Overhaulin'

Is it smart to refinance my car loan at this point of time?

i just wondering if i refinance my loan would my payment go down because of the stock crisis?

Public Comments

1. You got the point, and you are right
2. You probably can, as long as the rate would be lower, and can also try to get it for a shorter amount of time too. Bad thing is that you'd probably have to go to another bank, or credit union to do so. As the one your currently with will not refinance, since they got you locked in the particular loan already.
3. It totally depends on your personal situation. Is your current interest rate over 10%? Has your credit drastically improved since you financed your current loan? Do you have over 24 months of payments left to make on your vehicle? If the answer is 'yes' to all of these questions, then it is worth considering. If you answered 'no' to any of them, then it will not be worth your time.
4. It will depend on several things the biggest being do you owe less than your car is worth then what is your credit like? I don't like to tell my customer to refinance it means you will be in a car even longer and most people get tired of there car after 4 or 5 years or less. The interest rates are not as good as they were a few years back. If you need to refinance to help you because of a lost job or you are in a bad situation do it if you want to refinance just to lower your payment don't.