www.websyte.com/subject Web Knowledgebase

Over 46,000 free articles designed to give you useful information on how to save money, make money, improve your health, happiness, and relationships.

Car Loan Refinancing - When To Refinance Your Car Loan

Google
Web www.websyte.com/subject
Select a Topic

Addiction
Adsense
Adwords
Affiliate
Article
Auction
Auto And Trucks
Auto Insurance
Baby
Bankruptcy
Bathroom
Blog
Business
Business And Finance
Children
Computers And Internet
Cooking
Credit
Dating
Decorating
Depression
Diabetes
Diet
Dog
Dog Training
Domain
Dvd Reviews
Ebay
Education
Email Marketing
Family
Fishing
Food And Drink
Foot
Furniture
Gadgets And Gizmos
Garden
Golf
Guitar
Hair
Health
History
Home
Home Business
Home Mortgage
Home Refinance
Home Schooling
How To
Insurance
Internet Marketing
Investing
Ipod
Job
Kids And Teens
Kitchen
Learning
Legal
Make Money
Marketing
Marriage
Massage
Maternity
Menopause
Mortgage
Online Business
Parenting
Party Planning
Pets And Animals
Photography
Real Estate
Refinance
Relationships
Remodeling
Retirement
Rss
Sales
Save
Self Improvement And Motivation
Shopping
Site Promotion
Speaking
Stocks
Success
Sudoku
Tips
Travel
Travel And Leisure
Voip
Wealth
Web Design And Development
Website
Wedding
Women
Work At Home
Writing

By Carrie Reeder

Want to save money? Lower your monthly payment? Then refinance your old car loan. Trade in your high interest rate loan for a lower rate, especially if your credit score has improved. You can also lower your payments by extending your loan terms, helping your cash flow.

Trading In High Rates

When rates drop, refinancing makes sense for both mortgage and car loans. Factor in the length of the car loan though when deciding whether to refinance. If you only have a year left on loan payments, then it wonít save you money to refinance since you have paid most of the interest up front.

You can also reduce your interest costs by refinancing for a shorter term. Reducing your loan by two years can easily shave over a thousands dollars off your interest charges, even with the same rate. Once again, you need to look at how long you have left on your original car loan to be sure you can save money.

Better Score, Better Rates

If you have improved your credit score since you first secured your car loan, you may find savings in better rates. So even if rates havenít dropped for the general market, you may still qualify for better rates.

Besides making regular, on-time payments, you can improve your score by reducing your debt ratio. Your score also improves when none of your accounts are maxed out.

Lower Payment, Longer Term

Reduced rates arenít the only reason to refinance. By rolling over to a longer term, you can reduce your monthly payment. Just remember that in the long run, you will be paying more for your car loan. However, when finances are tight, this option can keep you from defaulting on your loan or other bills.

Before jumping into a refinancing deal, be sure to investigate financing companies. Compare their APR, ask for free quotes, and read the fine print. Also check with your original lender to be sure there are no early payment fees. The best refinanced car loans are the ones where you save money. Taking the time to research financing offers will ensure that you find just such a deal.

About The Author: View our recommended Car Loan Refinance www.abcloanguide.com/refinancecarloan.shtml lenders.