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Sat 29 Apr, 2017 10:00 pm
I would really want to reduce my car payment so I'm thinking of refinancing the loan to lower the interest rate. I can also extend the term of the loan to lower my monthly payment. Do you think these options are good idea? FYI I'm not gonna sell my car to get a new one. I so love my car to do that, so that is not an option.
@Joey Albinson,
Extending the term of any loan means you will pay more over time, due to interest compounding.