Car refinance mistakes | DON'T MAKE THEM! refinance

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Car refinance mistakes | DON'T MAKE THEM!

Car refinance mistakes | DON'T MAKE THEM!

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Car refinance mistakes | DON'T MAKE THEM!
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32 comments

COMMON CENTS MIKE 21/02/2022 - 5:20 Chiều

Hopefully this helps to clear things up! Check out my video on RateGenius if you need to refinance! https://youtu.be/PreeQ9izAJY

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Champion Boy 21/02/2022 - 5:20 Chiều

How long should i wait to refinance my car?

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Brandon Sheaffer 21/02/2022 - 5:20 Chiều

I was able to secure a loan on my truck for 11,300 at 2.49% for 36mo. My credit score was 697 and history was basically non-existent with only a $400 credit limit at the time. I think my saving grace for being able to obtain that interest rate was because I shopped for a used vehicle, chose bi-weekly payment options, and chose a short term length. I also put $4000 down in cash. You don’t gotta have a perfect score or great history if you do a few little things to prove on paper that you’re more than capable of repaying the loan. I wasn’t trying to buy a 2021 Ford F-150 king ranch fresh off the lot with my shit history. I got an older vehicle that was well within my price range and went from there.

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Jasmine Shakir 21/02/2022 - 5:20 Chiều

.

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xMrg17 21/02/2022 - 5:20 Chiều

Can I refinance my car through a new lender? Or am I obligated to stay with the same lender?

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Rose Bailey 21/02/2022 - 5:20 Chiều

I bought a 2018 HighlanderXLE… low miles about 2 years ago. Terms of loan: 60 months, interest rate 3.75%. Our Credit Union said our Vehicle is valued at about— $34K. I owe about $17K.
I inquired about a refi loan to pay credit card debt off at a lower interest rate, current rate—14% interest. My Credit Union offered me a Refi loan on my vehicle 3-4%… they still have to run the numbers…Is this a Wise thing to do?

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X X X 21/02/2022 - 5:20 Chiều

I am currently at 72 Months 2.49% at 675 a Month.
I am refinancing after 1 year, but it will be 1.99% at 72 Months.
So it ends up being a 7 year loan total, but lower monthly and lower rate should help a decent amount 🙂

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martin landaverde 21/02/2022 - 5:20 Chiều

Thank you,how many times I can refinance if I’m in a 5 year term.

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drippy menace 21/02/2022 - 5:20 Chiều

Im considering to apply with rate genius but I honestly don’t even know where to start, I have an interest rate of 14% for 72 months for a honda civic 2019 and currently I pay $480 monthly. Also, does rate genius have any hidden fees or does that depend? Anything I should look out for?

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Kimberly Carswell 21/02/2022 - 5:20 Chiều

I just found out that I’ve been paying on my car loan for almost 2 years. 10,000 has went towards interest and 3,000 towards my principle. My interest is 9.35 per DAY. Is that normal. In the backend I currently owe $989.

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Mukade ⑬ 21/02/2022 - 5:20 Chiều

Hey I’m new to all this and just financed a car at a dealership and I think I’m being ripped off with interest, how would I even go about refinancing with a bank or credit union ??

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Cesar Mena 21/02/2022 - 5:20 Chiều

Would it be smart to go from a 50 month loan to a 48?

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TotalBodyBeauty 21/02/2022 - 5:20 Chiều

Thanks for the info! I have one question…if you only refinance for the loan amount, what happens to the balance of the interest your currently owe? Thanks!

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Just Chillin 21/02/2022 - 5:20 Chiều

Long term sucks,, definitely get short term, i am paying way too much for the long term,, they wouldn't even let me pay more towards the principal at the start. Would be more than half done paying if they did, but well that comes with doing it with bad credit

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Angel Caicedo 21/02/2022 - 5:20 Chiều

I’m at 6.25 apr and If I drop at 3% which I did the math. I save 1400$ of my contract if I still have the loan term. Is it worth it ? Or should I trade in my vehicle ?

