With the lower interest rate your monthly payment decreases and you have to make single monthly payments as now there is just one loan to pay back. (kingofkash.com)
For consumers that are approved, they can consolidate their debt into one single monthly payment at a lower interest rate. (debtmerica.com)
Pay off the loan in single monthly payments, the interest rate will be considerably less than what you would pay on a typical credit card. (mortgagetalkcanada.ca)