Spire
Rated XXX
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 Posted: Wed, 01 Jun 2005 01:32:03 Post Subject: |
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Yes, early pay penalties are put in place for just that reason... to allow the finance company to make at least a small amount (relative) of cash before you go out and find a better deal.
Rule of thumb I always hear about is, if you can get a whole percentage point less in interest rate, a refinance is worth it... something that is incredibly hard to do in this day and age, they are already at record lows. |
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