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

Refinancing a vehicle, longer term with extra in the kitty, or shorter term and just make scheduled payment?
Refinancing a car for anything other than lowering the rate is not a good idea. Keep the same term, or take a shorter one. Remember that unlike real property, a car only loses value.  So when you make your payments on your 84 month (!) loan, those payments are amortized so that the interest is front loaded. The problem is, when your car gets totalled around month 24, insurance will generally only pay what the car is worth, and you'll owe more.