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kbc87 t1_jebbvm5 wrote

It's not the WORST deal but the part you are missing is that while it's equal to your current payments, you're also extending your loan to 5 years compared to whatever it is now. Make sure you consider that extra money when thinking about it.

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CarbonPrinted OP t1_jec2snf wrote

Understandable, it would add several years of payments under the new loan and cost a lot more money, but that's expected. Most my usage is leisure, which would make sense to keep it. I'm not overly concerned about the additional 3 years (5 years on the new one, but I still have 2 years on my current anyway) of payments that would need to be made and have additional funds in my current situation that would allow me to overpay towards the principle of my loan, which may not be as likely in the mid-future (~5 years out) as I anticipate larger life decisions to come into play (which would also make upgrading a car unreasonable at that time).

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