How fast should i refinance my car loan?
rustik23 asked:
Tags: 12 Months Car loan is 17000 dollars apr is 17 %.
Dealer told me that i can refinance in 4-6 months, but i think he lied to me. Bank told me that i can refinance only once.
Some Additional Resources:http://www.carsdirect.com/auto-loans/bad-credit-car-loan/
Bad Credit Auto Dealer Loan: A Negotiating and Financing Guide. Bad Credit Instant Auto Loans: Getting Lowest Rate Possible for Lower Payments
So 4 months passed.
SHould i try to refinance it or wait at least 12 months???
Thank you.
Comment by Clear Your Bankrupsy
debtreliefoftheusa.com
You cannot refinance your car loan if it is less than 12 months payment recrd.Your apr indicates your credit challenges therefore, until you reestablish your self in thatloan banks, will see you as a high risk. It is best to stay with that one bankand pay it off. Bite the bullet and know that you purchased this credit. It will be easier next time around.
Posted on April 6, 2009 at 12:47 am
Comment by Help For Children's Allergies
chronicbadbreath.info
At that apr and assuming the 17000 was the value of the car, you will be “upside-down” for 2-3 years, i.e., your car will be worth less than the loan balance. Make double–even triple–payments as you can, or you will need thousands to refinance.
Posted on April 6, 2009 at 3:35 am