Comments on: Can I get a personnal loan to pay off our car? http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html Solution to your Niche Question Sat, 15 Oct 2011 00:02:34 +0000 hourly 1 http://wordpress.org/?v=3.1 By: entidtil http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html/comment-page-1#comment-4088 entidtil Mon, 07 Dec 2009 19:42:21 +0000 http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html#comment-4088 I will assume that because of the high interest rate you are paying that your credit is not very good. A "personal" loan could cost as much as 1000% interest (yes, I said 1,000%) You would be far better off to add some extra dollars to your payment each month. "When you find yourself in a hole, stop digging". I will assume that because of the high interest rate you are paying that your credit is not very good. A "personal" loan could cost as much as 1000% interest (yes, I said 1,000%)
You would be far better off to add some extra dollars to your payment each month. "When you find yourself in a hole, stop digging".

]]> By: Rose http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html/comment-page-1#comment-4089 Rose Mon, 07 Dec 2009 19:42:21 +0000 http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html#comment-4089 I would try a credit union if you belong to one. They have some of the better interest rates and will sometime give a car loan at or below 7% depending on your credit history and how long you have a member at your credit union....... We had been members for around 45 years (yes same credit union, oopened while my husband was in school) and four years ago go a loan on a two year old suv for 5.25%! We just paid it off last month and was told we could get a lower interest rate thedn that this time around but have decided not to get another car. Good Luck I would try a credit union if you belong to one. They have some of the better interest rates and will sometime give a car loan at or below 7% depending on your credit history and how long you have a member at your credit union……. We had been members for around 45 years (yes same credit union, oopened while my husband was in school) and four years ago go a loan on a two year old suv for 5.25%! We just paid it off last month and was told we could get a lower interest rate thedn that this time around but have decided not to get another car. Good Luck

]]> By: ls1bird http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html/comment-page-1#comment-4090 ls1bird Mon, 07 Dec 2009 19:42:21 +0000 http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html#comment-4090 why in gods name would you finance a car with a nearly 16% interest rate! why in gods name would you finance a car with a nearly 16% interest rate!

]]> By: Tina Matthew http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html/comment-page-1#comment-4091 Tina Matthew Mon, 07 Dec 2009 19:42:21 +0000 http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html#comment-4091 I applied and was approved for one of your loans yesterday and I wanted to write and tell you about my experience. My loan agent, Mark M. was amazing! He handled everything very professionally and quickly. He was extremely patient, helpful and very courteous at ALL TIMES. There was NO STRESS or pressure what so ever. He walked us through the whole procedure and made sure we understood each step before moving on to the next one. I ended up having to call him back with a correction and he took care of it immediately. He was just a true joy and I just can't say enough. I hope you will give him the recognition he so deserves because it has been a very long time since I have had wonderful service like this! This was a totally stress free and wonderful experience! here is there email, mark_maxine700@yahoo.com Thank you Mark!! Yours Truly, T Matthews Sr. I applied and was approved for one of your loans yesterday and I wanted to write and tell you about my experience. My loan agent, Mark M. was amazing! He handled everything very professionally and quickly. He was extremely patient, helpful and very courteous at ALL TIMES. There was NO STRESS or pressure what so ever. He walked us through the whole procedure and made sure we understood each step before moving on to the next one. I ended up having to call him back with a correction and he took care of it immediately. He was just a true joy and I just can’t say enough. I hope you will give him the recognition he so deserves because it has been a very long time since I have had wonderful service like this! This was a totally stress free and wonderful experience! here is there email, mark_maxine700@yahoo.com Thank you Mark!!

Yours Truly,

T Matthews Sr.

]]> By: Howard L http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html/comment-page-1#comment-4092 Howard L Mon, 07 Dec 2009 19:42:21 +0000 http://nxus.net/can-i-get-a-personnal-loan-to-pay-off-our-car.html#comment-4092 To answer your question just Google social lending. It works exactly as if you were using a regular lending institution. You fill out an online credit application, if you meet the lending criteria they quote you an interest rate, and if you decide to go ahead with it they post your request on their site. Private individuals will read your request and some will agree to lend you the money. Usually hundreds of people will contribute $25-$50 each to fund your loan. You then make monthly payment to the site exactly as you would to a bank. Your payments are reported to all of the credit bureaus. The site distributes your payments back to the people who lent you the money after taking a percentage to cover their operating costs. The borrower usually gets a lower rate than they could from a bank and the lenders get a higher interest rate than they would from a savings account. To get any kind of a personal unsecured loan you will probably need a credit score in the upper 600s and even then it is unlikely you'll do much better than 16%. But it doesn't hurt to try. A personal loan is an unsecured loan so the year of the car wouldn't matter to get a personal loan. If you owe $14,500 on a 5 year old car the car is probably worth much less than you owe which is why no one will refinance it. To answer your question just Google social lending. It works exactly as if you were using a regular lending institution. You fill out an online credit application, if you meet the lending criteria they quote you an interest rate, and if you decide to go ahead with it they post your request on their site. Private individuals will read your request and some will agree to lend you the money. Usually hundreds of people will contribute $25-$50 each to fund your loan. You then make monthly payment to the site exactly as you would to a bank. Your payments are reported to all of the credit bureaus. The site distributes your payments back to the people who lent you the money after taking a percentage to cover their operating costs. The borrower usually gets a lower rate than they could from a bank and the lenders get a higher interest rate than they would from a savings account.

To get any kind of a personal unsecured loan you will probably need a credit score in the upper 600s and even then it is unlikely you’ll do much better than 16%. But it doesn’t hurt to try.

A personal loan is an unsecured loan so the year of the car wouldn’t matter to get a personal loan. If you owe $14,500 on a 5 year old car the car is probably worth much less than you owe which is why no one will refinance it.

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