Refinancing Timeline

[TD_05]

Have any of you who originally financed with Audi of America considered refinancing with a different lender to get a lower rate? Any downsides that you encountered? How many months did you pay AOA before you refinanced?

Thanks,

TD

[TD_05]

157 view... Anyone care to chime in?

[2wookies]

Most people I've ever heard from that have refinanced regretted it a year later.

[agent47]

I refinanced my 2013 A6. Ideal timeline is usually an year after you have been paying AoA. Reason for refinancing was a better rate for me. My payments got lowered but about $48/month

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[SunDevil]

I'm not sure a timeline has anything to do with it .... unless there is a prepayment penalty. Also watch out for any additional finance fees. I typically pay none.

I usually use Penfed.org for financing. The rates can be as low as 1.49%. Easy to sign up.

Also ... best not to refinance to lower your payment by extending the months. That is not typically wise under most circumstances.

[CASoxFan]

There is no downside to it, provided you are lowering your rate and not extending your term. In fact it is wise to do so, although make sure it is worth it. Probably has to be at least 0.5% and ideally 1% or more of a rate reduction to be worth going through the hassle.

[TD_05]

thank you. Already have a loan that's about to end with penfed for diff car, and insured with USAA. So those are my two first choices. Will update later.. Thanks again