Save Big by Refinancing Your Car Loan

I also caution you not to use the refinance as an excuse to extend your loan. If you have four years left on your five-year car loan, don't refinance into another five-year loan. Instead, get a four-year loan. Or, better yet, use the savings you achieve from the new interest rate to refinance into a more aggressive two- or three-year loan. If you do that, you will be paying interest for fewer years and will save even more money.

Share Your Ideas for Saving Big

Make sure your current loan doesn't have a prepayment penalty. And bear in mind that not all vehicle owners qualify to refinance. If you owe more on the vehicle than it's worth, that will likely disqualify you and often lenders don't want to take a chance on older vehicles.

Fun stuff! Do you know of a way to SAVE BIG -- more than $1,000 in less than a year -- that might wow me? Think you've got one I've never heard of? I will curse you and admire you! Bring it on! Write to me by clicking here.

-- This embed didnt make it to copy for story id = 9374418. -- This embed didnt make it to copy for story id = 9374418. -- This embed didnt make it to copy for story id = 9374418. -- This embed didnt make it to copy for story id = 9374418. -- This embed didnt make it to copy for story id = 9374418. -- This embed didnt make it to copy for story id = 9374418. -- This embed didnt make it to copy for story id = 9374418. -- This embed didnt make it to copy for story id = 9374418. -- This embed didnt make it to copy for story id = 9374418. -- This embed didnt make it to copy for story id = 9374418. -- This embed didnt make it to copy for story id = 9374418.
Page
  • 1
  • |
  • 2
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...