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Columns: Driving for Dollars
Terry Jackson   Expert: Terry Jackson
Driving for Dollars
Borrower unlikely to do better
Driving for Dollars

8 percent rate should please car owner
By Terry Jackson • Bankrate.com
 

Dear Terry,
We bought our 2007 Honda Odyssey last September and we are paying a car loan with an 8 percent annual percentage rate. So, right now we want to refinance the loan. When is the right time to apply for it?
-- Arthur

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Dear Arthur,
Since you bought the Honda, car loan rates have gone up. It's doubtful that you can do better than your 8 percent rate on a refinance. However, you can use Bankrate's compare auto loan rates feature to try to find a better rate.


This week
• Collector car market cools with economy
• Should I refinance my car loan?
• Can I exchange one car for another?
• Does a co-signer affect my car insurance?

If you have a question for Terry, e-mail him at Driving for Dollars. Save money on your car -- sign up for Bankrate's new weekend Car & Money newsletter
Bankrate.com's corrections policy -- Posted: April 18, 2008
Read more Driving for Dollars columns
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