely on battery power, as they’ll have shortened ranges throughout the coldest months.For similar reasons, your vehicle needs more fuel to get running and stay running in the cold, so winter often lowers the gas mileage you get. Be prepared to pay a little extra at the pump and fill up a little more frequently when temperatures drop.It’s good practice to get your battery checked by a mechanic during the winter to make sure you don’t get caught out in the cold with a dead battery. And, if you can park indoors, that can help keep your vehicle from getting as cold, which can help mitigate some of the effects of the cold on your fuel usage and battery.2. TiresWinter weather can affect your tire pressure and traction. Not all tires are conducive to driving in icy conditions.You might remember from school that cold air contracts and hot air expands, and what happens to tires in winter is a real world application of that principle. When the weather changes, you need to be mindful of your tire pressure to ensure your tires aren’t too low – and when things heat up again, you’ll want to remember to adjust accordingly.And that’s not all – the cold can make the rubber on your tires harder, reducing their grippiness. It’s important, if you’re going to be driving in the cold, to make sure you have at least all-season tires on your vehicle. Those who live in colder climates where winter weather is a regular occurrence should strongly consider dedicated winter tires, which are made with a softer rubber to ensure better traction.The damage winter weather does to roads can also mean more risks to your tires, so make sure you check not just the pressure but your tires’ age and treads, and take the time to check for damage after driving through less than ideal conditions.3. Locks and HandlesWhen rain freezes or snow melts and refreezes on your vehicle, the locks and handles can get frozen shut by ice. If you’ve ever lived in a cold climate, you know the annoyance of an iced-over door handle when you’re already running late.Fortunately, there are tailormade de-icing products for this express purpose that you can buy. While some people will use warm water to melt ice off of door locks and handles, adding water can cause additional issues, so it’s best to keep de-icer spray on hand or – even better – use a silicone lubricant ahead of any nasty weather to keep your essential mechanisms from freezing in the first place.4. Windshield and WipersWindshield wipers can get stuck to the window and worn down in the winter, and any existing issues with your windshield can be exacerbated.Windshield wipers are particularly prone to winter-related issues. That’s why you’ll often see them with their arms lifted off the windshield and up when a storm is coming – they can get stuck to the windshield, and unsticking them can be a big headache that can wear down the rubber on the wipers.To combat winter wiper wear, experts suggest making sure you have plenty of wiper fluid, using a high-quality winter fluid with de-icer, and even replacing your standard wipers with special winter wiper blades.As for the windshield, the most common problems that come up during the winter are: cracks and imperfections getting worse because cold causes the glass, like the air in your tires, to contractpeople accidentally cracking or even shattering their windshield by trying to de-ice with hot waterIf your windshield gets icy, use your car’s defrost setting and a plastic ice scraper instead.5. PaintYour vehicle’s paint job can get minor knicks and scratches from the scraping and shoveling that often happens on and around a car during the winter, but the greatest danger to the paint job comes from salt. Salt is corrosive and can damage both your car’s paint job and the body itself. While small imperfections in your paint might seem minor, if they leave your vehicle vulnerable to moisture and rust, they can have long-term consequences. Getting a preventative extra coat of wax or making sure you get touch ups or polishes when issues arise can help bumps and scrapes from becoming rust and corrosion.6. BodyAs with your vehicle’s paint job, your vehicle’s body is most at risk of salt damage in the winter.Road salt makes the roads safer, but it can also be corrosive when left on your vehicle for any length of time. If your vehicle gets pummeled with salt after a storm, make sure to take the time to wash the salt off – including the undercarriage. The extra water exposure from driving over snow and slush, combined with the effects of salt, can also cause rusting, so the best thing you can do is be on high alert for issues with your car’s chassis. If you catch issues quickly, they’re easy to deal with, so wash and check your vehicle at least once a month, and consider a preventative coating if you’re living in an area where winter road conditions last for months.7. SuspensionSudden jolts and impacts from potholes and other road bumps can damage your suspension.While winter might not affect your suspension directly, bad weather and rapid temperature changes can cause cracking and potholes in the road, and snow can make road damage harder to spot. That means it’s important to be extra vigilant for new bumps and dips in the road in the winter and spring.8. Spark PlugOlder spark plugs can struggle in the cold weather months because a stronger spark is needed when the air is colder and they are susceptible to corrosion.A new spark plug should do just fine in the winter, but if you have an aging spark plug, you might find your car gets harder to start as