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    HogleLover's Avatar
    HogleLover Posts: 55, Reputation: 4
    Junior Member
    		  
    #1

    Oct 16, 2007, 08:31 AM
    Refinancing my car
    Is there a certain amount of time that I need to have had my car before I can refinance it and get smaller payments? What is the process... and how would I go about starting it?

    Any kind of help would be awesome. THANKS!

    :rolleyes:
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Oct 16, 2007, 08:34 AM
    I moved this to the credit forum where it really belongs.

    The answer depends on the terms of your loan. Some loans will have a prepayment penalty. So you really wouldn't want to refinance until after that period. Also what makes you think you will get lower payments? Unless your loan has a very high interst rate and/or a short term, you may not be able to lower your payments.
    HogleLover's Avatar
    HogleLover Posts: 55, Reputation: 4
    Junior Member
    		  
    #3

    Oct 16, 2007, 02:18 PM
    Quote Originally Posted by ScottGem
    I moved this to the credit forum where it realy belongs.

    The answer depends on the terms of your loan. Some loans will have a prepayment penalty. So you really wouldn't want to refinance until after that period. Also what makes you think you will get lower payments? Unless your loan has a very high interst rate and/or a short term, you may not be able to lower your payments.
    Thanks anyway...
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