Edmunds Answers

Voted Best Answer

  • avatar karjunkie 08/12/09 9:52 am PST

    If you have a cash line of credit under one or more credit cards and they offer you a better rate than the car loan you currently have, you can draw down on the card and save some money. Unless you belong to a credit union, you will not be able to refinance the car loan as you noted because most financial firms will not finance anything with that much mileage.

Answers

  • karjunkie 08/12/09 9:52 am PST

    If you have a cash line of credit under one or more credit cards and they offer you a better rate than the car loan you currently have, you can draw down on the card and save some money. Unless you belong to a credit union, you will not be able to refinance the car loan as you noted because most financial firms will not finance anything with that much mileage.

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