Hey people.

Are you thinking of refinancing your auto insurance? The bank interest rates are currently low, so it would be a good idea to refinance and pay lesser every month (at a much lower interest rate too).

I’ve had my car for about 3 years now, meaning I bought it at around 2008. The interest rates were high then, I think about 8%. Well, now it’s 1.88% !

I was thinking if I should either refinance, or get a repossessed 2nd-hand car in good condition (lol). After some thought, I’m currently leaning towards refinancing because my car is still in good condition and Japanese cars go a long way.

I guess I’ll have to do my calculations again!

On a sidenote,  if you need low car insurance rates and quotes, be sure to do your research well and choose the correct package that gives you the most advantage. Some insurers give you discounts if you don’t make claims against them, while some provide you with a sign-up bonus. It’s all up to you, depends on what you prefer i.e. cash or gifts or benefits.