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Whens a good time to refinance my vehicle?

I purchased a 2006 jeep commander for 15,600 and my down payment is 1,000. I purchased it in April of this year and i pay 410.00 monthly because I'm 19 a male and establishing credit. the payment doesn't bother me because i will be promoted next year on July 1st. I'm sure so far Ive paid a great deal. i just wouldn't mind some extra cash. A friend told me to wait to the 1 year mark.

1 Answer

  • Al
    Lv 6
    1 decade ago
    Favorite Answer

    thats rediculas , i never heard of refinancing a car and doubt anyone would want anything to do with that . when you refinance a home it's different and you have to actually pay money to do so but if the money you stand to save by getting a lower interest rate should at least exceed one percentage point and thousands of dollars . most financial institutions would'nt waste thier time on such a matter as an auto loan because it's not in thier best interest given the small amount of money .

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