All day long we are bombarded with messages on the television and radio that tell us that now is such a great time to either make a major purchase or refinance something. This could be a home refinance, car refinance, or anything else.
I was just doing some searching online for what interest rates were a couple of years ago. I came across an article from 2001 that talked about how getting an interest rate around 6.99% would be a great deal back then.
Well, just to compare I just did a search to find out what rates are like today. At several sites I saw interest rates to refinance a car loan in the in the 4% and 5% range. So if you were wondering if it is still a good time to get a refinance car loan, just look around!
The problem is that no one knows when the needle will turn and the rates will start going up again. It could be in a couple of months, or it could be more like next year.
But why wait to find out? The fact is that if you have a car loan with a high interest rate, now is a great time to consider refinancing that loan to get a better interest rate and lower payment. It just takes doing a little homework and shopping around to find out if that's the right move for you!
Keep in mind of course that this is not the right step for everyone to take. A refinance car loan may not be worth it if you only have a few years left on your loan. In that case, you'd probably be better to just pay it off as scheduled.
On the other hand, if you still have a long ways to go on your car loan and you have a higher than normal interest rate, you could probably save a lot of money when you refinance your car loan.
The key thing to do is to shop around and take a close look at your personal situation to be sure that it's the right move for you. Do some research, meet with a few lending institutions, and find out the smart way if this is the right move for you to make. - 30462
I was just doing some searching online for what interest rates were a couple of years ago. I came across an article from 2001 that talked about how getting an interest rate around 6.99% would be a great deal back then.
Well, just to compare I just did a search to find out what rates are like today. At several sites I saw interest rates to refinance a car loan in the in the 4% and 5% range. So if you were wondering if it is still a good time to get a refinance car loan, just look around!
The problem is that no one knows when the needle will turn and the rates will start going up again. It could be in a couple of months, or it could be more like next year.
But why wait to find out? The fact is that if you have a car loan with a high interest rate, now is a great time to consider refinancing that loan to get a better interest rate and lower payment. It just takes doing a little homework and shopping around to find out if that's the right move for you!
Keep in mind of course that this is not the right step for everyone to take. A refinance car loan may not be worth it if you only have a few years left on your loan. In that case, you'd probably be better to just pay it off as scheduled.
On the other hand, if you still have a long ways to go on your car loan and you have a higher than normal interest rate, you could probably save a lot of money when you refinance your car loan.
The key thing to do is to shop around and take a close look at your personal situation to be sure that it's the right move for you. Do some research, meet with a few lending institutions, and find out the smart way if this is the right move for you to make. - 30462
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Do some searching and you'll find that rates to refinance a car loan are quite good at this time. Don't waste time! Start doing your research now to find out if a refinance car loan is the right thing for you to do.
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