Auto refinancing (would it be the best option for me?)?

May 15th, 2010
by admin.

8 months ago, I purchased a car with a financing plan of ~$300/month for 24 months. However, I am losing hours at my job, and am having a hard time paying off a lot of debt. Would refinancing my auto loan be the best option considering interest rates are now near 0% and I can lower my monthly payments over a longer period of time?

Related Post :


Other post:


Posted in: Auto Loan.
Tagged: · · · ·

Incoming search terms for the article:


← Is there any way for a very low income person with bad credit to get a home loan?
Are consolidation loans worth it? →

2 Comments

  1. mister ed says:
    May 15, 2010 at 3:51 pm

    yes that makes sense if you can find some one to handle you loan but do not be shocked if your loan value on the car is less than the car is worth!!!

  2. Douglas L says:
    May 15, 2010 at 4:45 pm

    Interest rates are not near 0%. They maybe 0% on new cars but that is just a marketing ploy. The real interest rate is built into the price of the car. I suggest you talk to your current financing company. They should be willing to bend a little to prevent your debt from going bad.
    If they will give you the same interest rate but spread the loan over 36 months then that would be fair

Leave a Reply