Auto loan refinance

Hello thereā€¦ Please read this and let me know whether or not it would be worth refinancing my auto loan.

I have an auto loan of $12,600 which is current. The interest rate is 13.20%. My balance right now on the loan is $11,000 but I have been making extra payments. My car is worth around the same amount of the balance on my loan right now.

1 Answers

You should have equity in your car in order to get a refinance for your car loan. You should check out the present car loan rates available in the market and check out whether or not you're getting a lower interest rate from what you have now. You can apply for a car loan and check out what type of rates and terms you may get. The lender will check your situation and let you know whether or not you will get a car loan refinancing.


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