It is a suv toyota 2004 highland
2006-08-11 14:03:38 · 4 answers · asked by can u c me ? 1 in Business & Finance ➔ Personal Finance
contact the bank where you have the loan and tell them what you want to do, most banks will accomodate this type of request. if they dont, just go to other banks and tell them what you want to do, many of them will give you the appropriate loan.
2006-08-11 14:15:27 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Refinancing a car loan is always a little uncertain. The problem with cars is that the value of the car depreciates, it gets less and less every year. You switch from possibly paying the interest rate for a new vehicle loan to a used vehicle loan, plus you pay fees to refinance. The bank planned to get certain income from your loan, and so they feel it is only right to recoup in fees. If you have had a dramatic change in your credit situation since the introduction of the loan, then it is possible that your monthly payments will improve significantly to the point where it is beneficial. Go to your bank, and assess what your new payments will be versus the fees involved in the refinancing. If the payment isn't low enough to offset your expenditure in fees, then continue to pay off the current loan.
2006-08-11 15:09:34 · answer #2 · answered by Freddie 3 · 0⤊ 0⤋
Contact your local banks about interest rates for refinancing, depending on what your current rate is at and term (months)..it could save you money by refinancing if the interest rate is lower. For example; I know someone who had so-so credit..bought a new car with a high interest rate..I think 17%..he waited a year and refinanced with a rate at 9% and it is saving him a $125/month.
2006-08-11 14:21:50 · answer #3 · answered by Drea217 1 · 0⤊ 0⤋
Go to a bank.
Ask them about their used car loans.
They will ask you information about your credit and employment and if you meet their criteria you get a new loan.
2006-08-11 14:14:08 · answer #4 · answered by Honest and fair 3 · 0⤊ 0⤋