UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: aj485 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308881  
Subject: Re: update Date: 9/9/2012 12:18 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 4
What I wanted to do is refi to 60 month biweekly at Sunwest.

Would you still be making extra payments that will be at least $495 every 4 weeks? If not, the Sunwest loan will end up costing you more in interest than keeping the current loan in place and making the extra payments as you are doing.

No refi fees at all.

Since you are currently financed through Arizona Federal, wouldn't you have to have the title re-issued showing that loan is satisfied, and the new lienholder is Sunwest? How much does it cost to have a new title issued? That's a cost you would not incur if you don't refinance, so it's a cost of the refi, even if it's not charged directly by the CU.

If my car isn't upside down and they will allow the refi.

You need to look at the total costs (including things like having to re-issue titles) over the term that you will pay off the loan, not just the rate.

AJ
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

The Story Behind the Story
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement