Overhaulin'

where is the best place to refinance a car loan?

If credit unions are best, do they offer that on the trade in value or on the retail value of the vehicle?

Public Comments

1. Usually credit unions have good finance plans for cars. On a refinance the most they will go is 80% of book value if the car is less than 5 yrs old and limit the length of the loan to 5 yrs. On older cars the amounts will be less and the length shorter.
2. Bill is generally correct. A credit union is the best place because they offer the best rates. My credit union will refinance up to 90% of nada book value. If you owe more than the nada vehicle worth, you will not be able to refinance or you will have to come up with some sort of down payment to qualify. EDIT - They base it on the retail value.