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Many car loans are known as "DEMAND" loans

This means that the lender can demand full payment at anytime.

If you have this type loan they can require payment, and offer to refinance you in one smooth rip off.

Be care full!!This sounds like a scam as most financial companies won't do this.

Call your local government (State or Federal) and check to see if this is legal in your jurisdiction.

Finally if you are current with your payments and have a reasonable credit rating you can get a better deal somewhere else.

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Q: Do you have to pay another down payment if the auto financing company you financed with is taken over by another company?
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