Retirement & Financial Planning Report

Now that most everyone is comfortable with the idea of refinancing home mortgages, the Internet is bringing out another opportunity: Refinance your car loan. Web sites such as,, and offer you new loans you can use to pay off existing auto debt. The catch: Beware of deals where you extend your loan term. You’re just taking longer to buy an asset that’s depreciating with every tap on the accelerator. Instead, focus on the annual percentage rate, or APR. All lenders are required to calculate this number in the same way and post it for potential borrowers. Getting a lower APR will save you money.