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Archive for August, 2006

Question: Can i refinance my car?

I bought a car with a loan for 5 years with Toyota Financial. It's been 2 years of payments so far. When I financed the car I had a good Credit Score but a short credit history (been in the country for 3 years only) so I got a 7.9% interest rate. Can I call Toyota Financial and ask them to lower my interest rate? Instead of going through another lender and re-financing?

Answer: I agree with the first poster, the only way to change rates is to refinance and since the vehicle is now used with miles on it you will not be able to get a better rate then you already have.

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