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When to Refinance Your Car Loan in Miami: The 3-Question Test
Refinancing at the wrong time can cost more than it saves. Here's the three-minute test I run before quoting any client.
Mavel Mena July 4, 2026 5 min read
Q1: How much do you owe vs the car's value?
If LTV is under 100%, you have options. Between 100–130%, fewer lenders. Above 130%, refinancing usually doesn't pencil out.
Q2: How many months are left?
Under 24 months remaining? The savings usually don't cover the small refi costs. Sweet spot: 30–60 months remaining.
Q3: Has your credit or the market improved?
Need at least one of: score up 30+ points, or market rates down 1%+ since origination. Ideally both.
The 1% rule
If we can drop the APR at least 1 point AND you keep the same or shorter term, refinancing almost always saves money.
Free 5-minute analysis
Send me your current payment, balance, rate, and payoff date. I'll tell you if refinancing saves money — no obligation.