Is it smart to refinance a vehicle to get a lower payment?

Is it smart to refinance a vehicle to get a lower payment?
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1 Answer

Answer :

There is a formula to determine when it is advantageous to refinance a home – I’m sure your financial adviser can make similar calculations for a vehicle.
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Related questions

When you refinance a car, is it in any way possible for your payments to increase instead of decrease?

Description : When you refinance a car, is it in any way possible for your payments to increase instead of decrease?

Last Answer : Depends on the interest rate and the duration of the loan. However, bear in mind that the longer you take to pay for the car, the more it will cost you in the end. All that interest doesn’t come cheap.

Is using the "Home Affordable Refinance Program" a smart idea?

Description : Is using the "Home Affordable Refinance Program" a smart idea?

Last Answer : answer:Here is general information about the program. I found this in FAQ What are the interest rate and other terms of a refinance under HARP? The rate will be based on market rates ... over time as market rates adjust. The refinanced loans must have no prepayment penalties or balloon payments.

I am going through a divorce, my ex-wife needs to refinance,but we owe more than the house is worth we have a 1st&2nd fixed and never missed a payment in 10 yrs.also have a 740 credit score what can she do need my name off of the house.owe 300k worth 250k?

Description : I am going through a divorce, my ex-wife needs to refinance,but we owe more than the house is worth we have a 1st&2nd fixed and never missed a payment in 10 yrs.also have a 740 credit score what can she do need my name off of the house.owe 300k worth 250k?

Last Answer : You cannot get your name off the mortgage unless you refinance. You may be able to have her refinance the home if you sign a note for the difference between what she can finance for and what is owed. You can also contact the first and second lienholders and request a short sale without recourse.

Where online can I find a vehicle refinance calculator?

Description : Where online can I find a vehicle refinance calculator?

Last Answer : If your car payments are too high for you to handle, then you may want to consider refinancing your car. You can find a calculator at the following website, which will help you figure out your options: www.calculatorzone.com/calculator/refinance-auto-loan.html

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I would like to refinance to get a lower interest rate. my current interest rate is 12%.?

Description : I would like to refinance to get a lower interest rate. my current interest rate is 12%.?

Last Answer : To refinance you're best bet would be to contact a mortage refinancing lawyer. Here is a firm near you're area that does refinancing Avelo Mortgage LLC * (972) 653-7000.

I refinanced 4 months ago to consolidate debt and was suppose to refinance again to get a lower rate. Bank now says can't refinance before 6 months of payments have been made. Is this true?

Description : I refinanced 4 months ago to consolidate debt and was suppose to refinance again to get a lower rate. Bank now says can't refinance before 6 months of payments have been made. Is this true?

Last Answer : Untrue. I was promised an immediate refinance and it is 2 1/2 yrs. later and I have not been able to refinance. With Conventional loans there is no seasoning. FHA loans do require 6 months. ... There are obviously other issues which have nothing to do with the number of payments that have been made.

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Description : Is now the best time to refinance my condo?

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How to refinance a mortgage?

Description : How to refinance a mortgage?

Last Answer : Not a direct answer, but a related topic was recently discussed.

Now that the Fed has lowered interest rates another quarter point is it time to refinance our home mortgage?

Description : Now that the Fed has lowered interest rates another quarter point is it time to refinance our home mortgage?

Last Answer : It depends what rate and term you have now. Add in closing cost to what you owe and do an amoritization. Then compare it to where you are at now.