Help with refinance process?

JesseG805

A credit union would probably give you the most competitive rate. I did mine through a local credit union and brought my apr from 4.7% to 1.8%. The whole process went smoothly. I didn't have to do any downpayment of any sorts. They just ran my credit and got me approved. My only issue was the fact that my sister had originally co-signed for me. The title said my name "or" her name. The DMV was charging me sales tax to completely remover her name and just leave mine. I ended up keeping her on the title and now plan to pay off my car by the end of the year... hope this helps.

scottIN

If you REALLY want to save money...pay it off. Get on a budget and throw every dollar you can at the car.

Cars are our largest depreciating purchase - and financing it (at whatever rate) makes them even worse. I went from a $732 payment to zero. Now we're throwing $5000 / mo. at my girlfriend's Cherokee to pay it off. It changes your life not to have a car payment. We're going from $1200 / mo. in car payments to zero. That extra $1200 gives us the room to buy a new house (which mostly likely will appreciate vs. depreciate).

I wish I had understood how stupid car payments are 30 years ago. Just started listening to Dave Ramsey about a year ago and in 2 months, will have no payments but my house. Once you really understand car payments (and any debt), you won't go down that road.

Not the answer you were looking for, but as someone who appears to be about twice your age, I wish someone had explained that to me years ago.