I just paid 3 payments for my car loan, is...

[Madeline g]

...it too early to refinance? it's only been 3 months since my new car loan started, is it too early to refinanace?

[Hiro]

Probably, but it depends on the terms of the deal. Unless the new loan is at a substantially lower rate and the costs are relatively low you'll probably lose money by refinancing.If you're refinancing just to lower your payment think hard about the total cost of the two loans. You could be paying a lot more money over the life of the loan just to get a lower monthly payment.You can go to any number of finance sites and calculate the payment and total interest of your current loan and then recalculate it for the new loan to see what the difference would be. Bankrate.com has good calculators.

[taffscott]

Much to early. The ink on the original contract has yet to dry.