refinancing

[djc]

anyone here refinance their car? i'm thinking about doing it...what are the pros & cons? i've had my current loan for 6 months. any good refinancers to check out? thanks in advance, DC

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[4Saris]

Originally Posted by djc

anyone here refinance their car?
i'm thinking about doing it...what are the pros & cons? i've had my current loan for 6 months. any good refinancers to check out?
thanks in advance,
DC

I never have refinanced because generally I get the associated manufacturer lender rate when I buy the car (1.9% on my current Civic from AHFC). I spent a few years underwriting auto loans so I do know this aspect and there are many factors that play into re-financing a car.

-Your Credit and changes to it since you purchased your car.
-Your Current Interest Rate
-The value of your car versus the loan amount (LTV= Loan To Value)

I would check out your local credit union if you have decent credit or the on-line banks like Capital One Auto Finance

[Logan3024]

Originally Posted by 4Saris

I never have refinanced because generally I get the associated manufacturer lender rate when I buy the car (1.9% on my current Civic from AHFC). I spent a few years underwriting auto loans so I do know this aspect and there are many factors that play into re-financing a car.

-Your Credit and changes to it since you purchased your car.
-Your Current Interest Rate
-The value of your car versus the loan amount (LTV= Loan To Value)

I would check out your local credit union if you have decent credit or the on-line banks like Capital One Auto Finance

Great info man!

AHFC ftw!