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PERSONAL COMPANY; Whenever Refinancing a auto loan, It’s Driver Beware

PERSONAL COMPANY; Whenever Refinancing a auto loan, It’s Driver Beware

By Stacy Kravetz

    4, 2000 june

WHENEVER Gerald Jutting drove his 1997 Oldsmobile Bravada home through the dealership, he thought he had discovered a deal that is good. The attention price regarding the loan the dealer guaranteed he works for him from a local bank was 8.75 percent, better even than the employee rate at the bank where.

Quickly, however, he started seeing much more attractive rates marketed on the web. One Saturday Mr. Jutting, 51, typed an on-line application at the PeopleFirst.com Internet site and had been approved very quickly. He refinanced their automobile.

The monitoring each and every twitch in interest levels was developing into a little bit of a nationwide obsession for a whilst, and customers have grown to be quite happy to refinance home mortgages whenever prices bounce positively. Playing hopscotch with car and truck loans is a newer event, fraught with pitfalls for the incautious.

Mr. Jutting’s situation illustrates the type or sort of situation for which refinancing makes sense.