Long term auto loan vs short term (refinancing)?

Well i am 20 years old and not much credit history. I have good credit but not enough credit history which originally qualified me for my 60 month 8.99 APR loan for my car. Now that i have waited and built up my credit history I am looking to refinance for a better APR. Now my question is when i refinance to get... show more Well i am 20 years old and not much credit history. I have good credit but not enough credit history which originally qualified me for my 60 month 8.99 APR loan for my car. Now that i have waited and built up my credit history I am looking to refinance for a better APR.

Now my question is when i refinance to get a lower APR should i apply for a short term or long term loan. If i get a short term obviously i will get a little better APR but if i get a longer loan and pay more (example if my payment is 200/mo i will pay 500/mo towards the actual car) Compared to a short term where my monthly payment could be like 300-400$ and i wouldnt pay as much towards the car.

Which would help me pay off my car faster? The short term or long term while paying more twards the car?
Update: I want to refinance so i can pay more towards my car and not my interest rate. Im looking at paying this off within 2 years. My current loan i cannot pay as much towards the actual car so im paying way more towards interest and not paying off the car fast. Which is why i want to refinance so i can pay more towards... show more I want to refinance so i can pay more towards my car and not my interest rate. Im looking at paying this off within 2 years. My current loan i cannot pay as much towards the actual car so im paying way more towards interest and not paying off the car fast. Which is why i want to refinance so i can pay more towards the car and not the loan because as i said i want to pay it off within 2 years which is possible because i have a stable job.
8 answers 8