<prompt> Human: I have seen several posts over the last few days from people talking about refinancing auto loans. Seems to me if youre refinancing a car loan you bought way too much car. Is this really a thing?  <response>: Its being done by people who didnt qualify for the best rates when they first purchased a vehicle.They may have taken out a 60 month loan at 7 interest and two years later are in a position to qualify for a 3 year loan at 4. 