Car Loan

I purchased a new car approximately 6 months ago. my payments are always on time so is it possible to get the bank to lower the interest rate i am presently paying on the loan? help me!

Probably not. first off, when you purchased the car as new, you got an interest rate for a new car, which is always lower than used cars.secondly, with depreciation, you may not have equity in the car to ify a lower rate, or even a refinance.instead of refinancing to get a lower interest rate, pay more on each monthly payment.all car loans are simple fixed interest, so anything you pay over your normal payment will be applied towards principle, thus lowering your total interest, your effective apr, and your loan term.then, if something happens and you cannot pay the extra payment, make you normal car payment that month.it gives you flexibility, not the bank.