Don't Forget Your Auto Loan - Refinance?

With all the talk about refinancing don't forget about your car loan. I don't recommend rolling your car loan into home mortgage refinance. The reason is you just agreed to pay interest on a car for the next 30 years while you may keep it for only 5 years. Looking at it another way. Instead of paying of a 4 year car loan and paying $2000 in interest if you roll this into your mortgage you will pay about $6000 in interest over 30 years. So, what do you do about your car loan? Well you refinance it. Most of the time you can refinance your car loan for basically no extra money. Most banks and credit unions will gladly take on your car loan for better terms. Call them up or look on Bankrate to see what the rates are and what your payments would be. If it is worth the effort then refinance.