look further into the refinancing before you go through with it. keep in mind that loans are front-end loaded with interest, meaning you will have to start all over again with interest on a new loan. even if the rate is lower you may end up paying more interest by refinancing. check out this
amortization calculator , it will give you a breakdown of how much of your money goes to interest and how much goes to principle for each payment. just put your info in, and click "show amortization schedule". my suggestion: see exactly how much you owe on your loan, and what your total would be including interest. then see what your total would be including interest, if you refinance. then go with whichever is lower.
also, if possible, you should take out a home equity loan and pay off the car loan with that. you can write off the home equity loan at the end of the year.
