Many people do not know that they can refinance car loan or auto loan. The refinancing industry usually pertains to houses and real estate, but if you are paying absurd rates and want to bring them down, you can. If you bought your vehicle before the drop in the interest rate, you might be able to save a fortune by refinancing.
There are many reasons why people should re-finance their interest rate. The first reason is that before the interest rate dropped because of 9/11, people were paying extremely high rates, even if they had good credit. Had they known what was going to happen in the near future, they would have an interest rate that is a fraction of what they are paying now.
If you have improved your credit drastically and have an absurd interest rate because of your prior poor credit, then you should look into refinancing. Even if you credit has not improved that much, you still can get a lower rate. Money is so cheap right now that any bank is willing to cut you a deal to get you to re-finance with them.
If you want to re-finance, you have to go to a bank. Dealerships will not help you with this. The most common place to find banks that will re-finance your loan is over the internet. Online banks are taking this industry and running with it. Just browse around through a few sites.