Yesterday I got a phone call from State Farm (my insurance carrier) about refinancing my car loan with them. I gave all of my information and got a partial approval. I owe $23k with a 12% APR. They offered to an approval for $20k at 5.9%. So I am debating if I should use a line of card that I have, get the $3k difference and refinance it with SF. If I do, my payment goes down by $150 per month and my line of credit payment does not go up.
Advice?
