How is Your Current Car Loan Rate?
Every day on the television we hear the news anchors and advertisements talk about how low rates are, and how now is a great time to purchase or refinance. This could be to refinance a car loan, home loan, or any other kind of loan you may have.
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 big problem with the current market is that no one knows when it's going to turn around and rates are going to rise. It could be in a few months, or it could be in a few years. No one really knows!
So you really have two choices: you can wait and find out, and possibly miss out on some huge savings, or you can do some homework now to make an educated decision on whether or not this is the right move for you.
It's true of course that not everyone will benefit from getting a refinance car loan. For example, if you only have a few years left on your loan you will probably be better just paying it off the regular way.
However, if you still have several years left on your loan there is a good chance that you could save a couple hundred dollars a year when you refinance a car loan you already have.
The important thing to do at this point would just be to do some research and really assess whether or not this is the right step for you. Do some research, visit with a few lenders, and then come to a good educated decision as to whether or not this is the right step for you. - 21392
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 big problem with the current market is that no one knows when it's going to turn around and rates are going to rise. It could be in a few months, or it could be in a few years. No one really knows!
So you really have two choices: you can wait and find out, and possibly miss out on some huge savings, or you can do some homework now to make an educated decision on whether or not this is the right move for you.
It's true of course that not everyone will benefit from getting a refinance car loan. For example, if you only have a few years left on your loan you will probably be better just paying it off the regular way.
However, if you still have several years left on your loan there is a good chance that you could save a couple hundred dollars a year when you refinance a car loan you already have.
The important thing to do at this point would just be to do some research and really assess whether or not this is the right step for you. Do some research, visit with a few lenders, and then come to a good educated decision as to whether or not this is the right step for you. - 21392
About the Author:
Do some searching and you'll find that rates to refinance a car loan are quite good right now. Why wait? Start doing your research to find out if a refinance car loan is the right thing for you to do.
posted by X - Men @ 1:06 AM
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