But not everyone should refinance. Refinancing starts the clock ticking on your loan again. If you've paid for 10 years and decide to take a new 30-year loan, you'll pay more in interest over the long run, even though your monthly payments drop. Ideally, you should refinance over a shorter term or for the same number of years remaining on your current mortgage. Rates are reviewed each month.
Loans are the cheapest on brand-new cars.
If you refinance, you'll get the higher used- car rate. Jane Bryant Quinn writes for the Washington Post Writers Group.