the temperature drops. Idling can also cause carbon build-up, which can also cause spark plug issues over time. 9. TouchscreensTouchscreens are more likely to glitch or freeze when very cold.Liquid crystal display (LCD) screens, which are now common in cars, become slugging when they get too cold. That’s because they quite literally use liquid, and cold liquid simply doesn’t move as fast.To get your screen back into fighting form, you'll simply need to slowly warm it up. For the most part, it shouldn’t be permanently damaged except in extreme cold (below -4° F), but vehicles that rely on touchscreens for essential functions should ideally be parked in a garage during the worst winter weather whenever possible.Want extra cash in hand for winter car maintenance?Refinancing your vehicle with Auto Approve could help you save you thousands.Get a free, no-commitment quote to see how much you could save.How To Avoid Winter Damage To Your CarHere are 9 things to do – and one don’t – if you want to keep your car in tip top shape through the colder months.Do park in a garage when you have the option.Do get your vehicle serviced for winter, especially if you’re unsure about your vehicle’s winter readiness.Do wash your car when it’s been exposed to a lot of salt, and consider getting an extra coat of wax to help protect your paint and chassis.Do use an ice scraper, not your windshield wipers (and never hot water!), to get snow and ice off the windshield.Do check your tire pressure as temperatures change.Do go over winter driving best practices so you’re ready for any challenges rough roads might bring, from black ice to pot holes.Do make sure you have plenty of coolant.Do get your vehicle’s battery load tested – or pay attention to the range indicator, for EVs.Do keep a winter emergency kit in your car.Don’t run your car more than you need to – it’s a myth that you need to start your car every day, starting it from cold will cause more wear and tear than leaving it a few days, just check to make sure you’re not getting snowed in or iced out by frozen handles and locks.The short version is: an ounce of prevention is worth a pound of cure. Anything you can do to prepare your car for winter’s challenges before you start seeing signs of wear and tear will save you money and time in the long run.That’s Your Guide To How Winter Damages CarsNow you know what to do, what not to do, and what to watch out for this winter.But what if it’s too late?If the winter weather’s caused damage that needs fixing, you might find yourself trying to squeeze maintenance into your budget.Fortunately, most people can save money by refinancing their vehicle.When you refinance with Auto Approve, you get guidance from a dedicated expert to make sure you get the best deal for you.Get a free quote now.

If you are wondering how to get out of a car lease early, there are three main options to consider: transfer the lease, return the car, or buy the car.Which you choose will depend on the details of your lease, the vehicle, and your finances.Read on to learn about each option, how it works, and why someone might choose or avoid it.Ending Your Car Lease Early: The Complete GuideIn this article, we’ll look at:Reasons to end a car lease earlyTransferring a car leaseWays to terminate your car lease Considerations for buying out a leaseWhat you need to know to get a lease buyout loanWhy end a car lease early?There are a number of reasons why you might want to get out of your car lease early. For example: You just lost your job, and the payments are too much to keep upThe vehicle you leased isn’t fitting your needs anymoreYou want to be done with leasing and simply own your car outrightYou’re worried about excess mileage feesThese are all valid reasons, and they’re not the only reasons. Plans change, things happen, and unexpected events can throw us totally off-course from what we thought we needed in our daily lives. When it comes to the terms of your auto agreement, a lease might have seemed like a good solution at one point; yet, due to circumstances out of your control, being in a car lease no longer makes sense for you.Fortunately, tons of people find themselves in a similar predicament each year, which is why it’s not uncommon to want to learn how to get out of a car lease contract early.Still confused? Here are a couple frequently asked questions about reasons to end your car lease before it’s up.What are excess mileage fees?When you get a lease, it often includes a maximum number of miles you’re allowed to drive per year. If you stay under that mileage, some lenders will give a small refund for preserving the car. If you go over it, however, you’ll get charged a fee per mile, payable at the end of the lease. This is because the mileage affects the value and wear and tear of the car.For example, let’s say you had a 3 year lease with a maximum annual mileage of 12,000 miles at a rate of $0.25 per mile over the limit, and you average 14,000 miles per year.You would be 2,000 miles over every year for three years, so you would owe:(2,000 x 3) x $0.25 = $1,500.00$1,500 at the end of the lease. It can really add up!Many people buy out their leases to avoid these excess mileage fees. That’s been especially true in the past several years, since used car values increased during the pandemic and have stayed elevated. This may make your current vehicle’s value higher than the dealer thought it would be at the time the lease was signed.Is it a good idea to get out of a car lease prematurely?That really depends on your unique situation. In