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Old 10-09-2012, 09:10   #1
harlenm
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Join Date: Jul 1999
Location: CT
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Should I refinance my car loan?

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????
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Old 10-09-2012, 09:57   #2
Gallium
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With your current loan you can unload your new grapefruit 14 months earlier?
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