2007-10-01 06:07:06 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I've refinanced 3 or 4 times and never paid a fee.
I usually grind the dealer on price and let him rip me off on the financing. They don't care where the money comes from. Then I re-fi at my credit union. Ticks them off big time, and all totally legal!
2007-10-01 06:31:08 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Who are these people saying you can't refinance a car? Of course you can. You just get a new loan on it for the amount you owe. Some banks have a loan fee, but some may not. Shop around.
2007-10-01 13:37:52 · answer #2 · answered by Flatpaw 7 · 1⤊ 0⤋
Depends who you refinance through though. Remember when you refinance a car your losing all that money you put into it already. So if its at the beginning of the loan, if you just got the loan, and you are refinancing it then you really wont lose alot of money. But if youve paid $5000 into the car already and your refinancing your not refinancing what you have left on the car, your refinancing the total amount that you originally had on the car. So for example.
When you bought the car it was $10,000
youve paid $5000
Say your interest rate is 15%
when you refinance your refinancing $10,000 at a lower rate say 8% so now your paying the $10,000 ALL over again and that $5000 is out the window.
2007-10-01 13:12:52 · answer #3 · answered by cougarkean 2 · 0⤊ 2⤋
you CAN'T refinance a car - forget it - not going to happen - you're stuck
2007-10-01 13:11:47 · answer #4 · answered by Anonymous · 0⤊ 3⤋