Refinancing is doubling down on a bad decision. Find a way to either get out of it closer to what you owe (other than insurance fraud) or to pay it off early and stop the additional money bleed associated with interest. Now slowly step away from the refinance button.Yeah I definitely agree with you both. We’re looking to refinance in hopes we can lower that payment. Going to hold onto it until someone bites. Who knows
As someone with a 2021 with 95k miles, the KBB value of my Bronco is $23-24k, maybe... And although I was under MSRP at $48k, it has depreciated 50%+). The only way to win is to drive the wheels off it and keep it long term (which was the plan for me).
I suggest you pay it off sooner rather than later unless you have GAP insurance, because you can't take advantage of GAP insurance if you pay off the vehicle early and have an unforeseen accident.
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