Overhaulin'

Should I refinance my car loan right away?

Hi, I recently bought a new car and got a rebate for financing through the dealer Mazda American Credit. Of course I got a higher interest rate. The dealer told me that I have to make 4 payments before I refinance which I found out is false. But my question is should I refinance right away or should I wait since it is still a fairly new loan.

Public Comments

1. Usually the interest rate on a used car loan (which your car is now) is higher than on new car loans. A website I've recommended in the past would be... http://www.safelinked.info/go.php?link=auto Hope that helps.
2. You are paying mostly interest at this point in time which makes you more upside down on the car with every payment. If you are really serious about refinancing, do it as soon as possible to keep from losing that money in interest.