Car loan usually not very good for refinancing. $35k for 4 years, at 3% flat rate, means the interest is $4200. You will have to read all your loan T&Cs. Usually, 1 year, you should have like 20% penalty fee also. After 1 year, you would have paid like $9804, with $29396 outstanding. Car loans usually got by "rule of 78". See
http://www.sgcarmart.com/news/writeup.php?AID=61.
Interest rebate is only like 56.6% after 1 year, before the 20% penalty. After which, if the 20% penalty is applicable, only 45.3% of the interest is not payable. Meaning you if you redeem the loan (with or without re-financing), you would be paying 54.7% of the total of 4 year interests within the 1st year already. Even if no penalty, you would have paid 43.4% of the total 4 year interest within the 1st year already, any other loan, unless at much less than half the current interest rates, then it might be worthwhile to worth the hassle of re-financing.
