Refinancing >> Car Payments >> Could it cause my interest rate to go UP? - car refinancing
I paid my car for over 2 years. I know it is possible to refinance, "". My credit score is probably a little sadder than it was when you bought the vehicle. Is it possible to refinance that explode in his face that might be in a higher interest rate?
Saturday, January 23, 2010
Car Refinancing Refinancing >> Car Payments >> Could It Cause My Interest Rate To Go UP?
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2 comments:
If you had your car new when you bought it, then, in most cases, the new loan for a used car loan is based. and uses the interest in cars are higher. Another idea is that you can refinance your car if it has a certain age with a large number of lenders that offer omly achieved for another 5 or 6 years old good car. Have you talked with your current lender to see if thay can offer a lower amount. You can, if they paid on time and in good standing with them
Yes, if your credit is not so good, you get an interest rate higher. In addition, the age of your vehicle can make a difference. If your original loan was a new car or a new model for a car loan, the interest rate would be lower. Two years later, it's just a used car and the best interest rate is higher than the rate for a model later.
Even if you refiannce loan and 5 years, you are extending payments and accrue more interest on the loan.
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