Share your insights or perspective on the financial matter presented in the input.

Car Loan upside down--refinance before selling?
Carmax will be interested in setting a price that allows them to make money on the reselling of the vehicle. They won't offer you more than that. The determination of the value compared to the BlueBook value is based on condition and miles. The refinancing of the auto loan could lower your monthly payment, but may not save you any money in the short term. The new lender will also want an evaluation of the vehicle, and if it is less than the payoff amount of the current loan they will ask you to make a lump sum payment. This is addition to the cost of getting the new loan setup. If you can pay the delta between the value of the car and loan then do so, when you sell the car. Don't refinance unless you plan on keeping the car for many months, or you are just adding paperwork to the transaction.