Is it worth it to refinance your current auto loan from like 8.5 to about 4 if you are about to trade it in? Or does your current interest rate really not matter on trade.
My thinking is less interest = smaller loan amount so your are not losing as much by trading it in.
If you are about to tade in your car, refinancing isn't really a smart decision. Most likely there are some fees that go into refinancing your car which makes your current car a greater liability. However, if the monthly payments are lower to offset those fees and the money saved per payment before you trade it in, then yes, it does make sense. It will all depend on your timeline till you trade it in. Hope it helps!
