Few months ago I bought a used 2002 tahoe. THe monthly paments are pretty high. I want to refinance it to bring down the monthly payments. I need some tips. I've done research and found out that I should go w/ credit union. I also found Recommended Refinance Car Loan Companies Online such as Auto Purchase Loans,
Car Loan Authority, or National Car Financing
Instant Car Loan. With these loans I simply fill out an application and will be able to help get the lowest rate possible. But I'm not sure if i should fill out the application online. My loan is currently with Bank of America. PLEASE HELP w/ tips.
2007-09-08 03:53:12 · 8 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
If you think that you are paying a higher repayment amount for your existing car loanyour monthly costs. Secondly, you may avail a competitive interest rate. Thirdly, you could be getting a flexible repayment period. Overall, you will be managing your loan a lot better.
2007-09-08 07:03:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Filing out online applications has another problem. Multiple companies doing credit checks. Your score will take a hit with each credit check.
Go with the credit union. They tend to have good interest rates and don't have gottchas like interest loaded upfront or early payment penalties.
It's always a good idea to shop for financing before you shop for a car. That way you get a payment you can afford.
2007-09-08 04:25:31 · answer #2 · answered by bdancer222 7 · 1⤊ 0⤋
If you refinance you always take a hit.Interest and finance charges will mount,as will the length of time to pay it off.A credit union is probably smarter.If you can try to pay off a car loan by making extra payments when you can,even if it's a half payment.
2007-09-08 04:26:04 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You have already done some research. Why not print out your research and go back to Bank of America and ask them if they can do better or match? They may be able to give you a better deal - they make money by lending money and want to keep you as a customer.
2007-09-08 05:15:26 · answer #4 · answered by Linda B 2 · 0⤊ 0⤋
You might want to try bankrate.com, click on the auto tab, then click compare auto rates in your area. It's a completly independent site, which will give you contact information for lenders in your area, as well as information regarding the types of loans and interest rates that they offer. Hope this helps.
2007-09-08 04:01:01 · answer #5 · answered by Marvin J 1 · 0⤊ 0⤋
you do not negotiate mortgage words. they're set by ability of the lender. What you may desire to so is save for the final expenses by ability of evaluating the expenses provided by ability of various lenders. save for a private loan basically such as you shopped for the motor vehicle. Your ultimate wager is to pass to a community credit Union. they furnish the backside expenses contained available in the industry.
2016-10-18 07:57:28 · answer #6 · answered by jeremie 4 · 0⤊ 0⤋
Hi,
You can visit http://www.autoloanguide.info for some useful tips. Good luck!
2007-09-08 04:58:17 · answer #7 · answered by Percy 1 · 0⤊ 0⤋
dont fill stuff out online its dangerous.....if you must do it then stick with lending tree, they are an established company and should pose no threat to your identity theft
2007-09-08 04:01:11 · answer #8 · answered by duwap 2 · 0⤊ 0⤋