Auto refinancing

Sometimes if you're really in need of a car, but have bad credit, it's a good idea to get whatever terms you can get at that time and then refinance a year or so later. (Of course, for this plan to work, you need to make all your payments for everything else on time and generally baby your credit report so that you will actually qualify for a better loan later.) Then you can get an auto refinance and see if you can get a lower interest rate. Usually they will refinance the loan for the same number of months, so it's not stretching it out artificially, but you can also shorten the loan to lower the interest rate if you have the money.