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Should I refinance my car and undergo debt consolidation?
"I want to consolidate some of my credit card debt and lower my interest rate.
Is debt consolidation and car refinancing the way to go?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Both refinancing and debt consolidation can help you reduce the amount of interest you’ll pay as well as your monthly payment (in some cases).
Just make sure to shop around and that you can afford the monthly payment. Unlike credit card debt where you can pay a minimum each month, a debt consolidation loan is the same payment each month, and it’s higher than a credit card minimum.”
View full answer
- Gregory R.
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