if you transfer your loan to them and the time your financing changes from like 24mo to 36mo…you’re definetly refinancing your loan. if you transfer your loan and you keep the same amount of time your financing, but your rate is lower…that is a good thing for you. you don’t want to extend your term UNLESS you’re having money troubles. reason; cars depreciate so fast that if you want to trade your vehicle for another in the next year, you’ll be screwed because you’ll owe more on it. YOU DON’T WANT A LONGER TERM. JUST A LOWER RATE

It would be refinancing as they would be paying off your current loan and they would become your new lien-holder.

As to interest rate, you’d have to talk to them to find out if you’d qualify for a lower rate with them.

If the rate is lower and they finance you for a similar number of months to the number you have left in the current loan - this might be a good option.

You should figure out how much you will pay if you stay with your current lender (number of months left in loan * monthly payment) and then compare to the number of months the new loan would be * the new payment to figure out if this is a good deal.

It’s not a bad idea to get yourself a better deal. You want to look into the company and see what they have going on behing the scene. And check with the company you have now . . . some charge a pretty high fee for switching before your loan is complete. Talk to a consultant for the new company,and from your current company. Tell your current company that you are looking at changing (don’t give names) just what interest rate you’ve been offered. They dont’ want to loose your business and may be willing to lower the rate. Go from there.