http://ficoforums.myfico.com/t5/Auto-Loans/To-refi-or-not/m-p/1614490#M25059 <p>you would save a total of $1,220 over 6 years. It all depends on if you want to fork over 2500 now for $1220 over 6 years (total of 3720 over 6 years)</p> Fri, 28 Sep 2012 22:43:54 GMT tylaw13 2012-09-28T22:43:54Z http://ficoforums.myfico.com/t5/Auto-Loans/To-refi-or-not/m-p/1614032#M25055 I recently bought a vehicle for $37,500 at 5.29% over 6 years. My out of state credit union offered to refi it at 3.99% over 6 years. The catch with them is because I don't live in their state, they can only approve me for $35,000. Is it worth paying $2,500 out of pocket to knock it down to $35,000? The monthly payment would be $547 compared to $609, saving $62/month. Fri, 28 Sep 2012 19:50:57 GMT http://ficoforums.myfico.com/t5/Auto-Loans/To-refi-or-not/m-p/1614032#M25055 vegas757 2012-09-28T19:50:57Z http://ficoforums.myfico.com/t5/Auto-Loans/To-refi-or-not/m-p/1614490#M25059 <p>you would save a total of $1,220 over 6 years. It all depends on if you want to fork over 2500 now for $1220 over 6 years (total of 3720 over 6 years)</p> Fri, 28 Sep 2012 22:43:54 GMT http://ficoforums.myfico.com/t5/Auto-Loans/To-refi-or-not/m-p/1614490#M25059 tylaw13 2012-09-28T22:43:54Z http://ficoforums.myfico.com/t5/Auto-Loans/To-refi-or-not/m-p/1616000#M25070 <blockquote><hr>vegas757 wrote:<br>I recently bought a vehicle for $37,500 at 5.29% over 6 years. My out of state credit union offered to refi it at 3.99% over 6 years. The catch with them is because I don't live in their state, they can only approve me for $35,000. Is it worth paying $2,500 out of pocket to knock it down to $35,000? The monthly payment would be $547 compared to $609, saving $62/month.<hr></blockquote><p>If you can afford paying the upfront money I think it is well worth not paying the extra interest.</p><p> </p> Sat, 29 Sep 2012 23:40:17 GMT http://ficoforums.myfico.com/t5/Auto-Loans/To-refi-or-not/m-p/1616000#M25070 LS2982 2012-09-29T23:40:17Z