Below-prime car buyers are usually tuned into the financial aspect of purchasing a used automobile. They frequently search for the best interest rates and manageable monthly payments, but some motorists who invested in cars over the past few years are now attempting to refinance their auto loans and payments. 

Refinancing offers drivers a chance to lower interest rates, which is why more than 14 percent of existing auto contracts could be redone in 2014. That would mark a 12 percent increase from 2012. 

According to a new study from CarFinance, the Nissan Altima, Ram 1500 and Honda Accord were the three most frequently refinanced vehicles in 2012.  Other models on the list include the Toyota Camry, Dodge Charger, Ford F-150 and Toyota Corolla. While these are among the most popular automobiles on the market, they are also some of the most reliable and fuel efficient – meaning drivers are investing in cars that are built to last. 

"As this list indicates, these are generally sensible consumers owning practical vehicles and making prudent choices to help them weather and survive an economy that has challenged so many," said Jim Landy, CEO of CarFinance. "This is not a list dominated by luxury vehicles – quite the opposite – and, with longer ownership cycles and the quality of even the most economical of vehicles higher than ever before, making that investment work for the long term can make a lot of sense in the current economic climate." 

Drivers who are ready to invest in their next vehicle can head to NJ State Auto Auction as they search for the right ride. The lot is filled with CARFAX-certified cars, trucks and vans, all at affordable prices, making it manageable for any motorists to invest in a new automobile.