There again it depends on how good your credit is at that time, most likely not very good as it takes years to repair damaged credit. 21% is way to high because when you add in the cost of collusion insurance you will be way over you head. The finance company will want the extra insurance, just make sure you get all the figures before you make any decision.

Depending on the company you are going w/. Sometimes it’s only 6 months, sometimes it takes a year before they will let you refinance.

yes you can, the best option would be lending tree you type in all the info. car, intrest,ect. then you can compare what you will quilify for by your credit score. wont lower payment that much because there is still alot of principal on the loan. the 1st year you really only pay the bank intrest