Is it better to refinance a loan or get a new one?
Is it better to refinance a loan or get a new one?
Securing a lower refinancing rate reduces your cost of borrowing so you'll pay less on your personal loan, overall. If you're struggling to make your minimum loan payments, refinancing to a longer loan term offers lower minimum monthly payments (though you'll pay more toward the loan overall due to interest charges).9 nov 2021