Now that the interest rates are so low, has anyone considered refinancing their car loans? I only owe about 10k on my car, but my interest rate is 7.9%. I'm sure I could get a lower rate these days, but what do you guys think about this?

Check with your bank to see what fees/costs there are in refinancing, and do the math to see if it ends up costing you less or more. In my case, my credit union charges no fees, and I immediately took the bait and dropped my interest rate from 8.95% down to 5.75%.

I refinanced a couple months ago and got a much better rate, but my rate changes constantly, it's like the standard APR + 1% or something like that.. so if the rate is @ 5%, mine is 6.

Best thing about refinancing is that I got to skip 2 month's payments.. (i put another 7k into the loan when i financed too.. lower payments all together).

I refinanced about 3 months ago and dropped 2 full points.

-Dog

hm..i'll have to check w/ my bank and see what the deal is. 7.9% isn't too bad, but i'm sure there's much better out there right now...