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Leila Martinez 21/02/2022 - 5:20 Chiều

What should i do? My dumbass recently got a used 2015 hyundai tucson with 21.89% interest rate and owe $23,000 for 60 months? My first payment is on October 22nd? Should i refinance or wait until i get my credit up?

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Kelvin Garcia 21/02/2022 - 5:20 Chiều

I bought a 2020 car 6 months ago for about 16,500 and finance it for 4.60% for 66 moths . I currently owed 14,800, My goal is to pay it down too 10,000 (hopefully by January) and refinance it for a lower interest rate and maybe 24-36 months even if it means paying a little more monthly. You thiink is a god Idea?

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Tammy Plaza 21/02/2022 - 5:20 Chiều

Am I able to refinance towards a different vehicle?

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GioWithTheDripツ 21/02/2022 - 5:20 Chiều

Would You Recommend Lowering Your Monthly Payments And Still Pay The Same Amount You Are Spending Atm Etc? I Pay $500 every month payment is $475 And I Want To Lower My Monthly Payment To $375 And Still Pay $500 Every Month. So Interest Wont Really Kill Me If Im Still Paying The Same Amount. Will It Also Help My Credit?

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HaKing B 21/02/2022 - 5:20 Chiều

Am I able to refinance my current car and I have a charged off auto loan ?

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Melissa Murphy 21/02/2022 - 5:20 Chiều

I just Refinance my car through a credit union bank my old lender I was dealing with was paying a high-interest rate on car 22.41 when I switch over the interest went down to 6 percent BUT am concern about something the old loan I had with the other company ($8,958.31) but when the bank paid off they paid them ($9,196.93) now I see my balance with the credit union bak with less interest rat the balance rem
aining is  $9,438.11 why it went back up if I owed them $8,958.31 which that was the principal credit union bank 
they did say they don't charge penalty if i want to buy out fast

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LegacyTV #LGC 21/02/2022 - 5:20 Chiều

if you pay your monthly payment with the same amount of money as your previous monthy payment would that make the new term shorter? Is that what you were saying?

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Michael Foshodiz 21/02/2022 - 5:20 Chiều

I have 24% percentage interest my pay off is in 2023 should I refinance with credit union or pay a little extra money to pay it off?

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KimmieKakez 21/02/2022 - 5:20 Chiều

Hi! What happens to the extended warranty and gap after a refinance? Is it still valid? Or just it be repurchased?

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Bry Marie 21/02/2022 - 5:20 Chiều

Is there another way to find out my pay off amount other than calling my lender? Would it be on my cars payment website ?

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Ask Me 21/02/2022 - 5:20 Chiều

I bought a brand new car. 14.2% interest rate 420 bucks a month. 7 year loan. I am being scammed with how much I’ve paid vs how much my loan has went down.

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Francisco Guerrero 21/02/2022 - 5:20 Chiều

Necesito un representante en español

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garrett laurel 21/02/2022 - 5:20 Chiều

I have a 23% apr….

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Zaturn Nep 21/02/2022 - 5:20 Chiều

One thing I did not see be mentioned when refinancing, especially if the vehicle was bought at a dealership, is GAP insurance refund. You can get a refund for GAP insurance, when refinancing, unless stated otherwise on the policy of carrying over.

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awwiwwies 21/02/2022 - 5:20 Chiều

Is open road lending a good place to refinance?

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Jared Hinton 21/02/2022 - 5:20 Chiều

Is it worth it to refinance with the included new finance charge, and is the finance charge avoidable?

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Riko Valentine 21/02/2022 - 5:20 Chiều

@common cents mike I’m trying to refinance my car that’s at a 16% interest rate. Capital one is offering 9.13% interest rate but charging $5000 to finance and it seems a little counterintuitive to agree to that. Can you shed some light? The goal is to save money on the interest.

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