How many of you refinance your car loans?
Is it a good idea? I have a pretty decent interest rate on my car. However, it could be a little cheaper.
By
sillycat
Posted on
02/15/08 Total Answers
3
Answers-
never. if you must borrow, pay off as fast as you can. a car is generally a depreciating asset.
Answer by :
amphitryon On Date
2008-02-15 19:55:42
Refinancing your auto loan is going to make it so while you may be paying a little less now, it might tack on another two years with interest on to the amount of time you are paying for the car. In the long run, you end up paying MORE.
I do not recommend refinancing a vehicle to anyone.
Answer by :
Constance B On Date
2008-02-15 19:56:44
If you think that you are paying a higher repayment amount for your existing car loan<!--then you can bring it down. With the help of refinance car loans, you can switch the loan plan with effective loan management.
http://best-loans.awardspace.com/refinance-car-loan-bad-credit.htm
If you think your lender is charging a higher interest rate on your car loans then you can look at the refinance car loans option. With the help of a refinance car loan, you can avail multiple benefits. Firstly, you may reduce-->your monthly costs. Secondly, you may avail a competitive interest rate. Thirdly, you could be getting a flexible repayment period. Overall, you will be managing your loan a lot better.
