With interest rates on the rise, is refinancing your car still worth it?

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As interest rates continue to rise in Thailand, many car owners are unsure whether they should refinance their auto loan now or wait for better rates in the future.

While interest rates are important, they’re not the only factor to consider when making this decision.

1. Compare your current loan rate

If your existing interest rate is significantly higher than today’s offers — even in a rising rate environment, refinancing could still save you money, especially if you secure a reducing-balance loan.

2. Remaining loan term

If you still have several years left on your current contract, refinancing now could lead to long-term savings even if the new rate isn’t the lowest available.

3. Monthly cash flow needs

Refinancing may help lower your monthly payments, which can ease your financial burden — an important factor during times of economic uncertainty.

4. Bank promotions and special deals

Even during rate hikes, many banks offer promotions like waived fees or exclusive rewards, which can make refinancing a worthwhile option.

Whether or not to refinance during a rising interest rate period depends on your unique situation. It’s crucial to look at the full picture — not just interest rates — and compare multiple offers.

Motorist Thailand can help!

Motorist Thailand offers unbiased consultation to help you compare and choose the most suitable auto loan refinancing options from top-tier banks in Thailand. Our services are free, transparent, and designed to give you confidence in every financial decision.

Contact Motorist Thailand today for free consultation!

Read More:  Complete Guide to Car Loans in Thailand: Best Types, Rates & Approval Tips

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