MB Credit
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Senior Member
Joined: Nov 2005
Posts: 253
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From: Hartford, CT USA
2013 C300 Sport 4Matic
MB Credit
I bought my 2002 C230 Coupe about 6 months ago. I went through MB Credit to finance the car. The price of the car was $19,500 plus I bought the extended warranty that added 2 years to the 100,000 mile deal. I put 5 grand down, and my rate is somewhere right above 8%. Payments are $380 a month for 60 months. Can you refinance car loans? I've never done this before, and this was the first used car I ever bought. I'm used to the 2-3% rates on new cars. I know I won't get that, but I've been looking around at other companies. Anyone have any advice or recommendations? Thanks.
MBWorld Fanatic!
Joined: Aug 2005
Posts: 5,431
Likes: 10
From: St George Utah
2017 SL63
Normally, used car loans have a higher interest rate than new cars. And they usually do not finance as long too.
Unless you can get the interest rate down their would be no reason to re-finance.
To lower the interest rate you would most likely have to put more money down and or, shorten the term of the loan.
Try a credit union for the best interest rates.
Unless you can get the interest rate down their would be no reason to re-finance.
To lower the interest rate you would most likely have to put more money down and or, shorten the term of the loan.
Try a credit union for the best interest rates.
