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Before refinancing a car, you should do a little research to see if interest rates currently being offered on car loans are indeed lower than the interest rate on your current loan. You should be aware that car loan interest rates advertised by lenders are usually for new car purchases, so you will need to dig a little deeper to find out what the refinancing interest rate is. If the interest rates are lower, you should then compare your current balance against the actual value of your car to make sure that the amount you owe does not exceed the value of the car. You can do this using a car value website such as KBB.com.
When you choose your lender you should look not only at the interest rate offered, but also make sure there are no application fees, prepayment penalties, or any other fees which will make the loan undesirable. After you apply and receive an approval you will either need to pay off your existing loan from a check issued by the new lender, or instead simply give the information to the new lender who will in turn pay the loan off for you. The transfer of the car's title should automatically be sent from the previous lender to the new lender, and when that happens the refinance is complete.