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Refinancing can be a great way to lower your car payment or reduce the amount of interest you pay over time. It’s not the right move for every car owner, though.

Refinancing an auto loan can save you money and reduce expenses, but it can also drop your credit score. Shopping for the best rates and getting pre-approved are ways to safeguard your credit.

Shopping around for the right auto loan can help you find the best terms — but before you start applying, you need to use an auto loan calculator to understand how much your car payment will be and what interest you’ll pay over the life of your loan.

If you don’t think you’ll be able to make your car payment, you do have options that can help you avoid repossession.