Everyone seems to be refinancing their mortgages these days but my question is has anyone refinanced their car loan? I read that you can do it and there aren't any fees associated with it like a mortgage.

I'm going to look into it this week and was wondering if anyone has already been through the process. Thanks!!

absolutely.. I did it with my overpriced Ford Exploder..

it makes you reset the terms of the loan.. (48-60 months)
BUT.. will cut your payments in half..
depending on what you owe of course..

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I did it by moving my loan from Wilmington Trust to my Credit union. I took a rebate but they thought they would get me on high interest financing 8% and I let them think that and I took my loan to Dover Federal for 4% interest.

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I lost power right after I posted this!! Never a dull moment.

I'm going to call the company that we have the loan through now and see what they say first. I'm not even sure what our interest rate is - that's bad!! We already have a five year and I don't want to push it out any further. I just want a lower rate - I'm sure we are being raked over the coals!!

I can't imagine most people having a high rate. For the last 5 years the manufactures have been offering very low rates. We bought the T-Bird in 03
and Thank God in Sept. it will be paid off but the rate was only 2.9%

What a happy day that will be

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