PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
How do I buy a car if I just refinanced a loan?
I just refinanced my car about a month ago, but I saw a great deal on a new Chevy Tahoe. Can I still get a new car loan if I just refinanced my old vehicle?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Buying a new car shouldn’t be an issue even if you just
refinanced your car loan
. There’s no limit to how long you have to maintain a car loan, regardless of how recently you refinanced it.That said, the major issue is whether you’re
upside down
on your current loan. If you owe more on your loan than your current car is worth, this can create some issues. Even then, you can still get your hands on a new car.One of the main issues with an upside down car loan is that whether you do a trade-in or sell your car privately, you’ll end up still owing money on the loan.
You can pay off the remaining balance of your loan with cash (which would be better for you if possible), or you can roll over the old car loan into a new one (which will cost you a lot more in interest in the long run).
If you want to find ways to save money to pay down your original car loan balance, use the
Jerry
app to find savings on your car insurance. Choose from dozens of competitive quotes and Jerry will help do the hard work of switching policies for you.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies