how many times can you refinance auto loan?


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5 Comments

  1. joemammysbigguns says:

    As many times as your financial institution will allow over the course of the loan.

    Most don’t want you doing it more than once a year – but it also depends on the amount involved – and your payment amounts.

  2. ruth4526 says:

    As many times as your bank allows.

  3. Byron M says:

    You can refinance as many times as you want, however that is impractical for the following reason.

    99% of the finance companies charge you the interest up front before you pay the balance or the “principal” of the loan. So if you transfer loans frequently you will *ONLY* pay your finance premium and not the actuall balance/principal of the loan.

    Be carefull and try to only re-finance once. Cars are impractical for multiple re-financing after a period of time not only because of depreciation but cost of lending and the above issue of how loans are funded and paid by your lenders.

  4. spifiman1 says:

    As many times as your bank will allow.

  5. Theresa M says:

    it depends on where you have your loan. They would make that decision.

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