Negotiate with a lender
If interest rates with a lender have been bleeding you dry, and you have enough cash coming in to pay for immediate needs, you could buy down your rate. Some lenders, like mortgage or car lenders, will accept a one-time cash payment that lowers your rate. So, say you’re paying seven percent on a car loan. Maybe you can negotiate with the lender, give them $1,000 now and have them drop your rate to 5.5 percent. If you have a long loan and a large principal, those long-term savings could equate to way more than $1,000 in the end.