Car Refinance Options?

Mike Hoxbig said:
It's nice for me. I can't (or won't) afford an entry level Audi and I earn well. Wait until school starts, then come back and tell us if you can afford a new Audi...
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School is already factored into the future budget. Will start saving from next year into an investment account. And also dump any tax rebates in there.

Also didn't buy the Audi new and wouldn’t buy the next car new either
 
PotatoGuardian said:
I'm realising this. I thought I'd get a straight answer whether I could refinance or not but so far the questions have been useful to think about
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What do you mean by refinance? You already have it financed so what exactly are you hoping to achieve?
 
PotatoGuardian said:
Renegotiate the interest rate. Kind of like how you can do it with a home loan. Or switch banks. Not necessarily extend the terms
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Initiation fees and such will likely negate any benefit of changing banks.

Negotiations are to be done at the start of the loan by not accepting silly interest rates.

So you dump cash into it to bring the term down there by negating the interest.
 
Ϲhristopher said:
12.25% is high, but it's not going to make a substantial difference even if they get it reduced to prime.
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A young colleague at work wanted to buy a car recently. 23%, with no credit score.

I told him months ago, work on your credit score. One of the most important things in life

He ignored me
 
SauRoNZA said:
Initiation fees and such will likely negate any benefit of changing banks.

Negotiations are to be done at the start of the loan by not accepting silly interest rates.

So you dump cash into it to bring the term down there by negating the interest.
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Yeh this is valid thanks. Also didn't think about initiation fees
 
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