I bought a new car about a year and a half ago which I'm making payments on. My credit waa fair, but not nearly as good as it is now. I tried to get refinanced but the bank told me they wanted a 5k down payment and would finance the rest at 3.99 percent.
I should have done more research before applying, because I didn't think they would ask for a down payment.
My question is.. What happens if I decide to go for it and later down the road want to trade in my car? I'm pretty sure I'm gonna want a different car in a year or two, so I'm not even sure I should go for this. Is this smart if you plan to trade in within the next year or two? Also, is it routine for them to want a down payment on a re finance? I'm also wondering if I should try a different bank.
My current apr is at 6.99%



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