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lilblue

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how do I refinance my auto loan
I've had my auto loan for a year, should I refinance. If so how should I go about doing so. My interest rate is extremely high.

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You can refinance

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If you think you can find a better rate.  Try your bank or Credit Union.  Credit Unions often offer better rates than anyone else.  Go in and talk with a loan officer to see if they will do a loan,  Realize that you may still be upside down on the original loan, Cars loose a lot of value once you drive them off the lot. But if the value is above what you owe on the origianl loan you could do it. 

Also check your origianl loan.  Some have heavy penalties for early pay off. You should be able to find out in the paperwork or call the lender and talk to them.  You should know this before you apply for a new loan as it will probably be included in the pay off amount. You may also want to talk to the original lender they may be willing to refinance the loan for you .

Good luck.

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