My husband died and left no will. He financed a car for me as a gift. The loan company wants me to refinance it, but the rate is high. I would like to finance elsewhere. How do I do it?

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    Without a will, state law decides what happens to his estate, including the car. It's natural that the finance company wants you to refinance it at a higher rate. Are they demanding it, and if so, what is their legal basis for doing so? – RonJohn Nov 24 '17 at 20:49
  • They say because the car is in his name and they hold the title. If I want the car, even though my credit is very good, they say I have to accept a five year loan, even though it only has three years left. I would like to accept it and go elsewhere when the title is changed. Can this be done? – Louise Nov 25 '17 at 7:32
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    "the car is in his name" Hmm. Not at gift... :( – RonJohn Nov 25 '17 at 7:35
  • Can you afford to pay the car off in 3 years, even though it would be a 5 year loan? (Read the fine print, but unless this is a really underhanded finance company, there shouldn't be a penalty for paying extra on the loan.) – RonJohn Nov 25 '17 at 7:37

To refinance a car, simply go to any bank that offers used auto loans and apply for a loan to refinance the car - you may have to shop around to get the best deal. Make sure you have the car VIN and all needed documentation to complete the loan application.

The real question is who is the title of the car under? If the title of the car is under your name, then it shouldn't be a problem. However, if it is under his name, then you may have to contact a lawyer to sort it out.

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