*Loan,banking and credit>>>refinance loan

Should I refinance my car loan if I only have $7000.00 left to pay it off?

I have a loan with Ford Credit. But I only have $7000.00 left on loan.

What is the benifits if I do refinance?

If your loan is half paid, you have paid about 70% of your interest. Most bank charge you more interest on the first half of the life of any loan . That's how the make their money. Source(s): Bill collector 35 years

The only reason you should need to or consider refinancing your auto loan would be to get a better interest rate or if you needed to lower your monthly payment by refinancing it to a higher term. Other than that I can not see any reason to consider refinancing your car loan.
Depends. If you can find a better rate, you could pay less per month. Or get a new loan and reduce the monthly payments.

Also, if you got an unsecure loan, you could pay off Ford and receive the title.

Where can one receive an unsecure loan?

The easiest place would be a social loan club like zopa (UK).
Or in the USA, you could go to prosper.
---quick link---
http://lendborrowclub.com

The short story...At the social loan clubs, they bid on your loan. There may be 50-90 or more people requesting the priviledge to offer you money at acceptable interest rates.

Robert
Tripped into it while surfing
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