can i refinance my auto loan?
Tags:2005 toyota corolla, blank check, free credit report, poor payment history, toyota corolla,
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i fundamentally had a single choice when i paid for my 2005 toyota corolla, that was to get a ,000 "blank check" automobile loan during 17%.
now i’m down to ~,000 though for a past year or so (until this past month) i was late.
i usually saw my giveaway credit inform that shows my measure as 542. i review we need to be stream for 3 months prior to perplexing to refinance. though i review we cant refinance for reduction than ,500. by a time i compensate a subsequent dual months upon time my sum change will be somewhat reduction than ,500. with a flattering bad remuneration story as well as no credit cards, am i stranded only profitable this existent loan off? i compensate roughly 0/month for my car, which’s a joke.
please suggest if youre in a know. appreciate you!!
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Auto finance is what I do for a living and you should try your own local bank or credit union first.
According to N.A.D.A. your about even as far as what you owe verse what the car is worth so it’s worth a shot.
Good luck.
I would start by calling around to local banks to see what they say. While a general statement such as you put in your question might be correct for 75% of the banks that refinance cars, the other 25% might have very different rules. You won’t know until you talk to the loan officer.