03-21-2012 12:57 PM
I am giving serious thought to refinancing my car loan. Since getting the loan in December 2009 at an 18 percent rate, I have worked hard to fix credit. I have had no new negatives, have added a couple of credit cards, and increased my income. Right now I am paying $409.89 a month. I am looking to get that lowered as well as reducing the amount of money I pay over the life of a loan.
My question is...how does this work? I get letters every week from Capital One about refinancing a loan. Are they are a reputable company? Can I keep my car when doing this? I am looking for some ways to go about doing this and any advice is appreciated. Thanks!