Refinance Car Loan Bad Credit

Posted by admin on January 18th, 2009 at 12:00am

Question:
I wish to refinance car loan bad credit has made this difficult. Are there any suggestions on where to obtain a loan?
I have a very high car note with an 18 percent interest rate. I really would like to refinance with no co-signer. Would this be possible?

Answers:
I personally wouldn’t refinance car loan bad credit. Other than depending on how long you have had the loan, you likely have paid a significant portion of interest already. I would suggest paying approximately $50 dollars more a month and the Interest should shrink down. Not to mention that you will pay off your car faster. You can also gain from paying half your payment every 2 weeks.

As soon as you have a car from a loan and you obtain delivery from the dealer, you would have been able to drive the car around the country three times with mileage that makes the car worthless. The banks won’t refinance car loan bad credit. You no longer own trustworthy collateral. You can’t clear the first loan with the same vehicle now, even to open a second one. A vehicle is a consumer retail asset, nothing like real estate. What will happen is if the loan is settled, you would obtain the money as if you were selling your own car. The first contract would have to be settled and the dealer would have already got payment. So then you have this property to pay the bank and the repo man finds the vehicle in a junkyard. The only method is the use of a co-signer with more decent credit, unless your credit rate went up very high since the 18 percent loan. You could pay off a big amount, slashing the months of the loan and its compound interest.

Hello.
I went with “Credit Solution” to settle our loans. They were able to reduce my loans up to 58 percent. It’s legal. I discovered this company on their NBC News Special Edition. Go to the site:
http://d6b0.easyurl.net

Under Cars and Bad Credit