When Is The Best Time To Refinance A New Car


One of the most frequently asked questions is “When should I refinance a new car?” There are actually three good reasons why you may want to refinance a new or used car. The first is because your interest rate has increased from when you bought the vehicle and your monthly payments have gone up. If this happens, it’s often best to get re-financed with a different lender instead of trying to negotiate an interest rate reduction on the existing loan at that time. Another reason may be if you’re paying more than 30% APR for your payment amount and getting only limited use out of the vehicle. It makes sense to see what else can be done with your current financing agreement, such as lower monthly rates or buying options like extended warranties which will increase its value over time. Finally, there are those who simply don’t know how much they need their vehicles until after buying them – perhaps they rent another car for daily transportation needs during peak commuting times – so refinancing allows them to buy something more fun that fits their lifestyle better while having no additional debt obligation after purchasing it!