Dear Terry,
We purchased a 2002 car about two years ago. We want to refinance for a lower interest rate. Is our car too old to refinance?


Cate

Dear Cate,
No car is too old to refinance if the owner has good credit. You should have no problem finding a lender, but interest rates are likely to be higher now than when you bought the car two years ago, assuming your credit situation is the same today as it was then.

Here are this week’s reader questions:
Savvy shoppers may get car with card
How do I get rid of a lien holder?
Is my car too old to refinance?
Does my car endanger my life?

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