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Article: Refinancing a Car Loan.
- Article from:
- Kiplinger's Ask Kim Web Column
- Article date:
- July 3, 2003
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Copyright informationCOPYRIGHT 2003 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline:Kimberly Lankford, Kiplinger Washington Editors
I still owe about $10,000 on a car loan at 7.5% interest, but I see new car loans going for 2.9% or less. Is there any way to refinance my car loan to a lower rate?
You won't find nearly as many ads for car-loan refinancing as you will for mortgage refinancing, but it's worthwhile to look into it. Only a handful of lenders refinance car loans, and the rates are higher than new-car interest rates. But you still could save quite a bit of money by trading in your old loan for a new one.
Check out E-Loan, which is offering ...
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