Question About Refinancing a Car?

refinancing

I have a car loan that I want to refinance. Here is the problem…my bank that I am financing through is about 100 miles away from my home and they say that I have to physically come to the bank in order to refinance there. Is it possible for me to take my current loan and refinance at a credit union/bank that is only 2 miles away from home or does it have to stay at the current bank?

Thanks so much.

What Does Refinancing Your Car Loan Mean?

loan

I’m sorry if this is a really dumb question, but earlier someone suggested I refinance my car loan, but I have no thought what that means. I looked it up online, and it said a touch about lowering your payment interest when you transfer to a new lender. Coudl someone please clarify in detail what refinancing your car loan does? Does it lower the amount of money you pay monthly? And if so, does that mean I would have to pay for more months?