From personal and professional experience, you will have to shop your situation pretty hard. The interest charges on new car loans is in 99% of the marketplace, the lowest rate you will get on a car loan. If you buy a car, and drive it around the block and back to the dealer, it is a used car. Interest rates on loans for used cars used cars start slightly higher than new car rates and go up, sometimes fairly rapidly as the age of the vehicle increases. If you have credit unions available near you, check with them for refinancing rates.Another alternative if you can afford it is to accelerate the principal payments on your loan. But realize that the loan was probably structured so that the bulk of the interest charges were recouped by the lender early in the life of the loan.
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