Can I/should I refinance auto loan (pay, rates, credit report)

[Grsz11]

Right now I pay an auto loan of 225/mo with another four years left and think based on rates I could get it lowered some. The loan is in my name, but now that I am in school full-time, a refinance loan would also have to have my wife's name. Would it then be impossible for her to get a loan for her to buy a new car later before I have additional income?

[tmoua1]

No it will not be impossible.

If her name is added to the car loan via a re-fi, the payment history, as of the re-fi date, will appear on her credit report (for better or worse).

When she buys a "new" car later, if you're still in repayment on the re-fi, the monthly payments will count against her monthly debt-to-income ratio unless you purchase it jointly. In that case, both of your debt-to-income will be calculated to determine how much of a loan will be extended.