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  1. Thanks for the replies everyone! @lionhunter I believe the is 5 years, and I have 4 years remaining on it. When I had spoke to the company that I got the car from, I actually mentioned that I would rather take the difference of having higher payments and put it towards my current loan to get it paid off quicker. Him, being a sales guy, gave me the shpeal about me currently paying for an older car being pointless with the interest rate being so high, and that it makes more sense financially to get the new car and pay half the interest, as a lot more of the money would be going towards the
  2. Hey everyone, Long story short, last year I took on an auto loan through TD Auto Finance at an interest rate of 19%. My monthly payments on the car are around 300, which is easily manageable for me, and I have had no late or missed payments in the last year on the loan. I was contacted by the company I purchased the car through to let me know they can get me a lower interest rate if I refinance by purchasing a newer car. My current loan has around $10,000 left on it, and it's on a car that's currently worth about $5,000 - due to the extremely high interest rate. My main concern at th