Many people are unaware you can use refinancing your car to reduce monthly spending. 3.7 million motorists are currently feeling the pinch on existing car finance payments.
And one in seven say that while they have actively changed energy, broadband or mobile phone providers in the past, they have never considered switching car loan suppliers to soften the blow on their wallets. A further one in six Brits wrongly believe that once you take out an agreement on a vehicle, you’re locked in for life.
In an effort to drive down the cost of living, Carmoola, who commissioned the research, wants to increase visibility on this lesser-known way of reducing monthly outgoings. The flexible car finance lender has launched a new 8-minute auto refinancing service to help motorists save money.