many cases, people choose it because they feel they have no other choice. Figuring out how to get out of a car lease agreement early can be a costly and lengthy process. However, if the cons of staying in your lease outweigh the costs and challenges of getting rid of it, then it makes sense to stay the course.If you have decided that you need to make a move and get out of your lease, make sure you really take time to weigh your options, and don’t agree to anything without hearing the final numbers on what you’ll owe or receive. Don’t be afraid to demand hard numbers from your leasing company: it’s a service they owe you as your lessee. So, with all that under consideration, how do you get out of a car lease early?Options for ending a car lease earlyThe short version is, you can do one of three things:Return your vehicleTransfer your leaseBuy your vehicleLet’s break down each option.Return your vehicleThe simplest way to get out of a lease early is to terminate the lease agreement and return the car. However, this is also often the most costly option. When you terminate a lease early, you may be responsible for all or some of the following expenses:early lease termination feeremaining payments on your vehicleany costs related to resaletaxes associated with leasingnegative equity between your lease and the current market valuestorage and transportation of your vehicleSince a car’s value typically depreciates more upfront, the earlier you terminate the lease, the higher the cost is going to be on your end. In many cases, the termination cost may be so high that it makes more sense for you to complete the lease as agreed upon. Remember that the Consumer Leasing Act does mandate that all of these details are included and available for you to review in the lease you have on record.Early lease termination feeEarly lease termination fees vary widely from lease to lease. They are often based on a sliding scale, making it more burdensome to pay off the earlier you are in your lease. For example, if you terminate your lease in the first year, you may be required to make three additional monthly payments, whereas if you terminate your lease in the second year you may only be required to make two additional payments. Review your lease agreement thoroughly to determine your responsibility.Remaining payments on your vehicleYou may be required to pay some or even all of the remaining payments on your vehicle. This is potentially the most expensive part of exiting a lease early. If you decide to terminate your lease with 18 months left on your contract and your monthly payments are $300, you may be on the hook for $5,400 in addition to the other fees associated with termination. Any costs related to resaleLease agreements typically require you to pay a disposition fee, which covers any costs associated with reselling the car. This could include getting the car thoroughly washed and detailed, fixing any cosmetic dings, and performing any necessary maintenance. This can range from a few hundred to a few thousand dollars depending on the terms of your lease and the condition of your car. Taxes associated with leasingIf there are any additional taxes associated with the lease, you will be required to pay those. These costs vary greatly from state to state so you’ll want to make sure you know how much you’ll owe in taxes before making any decisions.Negative equity between your lease and the current market valueNegative equity is when you owe more than something is worth. This is also referred to as being “upside-down” or “underwater” on a loan. When it comes to a lease, it means that your monthly payments are not paying down the balance of the lease faster than the car is depreciating. Your lease agreement might require you to pay some or all of this difference in the car’s value.Storage and transportation of your vehicleAny costs related to the physical removal and storage of your vehicle will be your responsibility to pay.As you can see, all of the lease termination fees often make this the most expensive and least practical way to get out of a lease early, though it is definitely the most straightforward. Transfer the leaseA very popular option to get out of a lease early is to transfer your lease to another person. It is important to look at your lease agreement, however, as not all leases permit a third party transfer.Websites such as leasetrader.com and swapalease.com can help match you with someone looking to take over a lease. However, you must ensure that it is legal to do so in your state. The new lessee must also meet the lender’s requirements. If you are able to transfer the lease, you will most likely be held responsible if the third party stops making payments. You will also be required to pay any transfer fees, which can range from $500 to several thousands of dollars. It is common to offer incentives for people to take over your lease as well. An extra $500 to anyone willing to take over your lease might convince someone who is on the fence about whether taking over your lease is a good move. This option may be less expensive than returning your car early, but will still come with hidden fees, like the lease transfer fee and other costs that will pop up. You should do your due diligence and make sure you have a full tally of all associated costs before choosing to transfer your lease. Be sure to compare the costs between a lease transfer, early termination, and lease buyout before making any final decisions.Buy the carSometimes the most financially beneficial way to end a lease