“Transfering” a car loan? Is it just refinancing? And is refinancing a good idea?
Wednesday, February 18th, 2009
Tonya in TX - Duck asked:
I just saw a commercial saying if I join their credit union and transfer my car loan to them, I get a $500 Visa debit card. I’m not in it for the debit card. But if I transfer my car loan to them, am I refinancing? If I have a high interest rate now, if I change to them can I also get a better interest rate? What are the advantages and disadvantages to refinancing?
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I just saw a commercial saying if I join their credit union and transfer my car loan to them, I get a $500 Visa debit card. I’m not in it for the debit card. But if I transfer my car loan to them, am I refinancing? If I have a high interest rate now, if I change to them can I also get a better interest rate? What are the advantages and disadvantages to refinancing?
Caffeinated Content