Auto Loan 26,000 – 72 months-23%, if i refinance. . . am i refinancing 26,000 or 50,000?

May 20th, 2010
by admin.

Okay so purchase price = 26,000
Loan at 23% for 72 months(6years)

If I refinance after 1 year. Am I refinancing all of that 23% intrest, or just the principal balance?

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5 Comments

  1. areyouserious? says:
    May 20, 2010 at 4:43 pm

    You must have some terrible credit to be paying 23%. If you are able to refinance, it would be for the balance of the loan ($26,000).

  2. lucky says:
    May 20, 2010 at 4:47 pm

    You will be refinancing a balance. It dosent sound like a very good deal. Usually cheaper to take out a loan from a bank that to finance usuing a car company.

  3. Camille says:
    May 20, 2010 at 5:26 pm

    There are many auto loan options available today. Today, stiff competition among auto loan financing companies