You’re contemplating refinancing your car for whatever explanation — a lower life expectancy rate of interest, better terms, to change from the rent to ownership. What precisely takes place when you are doing that? What are the results towards the old loan? What goes on to your credit? They are a number of the things that happen when you refinance your automobile loan.
The New Lender Can Pay Off Your Old Loan
Your lender that is new will your old loan off straight.