Car Refinance Question?

[videodronesmp]

I want to refinance my car to try and get a lower interest rate and lower payments it is a 2006 Pontiac Grand Prix and I still owe about $20,000, the car on KBB.com shows a retail value of about $16,000. All of my payments have been made and were all paid on time. I probably have average credit. I have heard that I may not be able to because of how much more than its worth. Do you think I will have a problem with this? Also it doesn't matter to me if its the bank that the loan is already through or a different bank.

[Sahara]

It sounds like you want a loan for $20,000. Do you have any other collateral that you could use for the loan such as cds or stock certificates or cash value on a life insurance policy? You will most likely need to shop around. You could try negotiating with your current lender. It wouldn't hurt to ask if they can give you a better rate.

[khalilkyd]

Hi, Your car value has nothing to do with refinancing . It solely depends on the finance provider and ur ability to pay. Rgds......................