Best answer from question by tpattmoose:
Answer by roy40372
when you finance a car the first year you pay mostly interest and nothing on the principle so why would you want to refinance it after a year and start the cycle all over again of paying just interest.
Best answer from question by urbaninja54:
Answer by stubbywonder
You will need to make sure you are not upside down on the loan. It also would not hurt if you had some money to pay off a bit of the first loan. Be prepared to to pay a higher % rate.
Best answer from question by help_lulu_help:
Answer by Cara
Most people know that they can refinance their house, but fewer know that it’s possible to refinance a car loan, too! It’s become extremely popular in recent years. And it might seem like a silly idea, since most car loan terms are short–typically three to five years. If you got your car loan when rates were high, you may be able to get a lower rate now. Or perhaps, when you first obtained your car loancharge you any fees to refinance your car loan, it is possible you’ll have to pay to have the title of your car changed. So ask about any of these extra costs first to ensure the savings is worth the expense.