Do you have to wait up till a year on your current car loan to re-finance? Or could you do it at anytime?

 

You can do it anytime but check your note for a pre-payment penalty.

 

Most car loans are simple interest and you should be able to re-fi at any time without a penalty. We financed ours for 5 years, and then paid it off about 25 days later. Our only finance charge was for the days we used the money, about $90 total.

 

I want to re-fi, because after seeing everyone else interest rates, I figured I could get mine lower. I was so exicted about getting my z, last sept. that i didn't do any research on loans. I just took what the dealer gave me. With little hagging
SteveZzz
I know i would not be able to pay loan off in the next 25 days. So i am looking for re-fi without a penatly. Also by re-fi will this count against your credit report?

 

No, it won't impact your credit, assuming you're making payments on time. It will show you took out a loan, made payments, and then paid it off early (that's fine). Then the new loan will show up.

It's just like refinancing a home. You're doing it for a better rate. Again, as long as it's simple interest, you'll shouldn't have any hidden charges for the early payoff.

 

Igot 36000 at 645 month what are you all paying black enth. auto.

 

Unless your interest rate was very high at origination, you will have a difficult time getting a lower interest rate on what is essentially now a used car.....

 

i got touring 6.29 intrest. 478

 

I got enthusiast (29,800) Put 3,500 down and financed 26,000 at 4.09 APR. My payments are 480 for 60 months.

I kinda hate having a bigger car payment than rent payment, but I can't help myself, I love cars.

-J

 

Holy Moly! Your rent payment is lower than $480/mo? What is your rent payment? What do you get with that?

Pardon my amazement, but rents in Cali [Bay Area] are generally more than double that price...