Should I refinance my car?
The answer depends on the rate, term, fees, vehicle, and your goals.
When it may make sense
Refinancing may be worth exploring when your credit profile improved, market rates changed, or the current payment structure no longer fits.
When to be cautious
An older high-mileage vehicle, very small balance, negative equity, prepayment cost, or an extended new term can reduce the benefit.
Questions to ask
How much will I pay each month, how long will I pay, what are the fees, and what is the total cost from today forward?