They offered to drop my interest rate by 70% to 2.50%, but when I calculated the total cost, it turned out that it will actually cost me about 30% more during the life of the loan. Many people don't realize that just a lower rate won't save them money if they add huge costs for refinancing. IFS was very dishonest and avoided to provide me information, just like any other dishonest lender they will give you only an APR and your monthly payment and number of months to pay. They won't reveal the total cost, but you can calculate it yourself. After asking several times and showing me calculations she said that You will not be saving any money on this deal. You wanted a lower rate that’s why I went over it with you.