2007-01-31 14:20:13 · 9 answers · asked by Jennifer J 1 in Cars & Transportation ➔ Buying & Selling
If you have been using the same bank or credit union for a while, try them or another one that may give you a deal if you open up an account. My dealership found a lower interest loan and had me come in to switch the loan over. I ended up paying 4% interest on loan...
2007-01-31 14:51:43 · answer #1 · answered by Kathleen B 2 · 0⤊ 0⤋
It is possible to go to somewhere else like a bank or credit union to get the car refinanced. But check your contract before doing so. Sometimes there is a penalty if you pay it off too early. And basically that is what you will be doing. Paying it off to one financial institution and getting the money from another. Is the interest you would be paying worth any penalties for paying it off early...would you still save money???
I think you should have checked it out before signing the contract for the car at the dealership.
2007-02-01 04:13:50 · answer #2 · answered by just me 6 · 0⤊ 0⤋
I don't think there is anyway to refinance a car loan unless you take out a second mortgage/home eqquity on your home if you own one and have enough equity, otherwise you are stuck for at least 3 years or until your loan is less than the car is worth/you ahve equity in the car
2007-01-31 14:26:16 · answer #3 · answered by Anonymous · 0⤊ 1⤋
It quite relies upon on the dealership. while you're financing via GMAC or FMCC, then that's quite a lot the comparable as a economic employer - a economic employer that only occurs to be owned by using the vehicle employer. they're going to grant you greater strategies, many times, than any commercial economic employer will. while you're determining to purchase via what we call a "rock lot", then the interest fee would be very severe in the event that they "finance" it themselves. pay attention for those credit crooks as they're going to cost the utmost interest fee allowable by using regulation, many times 25%. in case you have a physically powerful working courting along with your credit union, i could supply them your employer.
2016-11-23 19:02:13 · answer #4 · answered by artzer 4 · 0⤊ 0⤋
Normally, you have to wait 6 months to a year to refinance your car. It's not as easy as just changing who you're financed by. Make all your payments on time and pay a little extra if you can. When it comes time to refinance, this will hel pyou out a lot.
2007-01-31 15:25:04 · answer #5 · answered by Archangela 1 · 0⤊ 0⤋
id check with a credit union the dealership might tell you you cant but thats because they might get charged for it. if i knew more info i could give more i used to be a finance manager for a large dealership email me if ya want to
2007-01-31 14:25:26 · answer #6 · answered by tiny likes clams 3 · 1⤊ 0⤋
Probably. If you finance a car through a dealer, they're making money on the financing.
2007-01-31 14:24:11 · answer #7 · answered by Anonymous · 1⤊ 0⤋
depends on your credit score. You may qualify for a special offer.
2007-01-31 14:53:06 · answer #8 · answered by mayhem 2 · 0⤊ 0⤋
Seems a little late to be asking now.
2007-01-31 14:26:54 · answer #9 · answered by TonynNC 5 · 0⤊ 0⤋