Auto refinance? I financed a car at 19.95% because of bad credit.

I financed a car at 19.95% because of bad credit. About 5 months subsequently, I recieved an offer to refinance with Capital One at 16.95%, so I did. I purely recieved another offer to refinance again with Household Auto Financing at 12.95%. Should I refinance again? Will this be hurting my credit?

Answer:
this is newly the way of making t pay for longer grasp all the detail on how long the payments and other stuff are before making a decsions and i would in recent times Cancel All my credits cards when i am in dept so should you>

It is always better to nouns at a lower rate.
Here is an online Amortization Calculator to see how much money you will save.
http://ray.met.fsu.edu/cgi-bin/amortize...

The smart thing to do would be to nouns at the lower rate, but CONTINUE to send the bank duplicate amount each month. This will just achieve your debt paid off summarily.

For example. If you currently owe $5000 at 19.95% for 4 years your monthly payment is $152. In the end you pay envelope $2300 in Interest alone.

If you refinance that same $5000 at 12.95% for 4 years your monthly payment is $134. and you repay $1400 in interest back.

BUT if you refinance that $5000 at 12.95% and hang on to sending your $152 payment amount each month - you will with the sole purpose pay $1200 in interest and own it paid off within 3.5 years.

When it comes to debt, you need to be smart. Do not refinance only to drag it out for another year. Be strong and settle up it off quickly.