harlenm
10-09-2012, 09:10
Some of you may know that I recently won a lemon law claim against Ford, and I have my new car now. Loan info transferred to the new car, so I have 46 payments remaining. I was thinking about refinancing it to a new 60 month term, with the same interest rate, 2.49%, which would lower my payment by around $175 a month.
Total at the end of 60 months is almost identical to the total that I'd pay over the next 46 with the current loan.
I can't see any downside except paying it out over an extra 14 payments, but it won't cost anything additional.
Ideas????
Total at the end of 60 months is almost identical to the total that I'd pay over the next 46 with the current loan.
I can't see any downside except paying it out over an extra 14 payments, but it won't cost anything additional.
Ideas????