Is it a good idea to refinance my car?

Refinancing auto loans can be good idea if you are getting a reduction in APR, or monthly payment and can improve your monthly cash flow.

There is a risk and a challenge with this because cars typically go down in value. You could get stuck with more loan than the car is worth.

If the car loan APR is under 7% , we would tell you not to worry about paying it offer, and focus on your next step of the road map.