Is it worth taking out a loan with a lower Apr to repay an existing loan? or do you pay more in the long run?

existing loan has been paid for 3 years with 4 years left. the balance is 15000. when i calculate a loan with a lower apr for the 4 years to cover the existing loan the monthly repayments are cheaper but the total repayment is 20000 which is more than the 15000 of the balance of the existing one?

Asked by ickles4
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