Best Answer

If you refinance a car another down payment is usually not required. I refinanced a car to lower to payments and it added another year to the payoff date of the car. I wasn't required to give a down payment.

User Avatar

Wiki User

โˆ™ 2017-06-24 14:55:38
This answer is:
User Avatar
Study guides


20 cards

When buying a house can you get a larger house loan so you can pay off some of your credit cards and car

How long do you have to wait in Canada before purchasing a house after bankruptcy

What is a mortgage lien

Is home owners insurance required

See all cards
2 Reviews

Add your answer:

Earn +20 pts
Q: Can i refinance car loan with another down payment?
Write your answer...
Still have questions?
magnify glass
Related questions

What is the purpose of a loan refinance calculator?

The purpose of a loan refinance calculator helps you compare your current monthly payment of a loan from another financial institute. It helps you determine what the best rates are in various financial institutes.

Do you need a down payment to refinance a car loan?

No. Banks may ask but most lenders do not require a downpayment.

Where can I apply for an FHA refinance loan?

You can apply for a federal FHA refinance loan at your agent's office. Depending on the size of your agent's business, you will receive fast approval on many different packages, and the main factor is whether or not you have a substantial down payment for the refinance.

What is the best way to refinance a home loan rate?

The best way to refinance a home loan rate is to obtain another loan without having a mortgage. In this way in the event of inability of payment, the customer will be insured and not lose own home.

Is it possible to refinance an auto loan?

It is possible to refinance an auto loan. Refinancing offers the opportunity to lower your interest rate and save money over the term of your loan, which lowers your monthly payment.

What are the going rates for a refinance home loan?

Usually refinance loans are around 3.5% to 5%. But these numbers depend very much on your credit score and the amount to be borrowed, as well as the size of the down payment.

Can a refinance calculator show you how much money you can save?

A refinance calculator compares your current loan to a new loan. The comparison will reveal if you will save money by refinancing your existing loan, end up with a lower payment, and if you will save on interest and fees.

If you refinance a car does the overall cost of the loan go down?

No, if you refinance your car, your loan would stay the same until you pay it off.Answer:Refinancing implies changing the terms of a loan agreement - usually one or mor of the amount to be paid back, the interest, or the period (number of payments). Depending on the impact of these factors the cost can go up or down. Examples (with only the indicated change made):Lower interest rate payment goes downIncreased time of payment total payment interst goes upIncreased principle (the amount owed) payment goes up

What are auto refinance loans?

Auto refinance loans allow you to refinance your previous loan taking into consideration how much you have already paid on the vehicle. This generaly reduces the monthly payment as you are paying on the reduced auto price, but it will increase the interest paid as you will be prolonging your loan.

My mortgage is @ 5.625 fixed 15yr. I want to pay down the loan from savings to get a lower payment. W/ good credit can I get a no cost refinance & lower mo. pmts?

Yes since you are planning to pay some up front from savings. Use it as a down payment on the new loan and you can get a good deal.

Who does one talk to to refinance a loan?

If you want to refinance a loan, discuss it over with the company/people who you had a loan with in the beginning. Whoever you financed a loan with first, refinance with them again.

How can you reduce your car loan?

If you mean how can you reduce your monthly payments, you can refinance at a better interest rate or refinance for a longer term. If you mean how to amortize your loan over a shorter period, pay an extra amount on top of your standard loan payment. Beware of early payment penalties if you pay off your loan early. Check with your lender to be sure there is no prepayment penalty.

People also asked