Should I refinance my car loan if I'm halfway through payments?

Go too your bank or credit union if you already have a relationship with one. I'd probably recommend a credit union. Rates are generally better, in my opinion. Sit down. Speak to a loan assistant about doing so. You'll fill out a small application. They'll know how much you're seeking. Then they'll pull your credit report. They'll discuss your options: interest rates and loan terms. I work at a bank. I can vouch for how simple the process usually is for moving forward.
 
Once I hit ~$2k, I started adding extra to it & got it paid off in ~8 months instead of 12. They actually ended up owing me money back lol. Wasn't much tbh, but I got some cash back
 
Depends tbh.
Refinancing could get u a better rate & lower payment.

I finally qualified for a lower rate last yr, but to lower the payment it would’ve added 9 months to my car loan. I did the math & overall it only would’ve saved my $50. I just kept it as is. It’ll be paid off in April (6 months early!)
 
Go to the place you want to refinance with or fill out on line application. I did this once... through my credit union. They will have you come there to check out the condition of the car and then give the check in exchange for the title from where ever you are paying it off from. I did it to free up money... I was able to extend the loan at a lower rate which worked out for me.
 
Back
Top