Auto loan refinancing to lower monthly payments

Kymrie Turner, Senior Vice President of Consumer Lending at America First Credit Union, discusses the growing interest in auto loan refinancing. Turner explains how high vehicle prices, elevated interest rates and longer loan terms have put pressure on household budgets. She shares how refinancing could help some borrowers lower their monthly payments or adjust their loan terms. Turner also offers advice for consumers navigating negative equity and weighs the differences between refinancing through credit unions, banks and fintech lenders.