I am wondering if there is a way to change my current car loan with a bank to another bank with better loan rates??
PLease any help…
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- What happens to your current car loan when you get a new car?
- Can I transfer my auto loan from one bank to my personal bank that I bank at?
- What happens to your current car loan when you get a new car?
{ 5 comments… read them below or add one }
Just go to the new bank and ask to refinance your existing car loan. They will then payoff the current existing lien holder and place themselves as the new lien holders on your vehicle registration. Credit Unions sometimes offer lower loan rates than banks. Check around
Have your new bank payoff the loan with your old bank.
you can’t refinance a car loan – chances are until you have about 15 payments left on the loan, the car is worth less than the loan balance and you probably wouldn’t save more than a couple of dollars a month anyway – you wont get much different of a rate
You would have to refinance the loan.
As one other person has said probably better and easier (less time consuming/less money) to just finish paying it off at your current bank.