I have never been real big on refinancing a car loan or any loan for that matter, it just prolongs the loan and hides how much you are actually paying by spreading the payments out over a longer time. 14% does seem rather high and and 72 months is a very long time to pay on a car, but unless you are getting a BIG drop in interest rate AND a shorter term, I probably would just bite the bullet and continue with the current loan. If you are able, pay more per month to reduce your pay back time; paying off early effectively reduces your interest rate as well.
Message Edited by xopher26 on 09-30-2008 07:08 AM