early is to buy the car from the lender. If you have the capital to do this outright, you can simply buy the car and pay for any associated fees. If you do not have that amount of cash on hand, you can opt for a car lease buyout loan. Depending upon the details of your vehicle and loan, buying out your vehicle entirely may be you best option for early termination. Yes, there are still fees involved, but it’s worth running the numbers to compare this option against the others. Many people who need or want to get out of their car lease option pick buying their vehicle outright (or getting financing to do so) because, unlike the other options, you get to keep the car at the end of the process. This means that you can either keep and use the vehicle or resell it, recouping some of the costs involved.Let’s take a closer look at how buying your leased vehicle works.How to buy your car from your lease agreementDetermine your car’s valueCheck for excess mileage, wear and tear, and disposition feesObtain a lease buyout loan, if necessaryDetermining your car’s valueEvery car lease has a residual value that is listed in the loan agreement. The residual value of a car is based on your car’s expected depreciation over the life of your loan and is predetermined by the leasing company. It is usually non-negotiable. This is the number that you are bound to should you choose to buy your car.It is important to also look at your car’s market value. This is based on the demand for your car, and will give you an idea of how much you can get if you resell the car. It is important to know what the market value is of your car to determine if it makes sense to purchase it. If the residual value of your car is $13,000, but the market value is $11,000, it would mean that you are paying $2,000 more than what your car is worth. Consider these values and determine if a car lease buyout makes sense for you. Maybe you want to keep the car for yourself and you are comfortable with paying for the residual value. Or maybe you want to resell the car, and you will still make money on the transaction based on the market value of the car. Other considerations for buying out your leaseBuying your car from your lender can release you from fees that you might otherwise have to pay. Leases often include charges or penalties for the following:Excessive mileage. Most leases have yearly mileage limits, and if you exceed that mileage amount, you can be paying huge penalties. These penalties can range from $.10 a mile to $.30 a mile, which can add up to several thousands of dollars if you drive a lot. Wear and tear. When your car is turned in after your lease is over, it is subject to inspection. Dealers will charge you for any external dents, stains to the interior, and anything else they think will hurt resale value. These fees can vary greatly depending on the condition of your car.Disposition fees. Dealers will usually charge you a disposition fee, which covers all costs associated with reselling your car. Think of all of these fees as money that can be put towards buying your car from your lease. If the fees add up to $3,000, it might make sense to take that $3,000 and use it to invest in the purchase. It is always a good idea to call your lender directly and find out exactly how much it will cost you to buy your car from your lease. To obtain a lease buyout loan:Call your existing lease company.Shop around for rates. Call your existing lease company, again. Sign the papers and notify your insurance company.Keep or sell your vehicle. If you’ve done the math and determined that buying out your lease is the best way to terminate your lease early, you may need to obtain a lease buyout loan. Not all lenders offer this type of loan, but at Auto Approve we work closely with lenders that provide these loans and will work with you to find your best rate possible. To get a lease buyout loan, you will need to take the following steps:Call your existing lease company. First, find out how much it will cost to buy your car. Tell them you are looking to buy out your lease and see if they provide that service.Shop around for rates. At AutoApprove we can jump start this process for you and help you start comparing rates.Call your existing lease company, again. Give them a chance to beat any competing rates that you may have found.Sign the papers and notify your insurance company. Make sure all of the necessary papers are signed, and tell your insurance company about the new lender. Since you will no longer have a lease, you may be able to reduce your coverage and your monthly payments, as you will no longer be required to have high liability coverage.Keep it or sell it. Now that the vehicle is yours, you can decide if it’s worth keeping it, or selling it and keeping the profit.Now You Know How To Get Out of a Vehicle Lease EarlyIt is not always easy to get out of a lease early, but there are options available to thos ewho want or need to do so. The best option for you will depend on your unique situation, but it rarely makes sense to terminate the lease outright. Finding a third party lessee or securing a buyout loan is the most beneficial option for most lessees. The worst thing you can do is agree to one of these options without knowing the final financial figures, so be sure to do your research.And if you are interested in obtaining a car lease buyout loan, get in touch Auto Approve today to get more information on how our experts can help you navigate the process and find a great deal from one of our trusted lenders.Get in touch today.