Can I refinance my car?

Can I refinance my car?

Janet Bodnar (Deputy Editor, Kiplinger’s Personal Finance) gives expert video advice on: How can I determine how much I can afford to spend on a car?; Should I buy a new car if I still owe money on my current car? and more...

You can refinance your car, but the question is would you want to refinance your car? The real reason for refinancing your car, as with any loan, is that you can actually get a loan with a lower interest rate. So it kind of depends on what's going on in the market. If you can actually get a lower rate than you have now, yeah go for it. But if rates have gone up or they are the same then it doesn't make any sense to do it.