I just found out that one can refinance your car loan with Citibank at a flat rate of 1.8% if your car is less than 3 years old. I had refinanced my 2.5 yr old car 1.5 years ago at 2.5% and now the rate is even better. They will approve the refinancing on a case by case basis.
You may need to work out the sums to see if you save anything after refinancing. But for me, I wanted to shorten the repayment period, so it works for me to refinance the car.
Just make sure that there is no prepayment penalty or lock-in period in case you want to sell the car.
Just thot I'd share this with everyone.
PS I'm not from Citibank and I don't get a comission either!
You may need to work out the sums to see if you save anything after refinancing. But for me, I wanted to shorten the repayment period, so it works for me to refinance the car.
Just make sure that there is no prepayment penalty or lock-in period in case you want to sell the car.
Just thot I'd share this with everyone.
PS I'm not from Citibank and I don't get a comission either!
