Refinancing your car means taking out a new loan and replacing it with a new one. Your new loan will cancel your old loan and you'll start making payments to your new lender 6 days ago. Since refinancing involves applying for a new loan with new conditions, you basically start from the beginning. However, you don't have to choose a term based on the term of your original loan or the remaining repayment period.
Refinancing is an opportunity to start over with your loan, so take the time to apply with several auto loan refinance lenders. For example, if you're refinancing your mortgage, you might find that the top mortgage refinancing lenders offer several repayment terms, including terms of 10, 15, and 30 years old.
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