Refinancing car loan: times have never been better

A good refinancing car loan can make for a fun buying experience.  Below are a few thoughts of what to look for after you have your refinancing car loan. 

This is a good time for a refinancing car loan.  Car and light-truck sales have been on the fast track for five years, peaking at an estimated 17 million in 1999—the most ever. With so many brands and types of vehicles to choose from, consumers have more choices than ever. This adds up to a buyer's market during a period of record sales. For the third year in a row, price increases have been modest, and several manufacturers are holding the line on price increases. Rebates, low-rate financing, and other incentives abounded last year.

With new models jamming the dealer’s showroom, the usual replacement period of a car has reduced from 7 to 5 years. With a refinancing car loan, this means that second hand cars can now be brought when they are in a better shape. But one must be careful of the higher maintenance costs in the bargain.

Some dealers cling to traditional hard-sell methods. Others take a kinder, gentler approach. Even if you have your refinancing car loan in hand, if a dealer makes you uncomfortable, look elsewhere. Buying a car should be a pleasant experience, so find a dealer who makes it one. However, the salesperson's job is to make as much money as possible on each sale. Your quest as a consumer is to get the lowest possible price on the car you want.