Reasons Not to RefinanceNevertheless, credible financial sources, such as Bankrate, warn against frequent refinancing.One reason is that every refinance comes with closing costs, usually in the low four figure range and often ranging between 2 to 4 percent of the total loan value. If you refinance often, and particularly if you move within a few years of the last refinance, you may have saved nothing. Your resulting monthly payment may be lower, but your closing costs may have substantially increased your debt in the process.Another reason for not attempting to refinance is that your figures may no longer look good to your lender. Your income may have dropped, or a household member lost his job. In some instances, falling home prices where your house is located may mean the house no longer provides sufficient equity for a new loan.But in many instances, the best reason for not refinancing is that if you go to the trouble unpacking the numbers -- can i refinance my car loan after one month not the sales pitch the mortgage lender or broker may give you -- you'll discover that the savings aren't sufficient to offset the closing costs. John Wasik, writing for Reuters, warns that unless your credit score is above 700, you have steady income and the refi doesn't involve penalties and charges, you may be better off with the loan you have now.Refinancing broadly means to convert your existing debts into a single new entity, having terms which suit you, at an amount you can afford. In the auto industry it’s called car refinancing. Many auto refinance or car refinance companies offer plans for refinancing your existing car loan with a new one. If you are suffering from bad credit issues, don't worry Click to Get Bad Credit Car Refinance » Auto Refinance Car Loans at Lowest Interest, GuaranteedFew individuals can afford to pay cash. The majority of Americans use credit from banks and lending institutions or from internet lending sources. Lending rates keep on changing with the market fluctuations. Interest rates aren't static and change with time. Car owners often feel "Guess I could have got a better deal if I had waited a bit!" and they are justified in thinking so - especially when the interest rate drops just six months after financing your vehicle. That's where auto or car re-financing comes in - it lets you do what you "want" and "desire" to do, rather than settle with what you are "doing" right now. Easy Auto Refinance Refinance Car Loan Today and you could LOWER your Monthly Auto Loan Payments Apply Now ›› Advantages of car refinancing or "auto refinance"Car refinance or auto refinance offers several benefits which can help you restructure your loan repayment schedule. The benefits are:Lower net payable interest rate and loan amount Refinancing your existing loans with a new one provides an opportunity to negotiate with your creditors or choose a newer interest rate. You can save on to the difference! Get a new re-payment scheduleA new payment term indicates a new monthly payment schedule. You can benefit by selecting specific dates while making payments and also decide the frequency of the payments.Get credit even with "bad" or "poor" credit statusYou can get a new car even if your credit's bad or "poor".Repair or customize your vehicleBenefit by getting a camper for your minivan or a trailer for your truck or pick-up. Include the list of "accessories" for your existing vehicle and "refinance" the whole deal. Get something extra and include it in your auto finance.Avoid paying commissions to resellersDealing directly with the institution means you don't have any intermediate resellers or agents who will "charge" you for their "services". The process involves buying directly from the manufacturer at the product's lending price so you don't pay extra commission or vehicle "brokerage". Save on that amount.Enjoy additional special offersNew loans often include "special" offers or incentives. You could get something extra in addition to the ownership of a new car.Registered and certificated agents Automobile refinance companies are registered with the government so you are assured of a legal and valid transaction.